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Buy Laurus Labs; target of Rs 690: ICICI Direct

ICICI Direct is bullish on Laurus Labs has recommended buy rating on the stock with a target price of Rs 690 in its research report dated April 30, 2022.

April 30, 2022 / 08:47 PM IST
 
 
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ICICI Direct's research report on Laurus Labs


Laurus Labs operates in the segment of generic APIs & FDFs (formulations), custom synthesis and biotechnology. Major focus in APIs is on ARV, oncology and other APIs. It has 11 manufacturing units (six FDA approved sites) with 73 DMFs, 31 ANDAs filed (15 Para IV, 10 first to file) and 184 patents granted • Laurus acquired Richore Life Sciences to diversify in area of recombinant animal origin free products, enzymes as well as building biologics CDMO.



Outlook


We continue to remain positive and retain our BUY rating on the stock. Valued at Rs 690 i.e. 26x P/E on FY24E EPS of Rs 26.5.

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first published: Apr 30, 2022 08:47 pm
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