Jefferies Boosts INNOVENT BIO Target to HK$125, Maintains Buy Rating

Stock News14:20

Jefferies has released a research report highlighting that INNOVENT BIO (01801) delivered robust sales in the first half of the year, alongside improved profitability. Management has expressed strong confidence in achieving its 2027 product sales target of RMB 20 billion and has outlined a 2030 revenue goal of RMB 35 billion to RMB 40 billion, with the majority of this contribution expected from the Chinese market. Additionally, management anticipates a significant rise in global revenue contributions starting in 2030.

Driven by strong revenue growth, INNOVENT BIO is accelerating its global expansion efforts, with three assets—IBI363, IBI343, and IBI324—now advancing to Phase 3 multinational clinical trials (MRCT). In light of these developments, the firm has reiterated its "Buy" rating and lifted its price target from HK$105 to HK$125.

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