CICC: Upgraded Asia Times Medicine (06855.HK) target price to HKD 93, rating as "Buy".
Zhixin Financial APP has learned that JPMorgan Chase has released a research report stating that the stock price of Ascentage Pharma (06855.HK) has risen by approximately 83% so far this year, in sync with the strong performance of the Hang Seng Healthcare Index (up by approximately 78% so far this year). Following discussions with the management at the recent China-US Biotechnology Forum and considering the latest developments in the company's product pipeline, JPMorgan has updated its model. JPMorgan has incorporated more optimistic sales estimates for the products and significantly raised the target price of Ascentage Pharma from the original HK$52 to HK$93, an increase of 79%; maintaining a buy rating.
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