Citi Raises Keymed Bio Target Price to HK$97.5, Keeps Buy/High Risk Call

Deep News08-23

Citi has released a research report stating that KEYMED BIO-B (02162) posted first-half 2026 revenue of RMB 617 million, up 24% year-on-year. Within that total, sales of stapokibart reached RMB 393 million, marking a robust 132% increase. Management has also lifted its full-year 2026 sales guidance for stapokibart from RMB 750 million to RMB 850 million, while reaffirming its peak sales target of more than RMB 5 billion.

The bank believes the market potential of stapokibart, CMG901, and CM512 has not yet been fully priced into the company's share price. As a result, Citi has raised its target price from HK$85 to HK$97.5, while maintaining a "Buy/High Risk" rating on the stock.

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