IIFL Capital starts coverage on India's Cohance with 'buy'

IIFL Capital initiates coverage on contract research and drug manufacturing firm Cohance Lifesciences COHA.NS with "buy" and PT of 1,140 rupees

Brokerage says COHA's acquisitions of drugmakers NJ Bio and Sapala strengthen its position in the fast-growing market of antibody drug conjugates (ADC), also known as "guided missile drugs" as they directly target cancer cells, minimizing damage to healthy cells

Jefferies' PT highest among six analysts tracking COHA - data compiled by LSEG

Revenue contribution from COHA'S niche tech, which includes these new molecules, is expected to double from 17% in FY25 to over 35% by FY30 - Jefferies

Avg rating of analysts on COHA at "strong buy"; median PT is 1,235 rupees - data compiled by LSEG

YTD, COHA stock down 23.4%