Furuite: Raises the target price for INNOVENT BIO (01801) to HKD 125, maintains "Buy" rating.
The bank maintains a "Buy" rating, raising the target price from HKD 105 to HKD 125.
Frost & Sullivan released a research report stating that INNOVENT BIO (01801) experienced robust sales in the first half of the year, with improved profitability. The management is confident in achieving the product sales target of 20 billion yuan by 2027 and has set a revenue target of 35 to 40 billion yuan for 2030, most of which will come from sales in China. The management also anticipates a significant increase in global revenue contributions starting from 2030. With strong revenue growth, INNOVENT BIO is accelerating its globalization efforts, with three assets entering the third phase of MRCT clinical trials, including IBI363, IBI343, and IBI324. The firm maintains a "Buy" rating, raising the target price from 105 HKD to 125 HKD.
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