Concord Biotech Shares Gain Momentum Following US FDA Approval of Immunotherapy Agent

Concord Biotech Shares in Focus After US FDA Approval

On June 3, Concord Biotech will remain in the spotlight after receiving approval from the US Food and Drug Administration (US FDA) for its Abbreviated New Drug Application (ANDA) for Mycophenolate Mofetil for Oral Suspension USP, 200 mg/mL. This immunosuppressant medication is used for the prevention of organ rejection in adult and pediatric recipients 3 months of age and older of allogeneic kidney, heart, or liver transplants, in combination with other immunosuppressants.

The US FDA approval is a significant development for Concord Biotech, and investors will be closely watching the company's stock performance in the coming days. In the previous trading session, the share closed at Rs 1,166.80, up Rs 106.20, or 10.01 percent.

Jefferies has maintained its 'Hold' rating on Concord Biotech with a target price of Rs 1,020. The brokerage noted that the company's Q4FY26 performance fell short of expectations due to delays in order execution and regulatory approvals. However, it expects revenue growth in FY27 to exceed the company's historical average. Jefferies also expects EBITDA margins to improve in FY27, while the order book provides good visibility for the first half of FY27, but delays in tender awards as a key risk.

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The share touched a 52-week high of Rs 2,149.90 and a 52-week low of Rs 987.05 on 11 June, 2025 and 02 April, 2026, respectively. Currently, the stock is trading 45.73 percent below its 52-week high and 18.21 percent above its 52-week low. The market capitalisation of the company stands at Rs 12,206.62 crore.