Lyon: Ascend Biopharmaceuticals (01801) target price raised to 139.9 Hong Kong dollars, with further trading cooperation overseas.

The Zhishang Finance APP learned that, according to a research report released by Lyon, Innovent Biologics (01801) announced on July 14th that it has granted rights for its immunological drug IBI355 outside of Greater China to Spero Therapeutics, with a total transaction amount of 1.1 billion US dollars. The bank believes that although the size of this transaction is smaller than the two other transactions reached earlier this year, the latest transaction once again reflects the research and development strength of Innovent Biologics. Lyon has raised the target price of Innovent Biologics from 135.8 Hong Kong dollars to 139.9 Hong Kong dollars and maintains a "outperform" rating.