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Major Bank Rating | Bank of America Merrill Lynch: Raises Zai Lab's Target Price to HKD 19.38, Maintains "Buy" Rating.
Bank of America Securities' report states that Zai Lab's commercial performance in the second quarter was stable. Due to its solid sales performance and on-track R&D progress, the target price was raised from HKD 16.28 to HKD 19.38, maintaining a 'buy' rating. The report mentions the strong growth of its medications VYVGART/NUZYRA/QINLOCK after their inclusion in the National Medical Insurance Drug List, leading to an upward revision of revenue forecasts after 2024.
Express News | Zai Lab Ltd : Leerink Partners Cuts Target Price to $61 From $63
Express News | Cantor Fitzgerald Reiterates Overweight on Zai Lab
Zai Lab Analyst Ratings
Zai Lab's second quarter product revenue net amount was $0.1001 billion, a year-on-year increase of 45%, with cash reserves reaching $0.73 billion.
Zai Lab's Q2 product revenue net profit was $0.1001 billion, a year-on-year growth of 45%, with cash reserves reaching $0.73 billion; Beigene's Q2 total revenue reached $0.929 billion, a year-on-year growth of 56%, achieving non-GAAP operating profit.
Bank of America Securities Sticks to Their Buy Rating for Zai Lab (ZLAB)
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