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Indegene share price jumped almost 5% in intraday trade on the BSE on Friday, 25 September, after Axis Direct initiated coverage on the stock with a "buy" recommendation, implying an 18% upside potential.Indegene share price opened at ₹595.05 against its previous close of ₹593.45 and rose 4.8% to its 52-week high of ₹621.90.The stock has seen healthy gains in the recent past despite weak stock market sentiment.Year-to-date, the stock is up 17%, while on a shorter timeframe of six months, it has jumped 32%.Despite the stock's healthy rise in the recent past, Axis Direct (Axis Securities) believes it has more steam left.Indegene share price targetAxis Securities has fixed a target price of ₹705 for Indegene shares.Indegene, a digital-first life-sciences company, combines deep life-sciences domain expertise with proprietary technology, AI and data analytics to support complex and highly regulated workflows.Axis believes the company offers a unique AI analytics offering in the life sciences domain, backed by stable cash flows and lower operational leverage.As pharma companies outsource higher-value activities, deep domain expertise is becoming a key selection criterion."With over two decades of experience serving global biopharma companies, Indegene has built capabilities across clinical, medical, regulatory, pharmacovigilance and commercial functions. This enables it to handle complex, highly regulated workflows that require both scientific knowledge and technology expertise," said Axis."The combination of domain knowledge, proprietary technology and embedded workflows differentiates Indegene from traditional IT players and strengthens its positioning as a strategic partner to global life-sciences companies," said Axis.According to Axis, Indegene has entered FY27 with a stronger and more diversified growth pipeline, supported by continued expansion within existing accounts, increasing contribution from clients outside the top 20 and traction in GenAI-led solutions across both commercial and medical affairs.The brokerage firm expects Indegene's growth trajectory to remain robust, aided by client wallet-share expansion, deal conversion, new business wins and AI-led offerings, while operating leverage and normalisation of investment-related costs should provide scope for earnings growth to outpace revenue growth.Axis expects revenue, EBIT, and PAT to grow at 25%, 26%, and 26% CAGR over FY26-29E, respectively.Read all market-related news hereDisclaimer: This article is for educational purposes only and does not constitute investment advice. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
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