Bank of America Securities Maintains Buy Rating on Innovent Biologics with HK$116.8 Target
Stock News
Apr 28
Bank of America Securities has reaffirmed its "Buy" rating for Innovent Biologics (01801), setting a target price of HK$116.8. The company reported a 32% year-over-year increase in total sample drug sales for February, reaching RMB 487.3 million. Sales of bevacizumab grew by 31.7% to RMB 150.5 million, while sintlimab sales saw a slight decline of 2.7% to RMB 181.4 million. Among other products, rituximab and tafolecimab injection recorded sales of RMB 57.8 million and RMB 50.2 million, representing growth of 12.3% and 1,766.9%, respectively. Mazdutide achieved monthly sales of RMB 8.2 million, up 5.1% month-over-month, making it one of the few products that maintained sales momentum during the holiday period.
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