friendsbingohall| Morgan Stanley: Yu Kangfang Biotech's "overweight" rating target price of HK$64

Morgan Stanley released a research report sayingfriendsbingohall, Kangfang Biotech (09926)'s share price has a 70% to 80% chance of rising in the next 30 days, with a target price of HK$64 and is given an "overweight" rating.

The bank explained that it was because Kangfang Biotech's AK112 -303 drug was approved by the State Food and Drug Administration to treat refractory patients with epidermal growth factor receptor (EGFR) mutant non-small cell lung cancer. The above drugs are the second bispecific antibody drugs approved by the mainland and are all developed by Kangfang Biotech. As a result, Morgan Stanley maintains its basic expectation for the successful performance of the operating income of the above-mentioned drugs and believes that the current stock price level should become a favorable entry point.