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Investing.com - UBS raised its price target on InnoCare Pharma Limited (HK:9969) (OTC:INCPF) to HK$25.20 from HK$13.60 on Thursday, while maintaining a Buy rating on the stock.
The price target increase follows UBS’s recent visit to the company, which strengthened its outlook on InnoCare’s global research and development efforts and domestic commercialization strategy.
UBS highlighted multiple drug candidates in InnoCare’s pipeline showing increased global potential, specifically orelabrutinib for multiple sclerosis and mesutoclax for acute myeloid leukemia and myelodysplastic syndrome.
The firm noted positive market performance for orelabrutinib in China, where it achieved a 30% share among BTK inhibitors in April-May 2025, demonstrating commercial traction in its home market.
UBS identified several upcoming catalysts for InnoCare, particularly potential global partnerships expected to develop in the second half of 2025, as key factors supporting the significant price target increase.
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