According to the research report released by Futu, Akeso (09926) is rated as a "buy", with an expected profit for next year and 2026 of 288 million yuan and 1.029 billion yuan, respectively. The pure earnings per share for the next two years are expected to be 33 cents and 119 cents in RMB. The target price has been raised from HKD 47 to HKD 58.

The report states that the company's product sales in the first half of the year increased by 24% YoY to 0.939 billion yuan. The bank believes that the company's future catalysts include the announcement of its HARMONi-2 data at the World Conference on Lung Cancer (WCLC) in early September. AK104, the company's PD-1/CTLA-4 bi-specific tumor immunotherapy drug, is expected to obtain two new indications in the next 12 months, including cervical cancer. In addition, two other non-oncology drugs are expected to obtain domestic approval this year, and the company's first bi-specific antibody drug is expected to enter the clinical stage in the first half of next year.