MSINBIO@EC2602A

Nomura Raises Target Price for Innovent Biologics to HKD 114.64, Maintains 'Buy' Rating

JPMorgan 增持信达生物 58.59 万股

CMBI Maintains Buy Rating on Innovent Biologics, Target Price at HKD 105.00

CSC Financial Maintains Buy Rating on Innovent Biologics

CLSA Sees Positive Outlook for Innovent Biologics After Licensing Deal, Raises Target Price

Goldman Sachs Issues Buy Rating on Innovent Biologics

Cenata Therapeutics: Teprasertide and Semaglutide Prices Adjusted After Entering Insurance, Sales Continue to Grow

CICC Raises Revenue Forecast for Innovent Biologics and Maintains Outperform Industry Rating

BOA Securities Reports Strong 2025 Performance for Innovent Biologics

Innovent Biologics and Eli Lilly Enter into Strategic Collaboration to Develop New Drugs

JPMorgan Increases Holding in Innovent Biologics by 1.233667 Million Shares

Goldman Sachs Raises Profit Forecasts and Target Price for Innovent Biologics

Innovent Biologics Sees 60% Q4 Revenue Growth

Innovent Biologics Reports 45% Growth in Product Revenue in 2025 and Entry into National Medical Insurance Drug List

JPMorgan Increases Stake in Innovent Biologics to 5%

Innovent IBI3003 Receives FDA Fast Track Designation

Credence Biosciences and Ollin Biosciences Announce Positive Phase 1b Clinical Trial Results for IBI324

Morgan Stanley Increased Holdings in Innovent Biologics

BioBAY Supports the Growth of Innovent Biologics

Nomura Advises Selective Investment in China's Biopharmaceuticals Sector in 2026

GUANZE MEDICAL

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STARCOIN GROUP

HUILI RES

TIMES UNI GP

MANY IDEA CLOUD

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SILKWAVE INC

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WAI CHUN GROUP

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Nomura Adjusts Innovent Biologics' Price Target to HK$114.64 From HK$105.08, Keeps at Buy

marketscreener

INNOVENT BIO

Nomura Holdings, Inc.

Nomura Adjusts Innovent Biologics' Price Target to HK$114.64 From HK$105.08, Keeps at Buy

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On February 13th, the Hong Kong stock market showed weak sentiment, with all three major indices declining collectively. The Hang Seng Index fell 1.86% during the session and failed to hold its high position, while the Hang Seng TECH Index dropped 1.31%. Under the dual pressure of cooling expectations for a Federal Reserve interest rate cut and intensified industry competition, technology and consumer heavyweight stocks experienced widespread declines. Meituan fell over 3% due to market concerns about a new round of price wars, with Baidu, Alibaba, and others following suit in their corrections. Market risk aversion increased, with funds waiting for the core data at the end of the month to validate the recovery's strength. In terms of individual stocks, the new stock HAIZHI TECH GP surged over 224%, becoming the biggest highlight of the session

- As of February 13, 2026, Hong Kong's stock indices faced downward pressure, with the Hang Seng Index dropping 1.86% to 26,529.94 points amid weakening buying momentum.  
- The technology and retail sectors experienced declines due to concerns over competition and market dynamics, with companies like Tencent and Alibaba seeing significant decreases in share prices.  
- Investors remain cautious, awaiting crucial data later in the month to gauge economic recovery signals and their impact on major sectors.

Market Heartbeat

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Hang Seng TECH Index

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Hong Kong stock market intraday | The Hang Seng Index fell 1.86% under pressure, technology stocks broadly declined, Meituan dropped 3.48%, and the new stock HAIZHI TECH GP surged 224%

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In a recent press release dated February 12, 2026, it was announced that Innovent Biologics, Inc., a leading biopharmaceutical company based in both SAN FRANCISCO and SUZHOU, China, is focused on the development, manufacturing, and commercialization of top-notch medicines targeting oncology, cardiovascular, and metabolic conditions. The company, listed as HKEX: 01801, is dedicated to producing high-quality pharmaceuticals aimed at improving patient outcomes in these critical areas of healthcare.

Unusual Whales

ChinaAMC CSI Biotechnology Theme ETF

Guotai CSI Hugangshen Innovative Drugs Industry ETF

Huaan Hang Seng Biotech ETF

Tianhong CNI BIOMEDICINE ETF

China Merchants CSI Biotechnology Theme ETF

Bosera Hang Seng SCHK Innovative Drug Select ETF

E Fund CSI Biotechnology Theme ETF

Yinhua CSI Innovative Drugs Industry ETF

Hwabao WP Hang Seng SCHK Innovative Drug Select ETF

China Universal CNI HK Connect Innovative Drugs Industry ETF

Minsheng Royal CSI Biotechnology Theme ETF

E Fund Hang Seng SCHK Innovative Drug ETF

Fullgoal Hang Seng SCHK Innovative Drug & Healthcare ETF

Innovent starts Phase 3 trial of IBI354 for HER2-positive breast cancer, Feb. 12, 2026. Details at PRNewswire.

BOCOM International Holdings Company has maintained a Buy rating on Innovent Biologics (IVBXF) with a price target of HK$105.00. This follows a similar Buy rating from Bernstein’s Rebecca Liang. However, TipRanks reiterated a Hold rating on the company earlier this month.

Tip Ranks

BOCOM International Holdings Company Keeps Their Buy Rating on Innovent Biologics (IVBXF)

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Zhongtai Securities has maintained a Buy rating on Innovent Biologics (IVBXF) with a price target of HK$136.00. This follows a similar Buy rating from Bernstein’s Rebecca Liang on February 9. However, TipRanks – xAI reiterated a Hold rating on the company on February 4.

Ping An CSI Medicine and Medical Device Innovation ETF

Penghua CSI HK Connect Health Care Composite ETF

ChinaAMC SSE STAR Biology and Medicine ETF

Penghua SSE STAR Biology and Medicine ETF

GF CSI HK Innovative Drugs Industry ETF(QDII)

Guotai CSI Bio-medicine ETF

Guotai SSE STAR Brand Name Drug ETF

E Fund CSI 300 Health Care ETF

Bosera Hang Seng Health Care ETF(QDII)

ChinaAMC SSE Health Care ETF Initiating Fund

ChinaAMC CSI All Share Health Care Devices ETF

ICBCCS SSE STAR Biology and Medicine ETF

China Southern Hang Seng Biotech ETF(QDII)

Founder Fubon CSI Medicine and Medical Device Innovation ETF

ChinaAMC Hang Seng Biotechnology Technology ETF(QDII)

Zhongtai Securities Keeps Their Buy Rating on Innovent Biologics (IVBXF)

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KNOWLEDGE ATLAS(02513) rose 14.81%, with a trading turnover 1.1 Billion HKD, and a year-to-date rose 173.5%. DONGFANG ELEC(01072) rose 7.11%, with a trading turnover 810.9 Million HKD, and a year-to-date rose 23%. ZHAOJIN MINING(01818) fell 5.83%, with a trading turnover 1.7 Billion HKD, and a year-to-date rose 6.1%. GIGADEVICE(03986) fell 3.82%, with a trading turnover 252.3 Million HKD, and a year-to-date rose 86.4%.

- The Hang Seng Index increased by 0.58%, with a year-to-date rise of 6.1%.  
- The Hang Seng Tech Index rose 0.62%, but has declined 1.2% for the year.  
- Stocks like Zhihua (02513) surged by 14.81% and recorded a significant yearly gain of 173.5%, while stocks like Zhaojin Mining (01818) dropped by 5.83% despite a yearly increase of 6.1%.

Top Gainers & Losers

KNOWLEDGE ATLAS

DONGFANG ELEC

CSPC PHARMA

POP MART

ZHAOJIN MINING

GIGADEVICE

EASTROC

CTG DUTY-FREE

Top 5 HK Stock Gainers/Losers (>100B) (2.10)

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Mainland Chinese investors have increased their investments in Hong Kong-listed drug stocks, with the Hang Seng Southbound Connect Hong Kong Innovative Drug Index rising about 9% recently. CSPC Pharmaceutical Group and Sichuan Kelun-Biotech saw significant gains. Innovent Biologics announced a major collaboration with Eli Lilly worth up to $8.85 billion, enhancing its drug development process. This trend reflects a shift in how Chinese drug makers engage with global partners, as they gain more control over the development of their medicines amid a competitive pharmaceutical landscape.

南华早报

KELUN PHARMA

SKB BIO-B

Eli Lilly

Huatai-PB Hang Seng Innovative Drugs Industry ETF(QDII)

iShares US Pharma

Tibet Dongcai CSI Hugangshen Innovative Drugs Industry ETF

ICBCCS CNI HK Connect Innovative Drugs ETF

Yinhua CNI HK Connect Innovative Drugs ETF

Hwabao WP CSI Pharmaceuticals ETF

Mainland China’s investors pour into Hong Kong-listed drug stocks

CSC Financial has maintained a Buy rating on Innovent Biologics (IVBXF) with a price target of HK$136.12, while the stock closed at HK$85.40. The analyst consensus is a Strong Buy with an average price target of HK$123.87, indicating a potential upside of 45.05%. Bernstein also supports this with a Buy rating and a price target of HK$115.00.

CSC Financial Keeps Their Buy Rating on Innovent Biologics (IVBXF)

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The Hang Seng Biotechnology Index rose over 4% intraday, CSPC PHARMA rose over 7%, INNOVENT BIO rose nearly 7%, WUXI BIO and SINO BIOPHARM rose over 5%

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The UBS research report pointed out that INNOVENT BIO has reached a collaboration with Eli Lilly, involving a $350 million upfront payment and potential milestone payments of up to $8.5 billion. This collaboration model is for the joint development of a new company and is expected to provide INNOVENT BIO with upside potential, helping it achieve its goal of advancing 8 to 10 candidate drugs into clinical stages each year. UBS maintains a target price of HKD 137.4 for INNOVENT BIO and a "Buy" rating

AASTOCKS

UBS: INNOVENT BIO's collaboration with Eli Lilly is expected to have upward potential for drug advancement targets

Citi raised the target price for INNOVENT BIO to 130.2 yuan, maintaining a "Buy" rating. The bank pointed out that INNOVENT BIO reached an agreement with Eli Lilly to license certain oncology and immunology pipeline assets, with an upfront payment of 350 million USD and potential total milestone payments of approximately 8.5 billion USD. It believes this deal is a clear positive for INNOVENT BIO, demonstrating the recognition of its R&D capabilities by large global pharmaceutical companies

In "The Big Banks," Citigroup raised the target price for INNOVENT BIO to 130.2 yuan and maintained a "Buy" rating

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China’s Innovent Biologics has secured a new deal with Eli Lilly for the development of immunology and oncology drugs, involving an upfront payment of $350 million and potential additional payments of up to $8.5 billion based on milestones. Innovent will lead the development in China, while Lilly will have exclusive rights to commercialize the products outside Greater China. This partnership marks their seventh collaboration and aims to create a comprehensive innovation ecosystem, enhancing Innovent's R&D capabilities.

Reuters

Direxion Daily LLY Bull 2X Shares

Defiance Daily Target 2X Long LLY ETF

China's Innovent clinches new Lilly deal for immunology, cancer drug development

The Hang Seng Index opened higher, refreshing its nearly four-year high; Tencent's performance exceeded expectations, receiving collective bullish calls from major banks; Chip stocks strengthened on the logic of domestic substitution, with SMIC leading the gains; Ping An's stake increase in China Taiping H-shares ignited the insurance sector; Cryptocurrency concept stocks surged as Bitcoin hit a new high; In the pharmaceutical sector, Jingtai Holdings reported its first profit, rising over 11%, while East Buy saw a sudden 12% increase.

Tencent

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Tencent HK SDR 10to1

Tencent Holdings Limited

Ping An Insurance

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Ping An Ins HK SDR2to1

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SMIC

SMIC HK SDR 5to1

CPIC

CHINA TAIPING

SUNSHINE INS

Life and Health Insurance

REMEGEN

RemeGen

WuXi Biologics

BEONE MEDICINES

BeOne Medicines

Beigene

FI2 CSOP HSI

HUA HONG SEMI

Hua Hong

Hot Trades in Hong Kong Stocks (8.14) | Hang Seng Index Hits Four-Year High at Opening, Morgan Stanley Says Foreign Capital Accelerated Inflows into Chinese Stock Market in July

MSINBIO@EC2602A(19477.HK)

Nomura Adjusts Innovent Biologics' Price Target to HK$114.64 From HK$105.08, Keeps at Buy

Hong Kong stock market intraday | The Hang Seng Index fell 1.86% under pressure, technology stocks broadly declined, Meituan dropped 3.48%, and the new stock HAIZHI TECH GP surged 224%

Innovent starts Phase 3 trial of IBI354 for HER2-positive breast cancer, Feb. 12, 2026. Details at PRNewswire.

BOCOM International Holdings Company Keeps Their Buy Rating on Innovent Biologics (IVBXF)

Zhongtai Securities Keeps Their Buy Rating on Innovent Biologics (IVBXF)