Lyon: Upgraded target price of Ascletis BioScience (01801) to HKD 108.4, maintaining "outperform" rating.

According to the Wise Finance app, Lyon released a research report stating that Innovent Biologics (01801) provided an in-depth update on tumor rights at the R&D day held on June 28. The focus is on the establishment of a new generation of I/O and ADC platforms, especially PD-1/IL-2 IBI363. The company's target price was raised from HK$55.9 to HK$108.4 by the bank, maintaining an "outperform the market" rating. It also raised Innovent Biologics' sales forecasts for the fiscal years 2025 to 2027 by 1%, 1.3%, and 3.6%, and net profit forecasts by 8.9%, 6.8%, and 13.3% to reflect the company's recent product line progress.