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G Sachs Raises INNOVENT BIO (01801.HK) TP to HKD105.94; 1Q Product Sales Beat
G Sachs said in a research report that INNOVENT BIO (01801.HK) recorded product revenue of over RMB3.8 billion in 1Q26, up more than 50% YoY and above the brokers forecast of abou...
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G Sachs Raises INNOVENT BIO (01801.HK) TP to HKD105.94; 1Q Product Sales Beat
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G Sachs said in a research report that INNOVENT BIO (01801.HK)  -1.650 (-1.860%)    Short selling $106.70M; Ratio 17.740%   recorded product revenue of over RMB3.8 billion in 1Q26, up more than 50% YoY and above the brokers forecast of about RMB3.5 billion. The strong growth was mainly driven by portfolio expansion of products such as Mazdutide and newly included products in the National Reimbursement Drug List.

The broker noted that two key data releases in June will become market focus. At the ADA conference, the company is expected to disclose more detailed early clinical data of its oral small-molecule GLP-1 drug IBI3032. Management previously briefed that the molecule achieved 10% weight loss within four weeks, demonstrating best-in-class potential. At the ASCO meeting, two sets of data for IBI363 (PD-1/IL-2b biased bispecific antibody) will be closely watched, particularly the first disclosure of Phase II clinical data for first-line non-small cell lung cancer.

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G Sachs raised its EPS forecasts for INNOVENT BIO for 2026 to 2028 to RMB1.42, RMB3.11 and RMB4.19, respectively, to reflect stronger-than-expected 1Q sales. The TP was slightly lifted from HKD104.61 to HKD105.94, with rating maintained at Buy. (hc/u)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-13 16:25.)

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