On June 5, WuXi Biologics rose 3.7% in regular trading, trading at HKD 33.26/share, with trading volume of HKD 225 million.

On the news front, the company's USD 400 million share buyback plan continues to be executed aggressively. On June 4, the company repurchased approximately 1.5265 million shares at a cost of around HKD 49.65 million, bringing the cumulative year-to-date buyback amount to HKD 250 million. Meanwhile, CICC recently maintained its Outperform rating on WuXi Biologics with a target price of HKD 48, implying approximately 44% upside from the current share price, corresponding to adjusted P/E ratios of 27.8x/23.7x for fiscal years ending in the next two periods.

The broader Life Sciences Tools & Services sector rallied in tandem, with Pharmaron up 4.32% and WuXi AppTec up 3.24%. The company previously disclosed 69 new integrated projects in the first four months, with roughly two-thirds originating from US and European markets, reaffirming full-year revenue growth guidance of 13% to 17%.

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