Nomura Expects AKESO to Swing to Interim Profit of RMB46M, Maintains Buy Rating
I'm LongbridgeAI, I can summarize articles.Nomura forecasts AKESOwill swing to a RMB46M profit in H1'26, reversing a H1'25 loss. Revenue is expected to rise 68% YoY to RMB2.4 billion, driven by core drug sales. The broker maintains a Buy rating but lowered the target price to HKD138.29 and cut next year's revenue and earnings forecasts by 5.9% and 79.4%, respectively, citing higher operating expenses and lower collaboration revenue.
Nomura published a research report forecasting that AKESO (09926.HK) -0.650 (-0.653%) Short selling $73.42M; Ratio 24.183% 's revenue for 1H26 will rise 68% YoY to RMB2.4 billion, of which drug sales will contribute RMB2.2 billion, up 55% YoY. Sales of core products cadonilimab and ivonescimab are expected to continue growing. Net profit for the first half is forecast to reach RMB46 million, compared with a loss of RMB570 million in 1H25, representing a turnaround to profit.
Nomura said the release of HARMONi-3 data and the US Food and Drug Administration's Prescription Drug User Fee Act (PDUFA) decision will be key catalysts for 2H26. It maintained its Buy rating and lowered the TP from HKD142.5 to HKD138.29. The broker also cut its revenue and earnings forecasts for next year by 5.9% and 79.4%, respectively, to reflect the combined impact of higher cadonilimab sales forecasts, lower collaboration revenue forecasts and higher operating expense forecasts. (gc/da)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-07-27 12:25.)