Core Viewpoint - Citigroup's report indicates that despite a 280% increase in the stock price of the company this year, it remains undervalued among the biotech stocks covered by the bank [1] Group 1: Valuation and Drug Potential - The current valuation reflects only the value of two late-stage candidate drugs, pimicotinib and irpagratinib, while the market has not fully recognized the potential of its differentiated innovative drugs with high licensing potential [1] - The drug ABSK043 can be used in combination with targeted therapies and poses no significant safety issues, providing an oral treatment option for patients [1] Group 2: Clinical Development and Future Prospects - The KRAS series drugs, including ABSK141 and ABSK211, have demonstrated good oral bioavailability and efficacy in vivo, with plans to enter clinical stages from the second half of this year to next year [1] - The company is developing additional candidate drugs beyond oncology, with its cardiovascular metabolic disease drug P151 having entered the IND initiation stage [1] Group 3: Price Target and Rating - Citigroup raised the target price for the company from HKD 17.5 to HKD 25, maintaining a "Buy" rating [1]
大行评级｜花旗：大幅上调和誉目标价至25港元 维持“买入”评级