Citigroup: Raise INNOVENT BIO (01801) target price to HK$ 115, rating "buy"

Citigroup released a research report stating that INNOVENT BIO (01801) saw its revenue increase by 38% to 13 billion RMB last year, with a net profit of 834 million RMB, turning the loss into a profit. The management reiterated the guidance of sales reaching 20 billion RMB by 2027. The management pointed out that despite recent price adjustments and increased competition, sales of mazdutide remain strong. The bank raised its revenue estimates for the company by 24% for this year and 23% for next year, with earnings per share forecast increasing by 33% and 5% respectively. Its target price was raised from 110 HK dollars to 115 HK dollars, maintaining a "buy" rating.