CICC: INNOVENT BIO (01801.HK) Sees Robust Growth Driven by Innovation; 2026 Earnings Outlook Upgraded
Company Performance: INNOVENT BIO (01801.HK) forecasts a 2025 product revenue of approximately RMB11.9 billion, reflecting a 45% year-over-year increase, with Q4 2025 revenue expected to reach RMB3.3 billion, up over 60% YoY.
Profit Forecasts: Following the 2026 Takeda collaboration, CICC raised its 2026 net profit forecast for INNOVENT BIO by 274% to RMB6.68 billion and introduced a 2027 forecast of RMB4.14 billion, maintaining an Outperform rating.
Target Price: Despite a recent decline in innovative drug valuations, CICC kept its target price for INNOVENT BIO at $118.3, indicating a potential upside of 48.06% from the current share price.
Market Activity: The company has experienced significant short selling activity, with $213 million shorted and a ratio of 32.3%, indicating market skepticism despite positive forecasts.
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<Midday Update> HSI Rises by 385 Points; HSTI Gains 55 Points; PING AN Surges Over 4%; YUM CHINA, LI NING, SHK PPT, BOC HONG KONG, and ZTO EXPRESS-W Reach New Peaks
Market Performance: The HSI rose by 385 points (1.5%) to 26,945, while the HSTI and HSCEI also saw gains of 55 points (1.0%) and 111 points (1.2%) respectively.
Active Heavyweights: Notable stocks included PING AN (+4.1%), HKEX (+2.8%), and BABA (+1.9%), with significant short selling activity reported for each.
Top Gainers: INNOVENT BIO and POP MART led the gains among HSI & HSCEI constituents, rising by 5.9% and 5.8% respectively, while KUAISHOU-W experienced a notable decline of 4.3%.
Significant Movements: CHINA EAST EDU and CHINA LIT saw substantial increases of 11.9% and 10.1%, while REALORD GROUP faced a significant drop of 10%.
G Sachs Assigns Buy Rating to INNOVENT BIO Following Strengthened Long-term Collaboration with Eli Lilly
Strategic Collaboration: INNOVENT BIO has partnered with Eli Lilly to enhance the global development of innovative oncology and immunology drugs, involving an upfront payment of USD 350 million and potential milestone payments of up to USD 8.5 billion.
Market Analysis: Goldman Sachs reports that INNOVENT BIO's stock is currently undervalued, with a target price of HKD 102.85, based on a risk-adjusted discounted cash flow analysis, despite a high market-implied cost of capital.
CICC: INNOVENT BIO (01801.HK) Sees Robust Growth Driven by Innovation; 2026 Earnings Outlook Upgraded
Company Performance: INNOVENT BIO (01801.HK) forecasts a 2025 product revenue of approximately RMB11.9 billion, reflecting a 45% year-over-year increase, with Q4 2025 revenue expected to reach RMB3.3 billion, up over 60% YoY.
Profit Forecasts: Following the 2026 Takeda collaboration, CICC raised its 2026 net profit forecast for INNOVENT BIO by 274% to RMB6.68 billion and introduced a 2027 forecast of RMB4.14 billion, maintaining an Outperform rating.
Target Price: Despite a recent decline in innovative drug valuations, CICC kept its target price for INNOVENT BIO at $118.3, indicating a potential upside of 48.06% from the current share price.
Market Activity: The company has experienced significant short selling activity, with $213 million shorted and a ratio of 32.3%, indicating market skepticism despite positive forecasts.
BofAS Maintains Buy Rating on INNOVENT BIO with Target Price of HKD 113.5
Strong Financial Performance: INNOVENT BIO reported a significant revenue increase for 4Q25, with a 45% year-over-year growth to RMB11.9 billion, aligning with BofA Securities' expectations.
Key Investor Insights: Six of INNOVENT BIO's products are set to be included in the 2026 National Reimbursement Drug List, which may lead to price cuts, while inventory price adjustments impacted 4Q25 growth.
Analyst Ratings: BofA Securities maintains a Buy rating on INNOVENT BIO, setting a target price of HKD113.5, reflecting confidence in the company's future performance.
Market Activity: The stock experienced a short selling of $213 million, with a ratio of 32.3%, indicating notable market interest and activity.
INNOVENT BIO Rises Approximately 6% Following Global Partnership with Eli Lilly
Stock Performance: INNOVENT BIO (01801.HK) saw a significant increase in stock price, opening nearly 4.7% higher and reaching a 5.9% rise to $84.2 during the morning session, with a trading volume of 3.895 million shares.
Strategic Collaboration: The company has entered a global strategic collaboration with Eli Lilly and Company to develop novel medicines in oncology and immunology, with INNOVENT BIO leading the development in China.
Financial Terms: As part of the agreement, INNOVENT BIO will receive a $350 million upfront payment and is eligible for up to approximately $8.5 billion in milestone payments based on future achievements.
Market Insights: Analysts from G Sachs have noted strong product sales for INNOVENT BIO last year, setting a target price of $102.85 and maintaining a "Buy" rating.
<Research>HSBC Identifies Hong Kong Stocks Receiving the Most Institutional Interest (Table)
Stock Performance Overview: Various stocks including AIA, Alibaba, and BYD showed mixed performance with AIA and Alibaba experiencing gains, while SMIC saw a decline.
Short Selling Data: Significant short selling activity was noted across multiple stocks, with BYD and SHK PPT having the highest short selling ratios at 34.941% and 35.602%, respectively.
Investment Ratings: Analysts have given "Buy" ratings to several companies including Alibaba, BOC Hong Kong, and Trip.com, while AIA is rated as "Hold."
Market Insights: JPMorgan estimates Alibaba's T-Head valuation to be between US$25-62 billion, indicating that a spinoff and separate listing is unlikely this year.
<Midday Update> HSI Rises by 385 Points; HSTI Gains 55 Points; PING AN Surges Over 4%; YUM CHINA, LI NING, SHK PPT, BOC HONG KONG, and ZTO EXPRESS-W Reach New Peaks
Market Performance: The HSI rose by 385 points (1.5%) to 26,945, while the HSTI and HSCEI also saw gains of 55 points (1.0%) and 111 points (1.2%) respectively.
Active Heavyweights: Notable stocks included PING AN (+4.1%), HKEX (+2.8%), and BABA (+1.9%), with significant short selling activity reported for each.
Top Gainers: INNOVENT BIO and POP MART led the gains among HSI & HSCEI constituents, rising by 5.9% and 5.8% respectively, while KUAISHOU-W experienced a notable decline of 4.3%.
Significant Movements: CHINA EAST EDU and CHINA LIT saw substantial increases of 11.9% and 10.1%, while REALORD GROUP faced a significant drop of 10%.
G Sachs Assigns Buy Rating to INNOVENT BIO Following Strengthened Long-term Collaboration with Eli Lilly
Strategic Collaboration: INNOVENT BIO has partnered with Eli Lilly to enhance the global development of innovative oncology and immunology drugs, involving an upfront payment of USD 350 million and potential milestone payments of up to USD 8.5 billion.
Market Analysis: Goldman Sachs reports that INNOVENT BIO's stock is currently undervalued, with a target price of HKD 102.85, based on a risk-adjusted discounted cash flow analysis, despite a high market-implied cost of capital.
CICC: INNOVENT BIO (01801.HK) Sees Robust Growth Driven by Innovation; 2026 Earnings Outlook Upgraded
Company Performance: INNOVENT BIO (01801.HK) forecasts a 2025 product revenue of approximately RMB11.9 billion, reflecting a 45% year-over-year increase, with Q4 2025 revenue expected to reach RMB3.3 billion, up over 60% YoY.
Profit Forecasts: Following the 2026 Takeda collaboration, CICC raised its 2026 net profit forecast for INNOVENT BIO by 274% to RMB6.68 billion and introduced a 2027 forecast of RMB4.14 billion, maintaining an Outperform rating.
Target Price: Despite a recent decline in innovative drug valuations, CICC kept its target price for INNOVENT BIO at $118.3, indicating a potential upside of 48.06% from the current share price.
Market Activity: The company has experienced significant short selling activity, with $213 million shorted and a ratio of 32.3%, indicating market skepticism despite positive forecasts.
BofAS Maintains Buy Rating on INNOVENT BIO with Target Price of HKD 113.5
Strong Financial Performance: INNOVENT BIO reported a significant revenue increase for 4Q25, with a 45% year-over-year growth to RMB11.9 billion, aligning with BofA Securities' expectations.
Key Investor Insights: Six of INNOVENT BIO's products are set to be included in the 2026 National Reimbursement Drug List, which may lead to price cuts, while inventory price adjustments impacted 4Q25 growth.
Analyst Ratings: BofA Securities maintains a Buy rating on INNOVENT BIO, setting a target price of HKD113.5, reflecting confidence in the company's future performance.
Market Activity: The stock experienced a short selling of $213 million, with a ratio of 32.3%, indicating notable market interest and activity.
INNOVENT BIO Rises Approximately 6% Following Global Partnership with Eli Lilly
Stock Performance: INNOVENT BIO (01801.HK) saw a significant increase in stock price, opening nearly 4.7% higher and reaching a 5.9% rise to $84.2 during the morning session, with a trading volume of 3.895 million shares.
Strategic Collaboration: The company has entered a global strategic collaboration with Eli Lilly and Company to develop novel medicines in oncology and immunology, with INNOVENT BIO leading the development in China.
Financial Terms: As part of the agreement, INNOVENT BIO will receive a $350 million upfront payment and is eligible for up to approximately $8.5 billion in milestone payments based on future achievements.
Market Insights: Analysts from G Sachs have noted strong product sales for INNOVENT BIO last year, setting a target price of $102.85 and maintaining a "Buy" rating.
<Research>HSBC Identifies Hong Kong Stocks Receiving the Most Institutional Interest (Table)
Stock Performance Overview: Various stocks including AIA, Alibaba, and BYD showed mixed performance with AIA and Alibaba experiencing gains, while SMIC saw a decline.
Short Selling Data: Significant short selling activity was noted across multiple stocks, with BYD and SHK PPT having the highest short selling ratios at 34.941% and 35.602%, respectively.
Investment Ratings: Analysts have given "Buy" ratings to several companies including Alibaba, BOC Hong Kong, and Trip.com, while AIA is rated as "Hold."
Market Insights: JPMorgan estimates Alibaba's T-Head valuation to be between US$25-62 billion, indicating that a spinoff and separate listing is unlikely this year.
