Morgan Stanley lowers the target price for Ascentage to 89 yuan, reiterates "Overweight" rating
JP Morgan published a research report indicating that it has lowered the target price for ASCENTAGE-B (06855.HK) from HKD 93 to HKD 89, maintaining an "Overweight" rating.
Morgan Stanley expects that Takeda Pharmaceutical Company will not exercise its exclusive option for olverembatinib before 2027. Additionally, the firm assumes that data from the Phase III clinical trial for chronic myeloid leukemia will be obtained in 2027, delaying its commercialization to 2028.
The firm stated that looking ahead, olverembatinib and lisaftoclax are differentiated and promising drugs that could become the cornerstone of the company's growth in the medium to short term
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