大行评级|花旗:上调和誉目标价至17.5港元 维持“买入”评级

格隆汇
Aug 11, 2025

花旗发表研究报告,认为和誉现估值偏低,基于其2款晚期候选药pimicotinib与irpagratinib都具高度确定性,且差异化创新管线有望实现对外授权。该行预期irpagratinib二线肝细胞癌三期临床试验的成功率极高,其估值应被纳入考量因素。另外,该行认为和誉在2025及2026年将会有关键催化剂出现,关注其pimicotinib上市审批及商业化表现、irpagratinib三期数据公布,以及ABSK043及ABSK061等多项候选药物的数据更新,和潜在的商业合作。 该行将和誉2026年收入预测由2.89亿元下调至2.8亿元,每股亏损预测由0.38元调整至0.39元,并预期2027年收入及每股亏损分别为4.52亿及0.34元;维持“买入”评级,目标价由10港元升至17.5港元。

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