CLSA Raises REMEGEN TP to HKD144.8, Maintains Outperform Rating
I'm LongbridgeAI, I can summarize articles.CLSA raised REMEGEN'starget price to HKD144.8 from HKD136.9, maintaining an Outperform rating. This adjustment follows strong Q2 2026 results, with sales surging 808.6% YoY and net profit reaching RMB4.334 billion, driven by RC18 sales and RC148 licensing fees. CLSA increased FY2026 sales and profit forecasts by 52.6% and 136.8% respectively, while lowering subsequent years' estimates. Management maintained its full-year 2026 operating breakeven guidance.
CLSA said in a report that REMEGEN (09995.HK) +1.800 (+2.242%) Short selling $46.99M; Ratio 9.920% 's sales in 2Q26 increased 808.6% YoY, while net profit reached RMB4.334 billion, both exceeding market expectations, benefiting from strong sales momentum of RC18 and contribution from out-licensing fees of RC148. Management maintained its guidance for operating breakeven for full-year 2026. Overseas progress of the company's RC148, RC18 and RC48 is proceeding as planned.
Considering the earnings performance, the broker revised its forecasts by raising REMEGEN's FY2026 sales forecast by 52.6%, while lowering FY2027 and FY2028 forecasts by 23.8% and 12.1%, respectively. FY2026 net profit forecast was raised by 136.8%, while FY2027 and FY2028 forecasts were lowered by 65.1% and 25.2%, respectively. The target price was raised from HKD136.9 to HKD144.8. The Outperform rating was maintained. Meanwhile, (ha/u)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-08-25 16:25.)