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Investing.com - Goldman Sachs initiated coverage on Abbisko Therapeutics (HK:2256) with a Buy rating and set a price target of HK$27.10.
The investment bank believes Abbisko has the potential to develop into a global biotech company with significant market share in precision medicine, according to Goldman Sachs analyst Ziyi Chen.
Goldman Sachs cited the strong endorsement from Merck KGaA as a global partner as one of the key factors supporting its positive outlook on the company.
The firm highlighted pimicotinib, Abbisko’s CSF-1R inhibitor, as having a best-in-class profile that could gain meaningful global market share in TGCT/cGvHD, with estimated risk-adjusted global peak sales of US$1.6 billion.
Goldman Sachs also noted Abbisko’s deep expertise in small-molecule research and development, which supports a three-step expansion roadmap from small-molecule oncology to next-generation ADC, with further potential expansion into autoimmune and metabolic diseases.
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