--- title: "In \"The Big Banks,\" Citigroup lowered the target price for KELUN PHARMA to 500.7 yuan with a rating of \"Outperform the Market.\"" type: "News" locale: "en" url: "https://longbridge.com/en/news/280411406.md" description: "Citi released a research report, lowering the target price for KELUN BIO to RMB 500.7, maintaining a \"Outperform\" rating. The report pointed out that KELUN BIO's revenue grew by 6.5% to RMB 2.058 billion last year, but the net loss widened by 43.2% to RMB 382 million, both exceeding expectations. It is expected that product sales will grow in the second half of 2025, with management anticipating that sac-TMT sales will double and will disclose more clinical trial data. Sales forecasts were lowered by 15.7% and 11.9%, while net profit forecasts were cut by 85.9% and 51.5%" datetime: "2026-03-25T04:15:15.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/280411406.md) - [en](https://longbridge.com/en/news/280411406.md) - [zh-HK](https://longbridge.com/zh-HK/news/280411406.md) --- # In "The Big Banks," Citigroup lowered the target price for KELUN PHARMA to 500.7 yuan with a rating of "Outperform the Market." Citi published a research report indicating that KELUN PHARMA (06990.HK) had a revenue increase of 6.5% year-on-year to RMB 2.058 billion last year, with a net loss widening by 43.2% year-on-year to RMB 382 million, both exceeding expectations, mainly driven by stronger-than-expected collaboration revenue. The bank stated that product sales (excluding price adjustments related to the National Medical Insurance Drug List) are expected to grow semi-annually in the second half of 2025. Management expects that sales of sac-TMT will double this year after being included in the National Medical Insurance Drug List, and the company will disclose more Phase III clinical trial data for sac-TMT in first-line non-small cell lung cancer (NSCLC) this year. The bank has lowered KELUN PHARMA's sales forecasts for the next two years by 15.7% and 11.9%, respectively, and reduced its net profit forecasts by 85.9% and 51.5%. The target price has been adjusted from RMB 548.6 to RMB 500.7, maintaining an "outperform" rating ### Related Stocks - [520880.CN](https://longbridge.com/en/quote/520880.CN.md) - [002422.CN](https://longbridge.com/en/quote/002422.CN.md) - [159992.CN](https://longbridge.com/en/quote/159992.CN.md) - [159615.CN](https://longbridge.com/en/quote/159615.CN.md) - [510660.CN](https://longbridge.com/en/quote/510660.CN.md) - [588130.CN](https://longbridge.com/en/quote/588130.CN.md) - [159859.CN](https://longbridge.com/en/quote/159859.CN.md) - [516930.CN](https://longbridge.com/en/quote/516930.CN.md) - [159506.CN](https://longbridge.com/en/quote/159506.CN.md) - [159892.CN](https://longbridge.com/en/quote/159892.CN.md) - [516500.CN](https://longbridge.com/en/quote/516500.CN.md) - [513700.CN](https://longbridge.com/en/quote/513700.CN.md) - [159102.CN](https://longbridge.com/en/quote/159102.CN.md) - [588860.CN](https://longbridge.com/en/quote/588860.CN.md) - [159316.CN](https://longbridge.com/en/quote/159316.CN.md) - [513120.CN](https://longbridge.com/en/quote/513120.CN.md) - [588250.CN](https://longbridge.com/en/quote/588250.CN.md) - [159837.CN](https://longbridge.com/en/quote/159837.CN.md) - [520690.CN](https://longbridge.com/en/quote/520690.CN.md) - [516820.CN](https://longbridge.com/en/quote/516820.CN.md) - [159849.CN](https://longbridge.com/en/quote/159849.CN.md) - [512290.CN](https://longbridge.com/en/quote/512290.CN.md) - [06990.HK](https://longbridge.com/en/quote/06990.HK.md) - [513060.CN](https://longbridge.com/en/quote/513060.CN.md) - [560600.CN](https://longbridge.com/en/quote/560600.CN.md) - [512010.CN](https://longbridge.com/en/quote/512010.CN.md) ## Related News & Research - [Analyst Reiterates Buy on Microbix, Citing Temporary China Slowdown and Growing Diversified Demand](https://longbridge.com/en/news/286665358.md) - [Flow Pharma U.S. Patent Application Allowed for Issuance Covering Broad-Spectrum Ebola Therapy](https://longbridge.com/en/news/287076761.md) - [Ab&B Bio-Tech Starts Early-Stage Trials for High-Yield RSV Vaccine as Trading Remains Suspended](https://longbridge.com/en/news/286268861.md) - [Everest Medicines Director and Major Shareholder Raises Stake in Company](https://longbridge.com/en/news/286481551.md) - [20:03 ETHarbour BioMed Announces Promising Preclinical Data for LET003, Its First AI-Enabled Drug Candidate](https://longbridge.com/en/news/286688082.md)