Citibank: Raises the target price for HUTCHMED (00013) to HKD 39, maintaining a Buy/High Risk rating.

Citi has released a research report stating that it has raised the target price for HUTCHMED (00013) from HKD 36 to HKD 39, while maintaining a "Buy / High Risk" rating. The bank also increased its revenue forecasts for the company's oncology/immunology business for 2026, 2027, and 2028 by 27%, 26%, and 14%, respectively, and raised its earnings per share forecasts to USD 0.08, USD 0.09, and USD 0.13. HUTCHMED has reached a licensing agreement with GSK for HMPL-A830 (KRAS-EGFR ATTC). Citi believes that GSK's recognition validates the ATTC platform concept and that the deal was concluded earlier than expected by the bank. Additionally, Citi anticipates that HMPL-A251 and HMPL-A580 will have their first patient doses administered from the end of this year to early next year, at which point more human data will further validate the ATTC platform.