HK Stock Market Move | Zai Lab (09688) rose more than 7% after its performance, and several major banks raised their target prices. The company has a rich catalyst pipeline this year.

ZAI LAB (09688) surged over 7%, up 7.86% to 27.45 Hong Kong dollars as of the time of publication, with a total trading volume of 30,743.3 million Hong Kong dollars. On the news front, ZAI LAB previously announced its annual financial results for the year ending December 31, 2024, with total revenue of 399 million US dollars, a year-on-year increase of 50%; the full-year revenue guidance for 2025 is between 560 million US dollars and 590 million US dollars. Sales revenue for Weiweijia and Weilijia in the fourth quarter of 2024 reached 30 million US dollars, with full-year sales revenue in 2024 totaling 93.6 million US dollars. Goldman Sachs raised the company's H share target price from 40.4 Hong Kong dollars to 42.01 Hong Kong dollars, reiterating that 2025 is a milestone year for ZAI LAB's development. CICC maintained a "outperform" rating for ZAI LAB and raised its Hong Kong stock target price by 22.5% to 34.41 Hong Kong dollars. The bank pointed out that the company has many catalysts in the next two years, expecting more data on ZL-1310 to be announced in the first half of this year, and also anticipating the submission of the mainland listing application for Bemarituzumab in the first half of the year. As for KarXT, the bank expects commercialization to begin next year.