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<Research>Daiwa Downgrades AKESO (09926.HK) to Hold on Lack of ST Catalysts, Elevates TP to $116
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Daiwa released a research report downgrading AKESO (09926.HK) from Buy to Hold due to a lack of short-term catalysts. The PD-1/VEGF bispecific tumor immunotherapy drug, Ivonescimab, remains AKESO's only meaningful engine, with the next major event being the release of HARMONi-3 'progression-free survival' data by the end of this year, the broker noted. Daiwa currently adopted a wait-and-see approach, awaiting meaningful catalysts beyond Ivonescimab. Considering the higher licensing revenue forecast from global sales of Ivonescimab, and based on a discounted cash flow model, Daiwa elevated its target price for AKESO from $100 to $116. AASTOCKS Financial News Website: www.aastocks.com |
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