A Look At Innovent Biologics (SEHK:1801) Valuation After Progress In Phase 3 IBI354 Breast Cancer Trial

Simply Wall St.

Feb 17

Innovent Biologics (SEHK:1801) has caught investor attention after dosing the first participant in its pivotal Phase 3 HeriCare-Breast01 trial for IBI354, a HER2-directed antibody drug conjugate in ...

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The share price has a year to date return of 13.07% alongside a 1 year total...","collect":0,"end_time":0,"defaultTopTitle":"simplywall.st","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK1589":"北水核心资产","DCF":"Dreyfus Alcentra Global Credit Income 2024 Target Term Fund, Inc","LU2065732104.USD":"ALLSPRING (LUX) WF GLOBAL SMALL CAP EQUITY \"I\" (USD) ACC","LU0455707207.USD":"FIDELITY FUNDS  CHINA INNOVATION \"A\" (USD) INC","LU2328871848.SGD":"Eastspring Investments - China A Shares Growth AS SGD","BK4097":"系统软件","BK1161":"生物科技","LU2488822045.USD":"ALLIANZ CHINA HEALTHY LIVING \"AT\" (USD) ACC","LU2097828557.USD":"AZ EQUITY CHINA \"A\" (USD) ACC","LU2097828631.EUR":"AZ EQUITY CHINA \"A\" (EUR) ACC","HK0000165453.HKD":"华夏精选大中华科技基金 A类港币","LU2097828714.EUR":"AZ EQUITY CHINA \"BAZ\" (EUR) ACC","LU2242644610.SGD":"Fidelity China Innovation A-ACC-SGD","LU2097828805.USD":"AZ EQUITY CHINA \"A-AZ\" (USD) ACC","LU1969619763.USD":"EASTSPRING INV CHINA A SHARES GROWTH \"A\" (USD) ACC","BK1583":"高瓴概念","PRGS":"Progress Software Corporation","LU0502904849.HKD":"FIDELITY FUNDS  CHINA INNOVATION \"A\" (HKD) ACC","LU2097828474.EUR":"AZ EQUITY CHINA \"A\" (EUR) ACC A","01801":"信达生物"},"translate_title":"信达生物（SEHK：1801）IBI354乳腺癌3期试验取得进展后的估值","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"DCF":1,"01801":0.9,"PRGS":1.5},"content_text":"Innovent Biologics (SEHK:1801) has caught investor attention after dosing the first participant in its pivotal Phase 3 HeriCare-Breast01 trial for IBI354, a HER2-directed antibody drug conjugate in breast cancer. See our latest analysis for Innovent Biologics. That Phase 3 milestone comes on the back of an eventful few weeks, including a new collaboration with Eli Lilly and strong 2025 product revenue figures. The share price has a year to date return of 13.07% alongside a 1 year total shareholder return of 131.43%, which suggests recent momentum has been strong despite some softer 30 and 90 day share price returns. If this oncology progress has caught your attention and you want to see what else is out there, our screener of 106 healthcare AI stocks is a useful way to spot other potential ideas in this space. With product revenue growth, a fresh Eli Lilly tie up and a clinical pipeline that includes IBI354, the stock has already re-rated sharply. Is Innovent still trading at a discount, or is the market already pricing in future growth? AdvertisementPreferred P/E of 120.7x: Is it justified? Innovent Biologics currently trades on a P/E of 120.7x, which is high compared both to the Asian biotech industry and to its own estimated fair level. P/E compares the current share price to earnings per share, so a higher P/E usually means the market is placing a richer price on each unit of profit. For a company like Innovent that has only recently become profitable, this can reflect investor focus on future earnings rather than the most recent year alone. At the same time, the SWS DCF model estimates that Innovent is trading at a 38.8% discount to its assessed fair value and its Return on Equity is currently 7.9%, which is described as low compared with a 20% benchmark. Taken together, this suggests the market price is rich relative to current earnings, while the cash flow based fair value points in a different direction that investors may want to understand in more detail. Relative to peers, Innovent's 120.7x P/E is described as expensive versus the Asian biotech industry average of 41.4x and also above a peer average of 58.2x. It is also well above the estimated fair P/E of 32.4x, which is a level the market could move toward if sentiment or expectations change. Explore the SWS fair ratio for Innovent Biologics Result: Price-to-earnings of 120.7x (OVERVALUED) However, you still need to weigh risks such as clinical or regulatory setbacks across its broad pipeline, as well as the possibility that high expectations around IBI354 cool materially. Find out about the key risks to this Innovent Biologics narrative. Another Take: DCF Points the Other Way While the 120.7x P/E suggests the shares are expensive, our DCF model paints a different picture. With an estimated fair value of HK$145.62 versus a current price of HK$89.10, Innovent is described as trading at a 38.8% discount. So which signal do you trust more: earnings or cash flow? Look into how the SWS DCF model arrives at its fair value. 1801 Discounted Cash Flow as at Feb 2026Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out Innovent Biologics for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover 223 high quality undervalued stocks. If you save a screener we even alert you when new companies match - so you never miss a potential opportunity.  Build Your Own Innovent Biologics Narrative If you see the data differently or simply prefer to dig through the numbers yourself, you can shape a personalised view in just a few minutes: Do it your way. A good starting point is our analysis highlighting 4 key rewards investors are optimistic about regarding Innovent Biologics. Ready for more investment ideas? If Innovent has sharpened your curiosity, do not stop here, you could miss out on other opportunities that match your goals and risk comfort.  Target value first and see which companies our screener ranks as 223 high quality undervalued stocks based on quality metrics and pricing signals. Prioritise resilience by scanning companies in our 324 resilient stocks with low risk scores that score well on stability and risk factors. Hunt for potential up and comers using the screener containing 571 high quality undiscovered gems that combine strong fundamentals with less market attention.   This article by Simply Wall St is general in nature. We provide commentary based on historical data\n    and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your\n    financial situation. We aim to bring you long-term focused analysis driven by fundamental data.\n    Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.\n    Simply Wall St has no position in any stocks mentioned.New: AI Stock Screener & AlertsOur new AI Stock Screener scans the market every day to uncover opportunities.• Dividend Powerhouses (3%+ Yield)• Undervalued Small Caps with Insider Buying• High growth Tech and AI CompaniesOr build your own from over 50 metrics.Explore Now for FreeHave feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com","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":"dataReport","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}