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<Research>M Stanley Hikes INNOVENT BIO (01801.HK) TP to $67, Lifts Growth Forecast for Key Products
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Based on INNOVENT BIO (01801.HK)'s product revenue in 1H24 and 3Q24, it raised its YoY growth forecast for its core product, sintilimab (TYVYT), from 15% to 40%, and its series of biosimilars such as rituximab, adalimumab, and bevacizumab, Morgan Stanley said in a research report. Correspondingly, R&D and sales costs are also expected to rise. Morgan Stanley revised its EPS forecast for INNOVENT BIO from 2024 to 2026 from a loss of RMB0.70, a loss of RMB0.50 and a profit of RMB0.14 to a loss of RMB0.78, a loss of RMB0.47 and a profit of RMB0.15. The target price was slightly raised from $66.5 to $67. The stock was rated as Overweight. AAStocks Financial News |
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