0908 GMT - Innovent Biologics' near-term stock performance may depend on the approval and sales of its potential blockbuster drug Mazdutide in 1H2025, according to Deutsche Bank Research analyst Cyrus Ng in a commentary. The biotech company's share price has rebounded 14% since January 25, outperforming its peers' average of 4.9% during the same period, Ng says. However, revenue growth slowed in Q4 compared to the previous quarter, although 2024 product sales remain in line with expectations, the analyst notes. Ng maintains a buy rating and a target price of HK$49.00. Shares were last up 0.3% at HK$36.35. (tracy.qu@wsj.com)
(END) Dow Jones Newswires
February 10, 2025 04:08 ET (09:08 GMT)
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