瑞银首予三生制药买入评级 目标价30港元 重大许可协议印证研发能力

Group 1 - UBS initiates coverage of Sangamo Therapeutics (01530.HK) with a "Buy" rating and a target price of HKD 30 [1] - The report highlights Sangamo's core products targeting hematology and autoimmune diseases, emphasizing a record-breaking licensing agreement with Pfizer worth USD 6.15 billion for SSGJ-707 (PD-1/VEGF bispecific antibody) [1] - UBS forecasts a compound annual growth rate (CAGR) of 11.7% for revenue and 12.1% for net profit from 2024 to 2034 for Sangamo [1] Group 2 - Key catalysts include potential data updates for SSGJ-707 in the second half of 2025, recognition of prepaid revenue in Q3, and the initiation of overseas clinical trials for SSGJ-707 [1]