ICICI Direct has given Buy recommendation for Laurus Lab recommended buy rating on the stock with a target price of Rs 625 in its research rep with a target price of Rs. 625 in its research report issued on Jan 28, 2022

ICICI Direct’s research report on Laurus Lab

Laurus operates in generic APIs & FDFs (formulations), custom synthesis and biotechnology. While ARV APIs dominate the current mix there is an optimal shift towards oncology and other APIs, custom synthesis and non-ARV FDFs • It has eight manufacturing units (five FDA approved sites) with 61 DMFs, 27 ANDAs filed (two Para IV, seven first to file), 292 patents filed (150 granted) • Foray into animal origin free products, enzymes as well as building biologics CDMO via Laurus acquired Richore acquisition.

Outlook

Maintain positive stance with BUY rating on the back of optical product mix shift towards more margin accretive businesses via visibility capex. We have a TP of Rs 625 i.e. 24x FY24E EPS of Rs 26.1.

More Info on Trent

At 17:30 Laurus Labs was quoting at Rs 499.50, up Rs 35.70, or 7.70 percent.

It has touched an intraday high of Rs 505.80 and an intraday low of Rs 433.20.

It was trading with volumes of 483,446 shares, compared to its thirty day average of 180,466 shares, an increase of 167.89 percent.

In the previous trading session, the share closed down 2.29 percent or Rs 10.85 at Rs 463.80.

The share touched its 52-week high Rs 720.75 and 52-week low Rs 333.25 on 13 August, 2021 and 01 February, 2021, respectively.

Currently, it is trading 30.7 percent below its 52-week high and 49.89 percent above its 52-week low.

Market capitalisation stands at Rs 26,841.10 crore.

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