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CCBI Lifts INNOVENT BIO's TP to HKD128 w/ Higher Adj. Earnings Forecasts
2025-11-07 15:33:30
INNOVENT BIO (01801.HK)'s 3Q25 total product revenue grew by over 40% YoY to more than RMB3.3 billion, beating expectations and surpassing the broker's full-year growth forecast of 37%, according to CCBI's research report. Its revenue also leaped by 22% QoQ, a faster pace compared to 15% in the same period last year.

Viewing INNOVENT BIO as a leader in China's biologics for treating challenging chronic and fatal diseases, CCBI raised its 2025-27 total product revenue forecasts for the company by 1%/ 2%/ 1% to RMB11.5 billion/ RMB18.3 billion/ RMB23.3 billion. The 2025-27 adjusted earnings forecasts were also lifted from RMB1.6 billion/ RMB2.3 billion/ RMB5.3 billion to RMB1.7 billion/ RMB10.3 billion/ RMB5.6 billion.

INNOVENT BIO's target price increased from HKD125 to HKD128, with an Outperform rating remaining in place.
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