Bank of America Securities raises the target price for SKB BIO to 522 yuan, reiterating a "Neutral" rating

Bank of America Securities published a report, raising the target price for SKB BIO (06990.HK) from HKD 471.5 to HKD 522; reaffirming a "Neutral" rating. This is due to clinical progress meeting expectations, but short-term authorization opportunities are limited.

The firm indicated that the target price was raised to reflect encouraging data showing significant improvements in progression-free survival (PFS) for sac-TMT and A166, as well as the recent approval by the National Medical Products Administration for sac-TMT for second-line EGFR mutation non-small cell lung cancer (NSCLC) and A166 for second-line and above HER2-positive breast cancer (BC). Consequently, revenue forecasts for 2025 to 2027 were increased by 1% to 5%, along with an upward adjustment of long-term forecasts