--- title: "UBS lowers AKESO's target price to 173.4 yuan, performance in the second half of last year was below expectations" type: "News" locale: "en" url: "https://longbridge.com/en/news/280748402.md" description: "UBS lowered the target price for AKESO to RMB 173.4 due to its performance in the second half of last year being below expectations. The company's revenue grew by 50% year-on-year to RMB 1.64 billion, but the net loss widened to RMB 543 million. It is expected that revenue will grow by 44% to RMB 3.1 billion in 2025, with the net loss expanding to RMB 1.1 billion. Based on this, UBS adjusted its revenue forecasts for 2026 and 2027 and raised its sales and R&D expense forecasts, maintaining a \"Buy\" rating" datetime: "2026-03-27T07:26:08.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/280748402.md) - [en](https://longbridge.com/en/news/280748402.md) - [zh-HK](https://longbridge.com/zh-HK/news/280748402.md) --- > Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/280748402.md) | [繁體中文](https://longbridge.com/zh-HK/news/280748402.md) # UBS lowers AKESO's target price to 173.4 yuan, performance in the second half of last year was below expectations UBS published a research report indicating that Akeso (09926.HK) saw a 50% year-on-year revenue growth in the second half of last year, reaching RMB 1.64 billion (same below), which was lower than the bank's and market expectations. The net loss widened from RMB 276 million in the same period last year to RMB 543 million, also falling short of the bank's and market expectations. For the full year of 2025, revenue is expected to grow by 44% year-on-year to RMB 3.1 billion, with the net loss expanding from RMB 500 million in 2024 to RMB 1.1 billion. Based on the performance in the second half of 2025, the bank has lowered its revenue forecasts for 2026 and 2027, while raising its sales and R&D expense forecasts, resulting in a downward revision of the earnings per share forecast from RMB 1.14 and RMB 2.73 to a loss of RMB 0.12 and a profit of RMB 1.06. The target price has been lowered from HKD 196.5 to HKD 173.4, maintaining a "Buy" rating ### Related Stocks - [Bosera Hang Seng SCHK Innovative Drug Select ETF (520690.CN)](https://longbridge.com/en/quote/520690.CN.md) - [E Fund CSI Biotechnology Theme ETF (159837.CN)](https://longbridge.com/en/quote/159837.CN.md) - [ChinaAMC Hang Seng Biotechnology Technology ETF(QDII) (159892.CN)](https://longbridge.com/en/quote/159892.CN.md) - [Guotai CSI Bio-medicine ETF (512290.CN)](https://longbridge.com/en/quote/512290.CN.md) - [ChinaAMC SSE STAR Biology and Medicine ETF (588130.CN)](https://longbridge.com/en/quote/588130.CN.md) - [Ping An CSI Medicine and Medical Device Innovation ETF (516820.CN)](https://longbridge.com/en/quote/516820.CN.md) - [Fullgoal Hang Seng SCHK Innovative Drug & Healthcare ETF (159506.CN)](https://longbridge.com/en/quote/159506.CN.md) - [AKESO (09926.HK)](https://longbridge.com/en/quote/09926.HK.md) - [Bosera Hang Seng Health Care ETF(QDII) (513060.CN)](https://longbridge.com/en/quote/513060.CN.md) - [China Merchants CSI Biotechnology Theme ETF (159849.CN)](https://longbridge.com/en/quote/159849.CN.md) - [China Southern Hang Seng Biotech ETF(QDII) (159615.CN)](https://longbridge.com/en/quote/159615.CN.md) - [E Fund CSI 300 Health Care ETF (512010.CN)](https://longbridge.com/en/quote/512010.CN.md) - [First Trust NYSE Arca Biotech ETF (FBT.US)](https://longbridge.com/en/quote/FBT.US.md) - [ICBCCS SSE STAR Biology and Medicine ETF (588860.CN)](https://longbridge.com/en/quote/588860.CN.md) - [Tianhong CNI BIOMEDICINE ETF (159859.CN)](https://longbridge.com/en/quote/159859.CN.md) - [Penghua SSE STAR Biology and Medicine ETF (588250.CN)](https://longbridge.com/en/quote/588250.CN.md) - [Hwabao WP Hang Seng SCHK Innovative Drug Select ETF (520880.CN)](https://longbridge.com/en/quote/520880.CN.md) - [Yinhua CSI Innovative Drugs Industry ETF (159992.CN)](https://longbridge.com/en/quote/159992.CN.md) - [Penghua CSI HK Connect Health Care Composite ETF (513700.CN)](https://longbridge.com/en/quote/513700.CN.md) - [Minsheng Royal CSI Biotechnology Theme ETF (516930.CN)](https://longbridge.com/en/quote/516930.CN.md) - [GF CSI HK Innovative Drugs Industry ETF(QDII) (513120.CN)](https://longbridge.com/en/quote/513120.CN.md) - [E Fund Hang Seng SCHK Innovative Drug ETF (159316.CN)](https://longbridge.com/en/quote/159316.CN.md) - [ChinaAMC SSE Health Care ETF Initiating Fund (510660.CN)](https://longbridge.com/en/quote/510660.CN.md) - [ChinaAMC CSI Biotechnology Theme ETF (516500.CN)](https://longbridge.com/en/quote/516500.CN.md) - [Huaan Hang Seng Biotech ETF (159102.CN)](https://longbridge.com/en/quote/159102.CN.md) - [Founder Fubon CSI Medicine and Medical Device Innovation ETF (560600.CN)](https://longbridge.com/en/quote/560600.CN.md) ## Related News & Research - [Akeso FY revenue RMB 3,056.3 million](https://longbridge.com/en/news/280664190.md) - [3SBio Nearly Doubles Revenue and Quadruples Profit in 2025, Keeps Dividend Steady](https://longbridge.com/en/news/281054154.md) - [RemeGen Receives Chinese Regulatory Nod for RC288 Clinical Trial](https://longbridge.com/en/news/281458440.md) - [Sunho Biologics Flags Audit Delays as Auditor Seeks More Documentation](https://longbridge.com/en/news/280992698.md) - [Clover Biopharmaceuticals Completes Enrollment in Phase 2 Trial for Combination Respiratory Vaccines](https://longbridge.com/en/news/280923090.md)