HSBC: Upgrade Coherent Bio (06990.HK) Target Price to HK$648, Positive Research Results Obtained by the Company

According to the WiseFinance app, Morgan Stanley released a research report stating that the recent stock price performance of CStone Pharmaceuticals (06990.HK) has been strong, believed to be mainly due to the antibody-drug conjugate (ADC) sacituzumab govitecan (sac-TMT) targeting the human trophoblastic cell surface antigen 2 (TROP2) achieving its primary endpoint in the OptiTROP-Lung06 Phase III clinical trial in China. This is the first time that a combination therapy of ADC + PD-1 has shown significantly better efficacy than Keytruda + chemotherapy at this stage. The firm has raised the company's target price from HK$535 to HK$648 and maintains a "hold" rating.