CICC: Maintains "Outperform" rating on Junshi Biosciences (01877.HK), target price HK$21.3; innovative R&D pipeline gradually entering harvest period

Zhitong Finance APP has learned that CICC issued a research report stating it maintains a "Outperform" rating and a target price of HK$21.3 for Junshi Biosciences (01877.HK), based on DCF valuation, implying 41.7% upside from the current share price. In the third quarter of 2026, the company achieved operating revenue of RMB 817 million, up 28.2% year on year, with results in line with the bank's expectations. The bank believes that the company's domestic sales are steadily ramping up, a global commercialization network is gradually taking shape, multiple registrational studies are being launched successively, candidate molecules are entering registrational clinical research in batches, and its innovative R&D platform is entering a harvest period.