《大行》摩根大通升信達生物(01801.HK)目標價至84元 重申「增持」評級
摩根大通研究報告指,因應信達生物(01801.HK)即將出現的催化劑,以及在美國臨床腫瘤學會(ASCO)會議後模型更新,將信達生物目標價由74元上調至84元,重申「增持」評級。
摩通指,在今年ASCO會議上,信達生物IBI363超出預期的總生存期(OS)數據推動信達生物股價上漲後,該行預期持續的臨床催化劑將進一步推動信達生物表現。關鍵催化劑包括IBI363的臨床數據更新,特別是其美國數據和新適應症數據,以及早期創新藥物(如腫瘤學和免疫學領域的ADC和雙特異性抗體)的第一階段數據。如果這些早期藥物的初步數據能證明表現出色,市場可能會對這些候選藥物賦予更高價值,評估其潛力是否與IBI363相似。信達目標到2030年有五款藥物進入全球第三階段多區域臨床試驗(MRCT)。
此外,摩通預期瑪仕度(月太)(mazdutide)將在1至2個月內在中國獲批,這可能為股票提供選擇性,摩通對瑪仕度(月太)在2025年的銷售預期較為溫和。信達生物計劃在6月底舉行研發日,雖然摩通不預期會有重大新數據公布,但預計會有研發進展的更新。在ASCO會議後,摩通將IBI363的銷售預測上調約95%,並提高管線估值,同時將信達生物的目標價由74元上調至84元,並重申「增持」評級。摩通指,信達仍是該行生物科技覆蓋範圍內的首選。
信達生物今日高開1.91%,最高見80.2元,創三年半高。現報77.55元,升6.02%,成交2,949.99萬股,涉資22.82億元。
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