CICC Raises HUTCHMED TP to HKD26 on Bright Prospects for Overseas Filing of Savolitinib
I'm LongbridgeAI, I can summarize articles.CICC raised HUTCHMED's target price to HKD26, citing positive Phase III SAFFRON trial results for savolitinib combined with osimertinib. The combination showed significant improvements in progression-free and overall survival for MET-driven EGFR-mutated lung cancer patients post-osimertinib. These results support overseas regulatory filings, particularly in the US, enhancing commercialization potential. CICC maintained its 'Outperform' rating and profit forecasts while increasing the TP by 9.24% based on a DCF model.
CICC said in a report that HUTCHMED (00013.HK) +0.260 (+1.295%) Short selling $12.02M; Ratio 20.592% announced positive results from the global Phase III registrational SAFFRON trial of savolitinib (Orpathys) in combination with AstraZeneca's third-generation EGFR TKI osimertinib (Tagrisso). The combination achieved statistically and clinically meaningful improvements in progression-free survival (PFS) and overall survival (OS) in MET-driven EGFR-mutated lung cancer patients whose disease progressed after osimertinib treatment.
CICC believes the positive PFS and OS results from the SAFFRON trial are of critical significance for the overseas filing of savolitinib, strongly supporting regulatory submissions in core overseas markets such as the US. If the savolitinib and osimertinib combination therapy gains approval, it is expected to have a viable commercialization pathway and considerable market potential in the future.
The broker largely maintained its attributable net profit forecasts for HUTCHMED for this year and next year at USD55.55 million and USD88.65 million, respectively, and maintained its "Outperform" rating. Considering the success of SAFFRON and the increased probability of overseas success for savolitinib, CICC raised its TP by 9.24% to HKD26 based on the DCF model. (su/a)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-08-18 12:25.)