【券商聚焦】花旗：新一代免疫肿瘤治疗药物有望重塑癌症免疫治疗格局上调多支生物科技股目标价

金吾财讯

Jul 28, 2025

金吾财讯 | 花旗发报指，新一代免疫肿瘤治疗药物，如双特异性或三特异性PD-1/VEGF、PD-1/IL-2、PD-1/VEGF/CTLA4等，有望重塑癌症免疫治疗的格局。预计这类药物的潜在市场规模可超过620亿美元。花旗表示，康方生物(09926)的ivonescimab在HARMONi-2/HARMONi-6试验中显示具统计学意义及临床意义的无进展生存期改善，以及令人鼓舞的中期总生存期数据。信达生物(01801)的IBI363在IO治疗的非小细胞肺癌及冷肿瘤中也显示出令人鼓舞的数据。花旗指出，关键免疫疗法产品如Keytruda和Opdivo的专利将于2028年到期，跨国药企需要补充新药以维持市场地位和收入。默沙东、百时美施贵宝和辉瑞已引进新一代免疫疗法候选药物，该行认为其他制药公司仍在积极寻找这领域的资产。基于上述分析，花旗上调多只生物科技股目标价及评级：给予康方生物“买入”评级，目标价由98港元上调至185港元；维持信达生物“买入”评级，目标价由90港元上调至105港元；维持三生制药(01530)“买入”评级，目标价由21港元上调至36港元；维持君实生物(01877)“买入/高风险”评级，目标价由17港元上调至32港元；维持中国生物制药(01177)“买入”评级，目标价由6.20港元上调至8.80港元。

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

1
2
3
4
5
6
7
8
9
10

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers | Global Stocks, Options & Futures Trading App","description":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","keywords":"tiger brokers,tiger trade,tiger brokers singapore,broker online,stock trading in singapore,share trading singapore,brokerage firm singapore,trading app,stock broker singapore,stock trading platforms,trading account","social":{"ogDescription":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/news/2554723160"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2554723160\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/2554723160?lang=en_US&edition=fundamental","thumbnail":"https://static.szfiu.com/news/20250109/NjBmYTFlMmI3YzYzNjVkMWZlODgyMTcwNTE1Njk3NDY=.jpg","is_english":false,"pubTime":"2025-07-28 13:41","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2554723160","market":"other","top_or_hot":-1,"title":"【券商聚焦】花旗：新一代免疫肿瘤治疗药物有望重塑癌症免疫治疗格局 上调多支生物科技股目标价","media":"金吾财讯","content":"<html><body><p>金吾财讯 | 花旗发报指，新一代免疫肿瘤治疗药物，如双特异性或三特异性PD-1/VEGF、PD-1/IL-2、PD-1/VEGF/CTLA4等，有望重塑癌症免疫治疗的格局。预计这类药物的潜在市场规模可超过620亿美元。花旗表示，<a href=\"https://laohu8.com/S/09926\">康方生物</a>(09926)的ivonescimab在HARMONi-2/HARMONi-6试验中显示具统计学意义及临床意义的无进展生存期改善，以及令人鼓舞的中期总生存期数据。<a href=\"https://laohu8.com/S/01801\">信达生物</a>(01801)的IBI363在IO治疗的非小细胞肺癌及冷肿瘤中也显示出令人鼓舞的数据。花旗指出，关键免疫疗法产品如Keytruda和Opdivo的专利将于2028年到期，跨国药企需要补充新药以维持市场地位和收入。<a href=\"https://laohu8.com/S/MRK\">默沙东</a>、百时美<a href=\"https://laohu8.com/S/BMY\">施贵宝</a>和<a href=\"https://laohu8.com/S/PFE\">辉瑞</a>已引进新一代免疫疗法候选药物，该行认为其他制药公司仍在积极寻找这领域的资产。基于上述分析，花旗上调多只生物科技股目标价及评级：给予康方生物“买入”评级，目标价由98港元上调至185港元；维持信达生物“买入”评级，目标价由90港元上调至105港元；维持<a href=\"https://laohu8.com/S/01530\">三生制药</a>(01530)“买入”评级，目标价由21港元上调至36港元；维持<a href=\"https://laohu8.com/S/688180\">君实生物</a>(01877)“买入/高风险”评级，目标价由17港元上调至32港元；维持<a href=\"https://laohu8.com/S/01177\">中国生物制药</a>(01177)“买入”评级，目标价由6.20港元上调至8.80港元。</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>【券商聚焦】花旗：新一代免疫肿瘤治疗药物有望重塑癌症免疫治疗格局 上调多支生物科技股目标价</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n【券商聚焦】花旗：新一代免疫肿瘤治疗药物有望重塑癌症免疫治疗格局 上调多支生物科技股目标价\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1086022552\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/19a93586c3b023ec6ebfed568990555c);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">金吾财讯 </p>\n<p class=\"h-time\">2025-07-28 13:41</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p>金吾财讯 | 花旗发报指，新一代免疫肿瘤治疗药物，如双特异性或三特异性PD-1/VEGF、PD-1/IL-2、PD-1/VEGF/CTLA4等，有望重塑癌症免疫治疗的格局。预计这类药物的潜在市场规模可超过620亿美元。花旗表示，<a href=\"https://laohu8.com/S/09926\">康方生物</a>(09926)的ivonescimab在HARMONi-2/HARMONi-6试验中显示具统计学意义及临床意义的无进展生存期改善，以及令人鼓舞的中期总生存期数据。<a href=\"https://laohu8.com/S/01801\">信达生物</a>(01801)的IBI363在IO治疗的非小细胞肺癌及冷肿瘤中也显示出令人鼓舞的数据。花旗指出，关键免疫疗法产品如Keytruda和Opdivo的专利将于2028年到期，跨国药企需要补充新药以维持市场地位和收入。<a href=\"https://laohu8.com/S/MRK\">默沙东</a>、百时美<a href=\"https://laohu8.com/S/BMY\">施贵宝</a>和<a href=\"https://laohu8.com/S/PFE\">辉瑞</a>已引进新一代免疫疗法候选药物，该行认为其他制药公司仍在积极寻找这领域的资产。基于上述分析，花旗上调多只生物科技股目标价及评级：给予康方生物“买入”评级，目标价由98港元上调至185港元；维持信达生物“买入”评级，目标价由90港元上调至105港元；维持<a href=\"https://laohu8.com/S/01530\">三生制药</a>(01530)“买入”评级，目标价由21港元上调至36港元；维持<a href=\"https://laohu8.com/S/688180\">君实生物</a>(01877)“买入/高风险”评级，目标价由17港元上调至32港元；维持<a href=\"https://laohu8.com/S/01177\">中国生物制药</a>(01177)“买入”评级，目标价由6.20港元上调至8.80港元。</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"09926","symbol_name":"康方生物","start_time":0,"source_url":"1962987","article_id":"2554723160","we_media_id":"1086022552","thumbnails":["https://static.szfiu.com/news/20250109/NjBmYTFlMmI3YzYzNjVkMWZlODgyMTcwNTE1Njk3NDY=.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2554723160","pubTimestamp":1753681278,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"金吾财讯","introduction":"「金吾财讯」以精准用户需求为切入点，打造一站式港美股投资细分领域品牌。依托战略合作伙伴凤凰网财经，将港美股内容传播到全球华人圈。","home_visible":1,"id":"1086022552","head_image":"https://static.tigerbbs.com/19a93586c3b023ec6ebfed568990555c"},"summary":"金吾财讯 | 花旗发报指，新一代免疫肿瘤治疗药物，如双特异性或三特异性PD-1/VEGF、PD-1/IL-2、PD-1/VEGF/CTLA4等，有望重塑癌症免疫治疗的格局。默沙东、百时美施贵宝和辉瑞已引进新一代免疫疗法候选药物，该行认为其他制药公司仍在积极寻找这领域的资产。","collect":0,"end_time":0,"defaultTopTitle":"","property":["rate"],"viewcount":null,"language":"zh","relate_stocks":{"159837":"生物科技","09926":"康方生物","01530":"三生制药","01877":"君实生物","01177":"中国生物制药","01801":"信达生物","06078":"海吉亚医疗"},"translate_title":"[Brokerage Focus] Citigroup: A new generation of immuno-oncology therapy drugs are expected to reshape the cancer immunotherapy landscape and raise the target prices of many biotechnology stocks","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"159837":1,"06078":1,"09926":0.9,"01530":0.9,"01877":0.9,"01177":0.9,"01801":0.9},"content_text":"金吾财讯 | 花旗发报指，新一代免疫肿瘤治疗药物，如双特异性或三特异性PD-1/VEGF、PD-1/IL-2、PD-1/VEGF/CTLA4等，有望重塑癌症免疫治疗的格局。预计这类药物的潜在市场规模可超过620亿美元。花旗表示，康方生物(09926)的ivonescimab在HARMONi-2/HARMONi-6试验中显示具统计学意义及临床意义的无进展生存期改善，以及令人鼓舞的中期总生存期数据。信达生物(01801)的IBI363在IO治疗的非小细胞肺癌及冷肿瘤中也显示出令人鼓舞的数据。花旗指出，关键免疫疗法产品如Keytruda和Opdivo的专利将于2028年到期，跨国药企需要补充新药以维持市场地位和收入。默沙东、百时美施贵宝和辉瑞已引进新一代免疫疗法候选药物，该行认为其他制药公司仍在积极寻找这领域的资产。基于上述分析，花旗上调多只生物科技股目标价及评级：给予康方生物“买入”评级，目标价由98港元上调至185港元；维持信达生物“买入”评级，目标价由90港元上调至105港元；维持三生制药(01530)“买入”评级，目标价由21港元上调至36港元；维持君实生物(01877)“买入/高风险”评级，目标价由17港元上调至32港元；维持中国生物制药(01177)“买入”评级，目标价由6.20港元上调至8.80港元。","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1,"need_auth":false,"code":"91000000","status":"200"}}}