Jefferies Raises Price Target on China Biologic Products (CBPO) to $155; Reiterates Buy
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China Biologic Reports Financial Results for the Second Quarter of 2016
August 4, 2016 5:00 PM EDTBEIJING, Aug. 4, 2016 /PRNewswire/--Â China Biologic Products, Inc. (NASDAQ: CBPO, "China Biologic" or the "Company"), a leading fully integrated plasma-based biopharmaceutical company in China, today announced its unaudited financial results for the second quarter of 2016.
Second Quarter 2016 Financial Highlights
Total sales in the second quarter of 2016 increased by 23.4% in RMB terms, or 15.5% in USD terms, to $91.4 million from $79.1 million in the same quarter of 2015. Gross profit increased by 15.2% to $59.9 million from $52.0 million in the same quarter of 2015. Gross margin decreased slightly to 65.6% from 65.8% in the... More
