[ET Net News Agency, 26 June 2019] Credit Suisse raised its target price for Shanghai
Junshi Biosciences (01877) to HK$38.5 from HK$37 and maintained its "outperform" rating.
Junshi announced the purchase of 20% of Anwita's outstanding shares and acquired greater
China rights of Anwita's innovative preclinical drug AWT008 (IL-21 fusion protein), which
expands Junshi's IO pipeline, said the research house.
However, due to the early development stage, Credit Suisse doesn't expect any revenue
contribution from AWT008 in the next 5 years.
Junshi recently received IND approval by NMPA for its innovative drug JS005 (IL-17A).
Credit Suisse thinks JS005 is complementary to UBP-1211 (anti-TNFa) to capture the 4mn
autoimmune disease patient base in China.
Credit Suisse increased its revenue forecast for 2022 and 2023 by RMB84mn and RMB260mn
to factor in the newly-acquired HOT-1010 and new development of JS005. (KL)
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01877 JUNSHI BIO
Nominal 
9.650 -0.060 (-0.618%) Research Report
26/06/2019 18:01
[I-bank focus]CS lifts Junshi Biosciences (01877) to HK$38.5
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