-- 獨立研究機構CFRA向提供了以下研究報告。 CFRA分析師的觀點摘要如下：我們維持12個月目標價為149美元，相當於2026年每股盈餘預期的26.8倍，高於其三年平均預期本益比26.5倍。我們將2026年每股收益預期下調0.12美元至5.56美元，並將2027年每股收益預期下修0.15美元至6.40美元。注射劑業務持續印證了我們的投資邏輯，第一季年增20%，管理層正積極努力提升產能，以支持該部門的進一步擴張。我們注意到，由於急診醫學業務需要處理先前的庫存，預計2026年上半年將面臨6,500萬美元的庫存壓力，導致第一季核心銷售額持平，毛利率下降。管理階層對公司製藥業務的成長充滿信心，認為其成長將超越GLP-1，拓展至全身性鼻腔給藥和肺部生物製劑領域。美容業務板塊的利潤率疲軟和不利的產品組合是暫時的，我們預計利潤率將在2026年下半年恢復正常。我們仍然相信ATR有望在生物製劑市場實現顯著成長。由於中東地區的不確定性導致供應鏈緊張，ATR可能面臨更高的原料成本。
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