Stock Track | Haixi Pharma Soars 14.56% Intraday on First Broker Coverage and Pipeline Optimism

Stock Track

04/27

Haixi Pharma's stock surged 14.56% during intraday trading on Monday, marking a significant upward movement.

The rally was primarily driven by Shenwan Hongyuan's first-ever coverage of the company, assigning a Buy rating with a target price of HK$298.28. The research report highlighted the company's solid financial performance, with its generic drug business achieving profitability for five consecutive years, supported by strong revenue and net profit growth.

Investor optimism was further bolstered by progress in Haixi Pharma's innovative drug pipeline. The lead candidate C019199 for osteosarcoma is expected to enter Phase III clinical trials soon, while HXP056, a next-generation oral treatment for fundus diseases, has shown favorable early data and is advancing in Phase II trials, with potential blockbuster prospects.

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