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【Brokerage Focus】HSBC Research raised the target price of Innovent Bio (01801) by 5.45%, citing better-than-expected revenue in the first half of the year.
According to a research report from HSBC Global Research, Innovent Bio (01801) is expected to achieve a revenue growth of 28% to 32% from 2024 to 2026, with a break-even in 2025. With a market/sales ratio of 8 times in 2024, the valuation of Innovent Bio is considered attractive as it approaches breakeven, coupled with the launch of multiple innovative drugs from 2024 to 2025 as catalysts. The bank continues to suggest that the company's first-half revenue exceeded their expectations as well as market expectations, with promising prospects for PD-1 and IL-2, which can support the development of its business opportunities. Therefore, they maintain a "buy" rating on Innovent Bio and have raised the target price from HKD 55 to HKD 58. The bank has raised its rating.
Innovent Bio (01801.HK) received a shareholding of 10.625 million shares from JPMorgan.
On 16th September, according to the latest equity disclosure data from the Hong Kong Stock Exchange, on 10th September 2024, innovent bio (01801.HK) received shareholding by JPMorgan Chase & Co. at an average price of 42.2314 Hong Kong dollars per share, increasing its holdings by 10.625 million shares, involving approximately 0.449 billion Hong Kong dollars. After the shareholding, JPMorgan Chase & Co.'s latest holding is 103,341,743 shares, and the holding ratio has increased from 5.69% to 6.33%.
Increased support for innovative drugs, the collective rise of the innovative drug sector, sino biopharm (01177) rose 4.5%.
Jingu Finance News | The innovative drug sector as a whole is on the rise, with Lai Kai Medicine (02105) up 6.07%, Sino Biopharm (01177) up 4.5%, Genscript Bio (01548) up 4.07%, Hutchmed (China) (00013) up 2.68%, and Innovent Bio (01801) up 2.1%. The State Council Information Office held a series of themed press conferences on 'Promoting High-Quality Development', and Li Li, Director of the National Medical Products Administration, stated at the conference the increased support for pharmaceutical R&D innovation. This includes the evaluation and approval, inspection and verification of innovative drugs and medical instruments that are key to the country's support.
Innovent Biologics Could Turn Profitable From 2025 -- Market Talk
Innovent Biologics Started at Add by China Galaxy International >1801.HK
The biopharmaceutical sector is showing strong momentum. Kelunbotai Bio (06990) rose 6.6%, and institutions pointed out that innovative drug companies are gradually approaching the breakeven point in terms of profit and loss.
Jinwu Financial News | The biopharmaceutical sector has shown strong performance, with Kexingbo Tai Bio (06990) up 6.6%, Kanno (02162) up 5.9%, Hutchmed (China) (00013) up 4.42%, and Innovent Bio (01801) up 3.81%. In terms of news, Zhongyin International Securities stated that the revenue growth of the innovative drugs sector is strong. Among the sectors, the best-performing sector is innovative drugs (Biotech), with an average revenue growth of 25.3%, mainly due to the positive medical insurance payment environment for innovative drugs and the authorized revenue obtained by some innovative drug companies through product overseas licensing.
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