CICC Raises AKESO Target Price to HK$225, Maintains "Outperform" Rating

Stock News
Aug 28

CICC issued a research report stating that AKESO's (09926) first-half revenue increased 37.75% year-over-year, with performance meeting the firm's expectations. The firm maintains its earnings forecasts for the company for this year and next year, continues to assign an "Outperform" rating, raises AK112's clinical success rate, and incorporates Summit AK112 re-licensing predictions into its valuation. Consequently, the firm significantly raised the company's target price by 87.5% to HK$225.

The report mentioned that the company's core drugs Kaitanni (AK104) and Yifangda (AK112) have been included in the National Medical Insurance Catalog. Considering that both products have distinct clinical advantages and high recognition from medical professionals and patients, coupled with the company's accelerated sales investment, the firm holds an optimistic outlook on the domestic sales of both products.

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