---
title: "Citi lowers Zai Lab's target price to $58, third-quarter revenue misses expectations"
type: "News"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/265060235.md"
description: "Citi has lowered the target price for Zai Lab to $58, citing that the company's third-quarter revenue was approximately $116 million, which was 16% and 22% below expectations. Management has reduced its revenue guidance for the year from $560 million to $590 million to at least $460 million and has canceled its operating expense balance target. Total product revenue is expected to be $457 million this year, and although management has a deep understanding of the Chinese market, challenges remain. Clinical data will become a catalyst for the stock, maintaining a \"Buy/High Risk\" rating"
datetime: "2025-11-10T02:50:39.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/265060235.md)
  - [en](https://longbridge.com/en/news/265060235.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/265060235.md)
---

> 支持的语言: [English](https://longbridge.com/en/news/265060235.md) | [繁體中文](https://longbridge.com/zh-HK/news/265060235.md)


# Citi lowers Zai Lab's target price to $58, third-quarter revenue misses expectations

Citi published a research report indicating that Zai Lab (09688.HK) had total revenue of approximately USD 116 million in the third quarter, which is 16% and 22% lower than the bank's and market forecasts, respectively. Zai Lab's management significantly reduced its revenue guidance for this year from the previous USD 560 million to USD 590 million, down to at least USD 460 million, and removed the target of achieving operational expense balance this year.

The bank estimates that Zai Lab's total product revenue this year will be approximately USD 457 million. Considering the reset of the trajectory of its commercial business in China, although management has a deep understanding of the local market, the process will still be more challenging than expected. The bank also expects that the clinical data to be announced will serve as a catalyst for the stock, lowering Zai Lab's target price from USD 69 to USD 58, maintaining a "Buy/High Risk" rating

### 相关股票

- [Zai Lab (ZLAB.US)](https://longbridge.com/zh-CN/quote/ZLAB.US.md)
- [ZAI LAB (09688.HK)](https://longbridge.com/zh-CN/quote/09688.HK.md)

## 相关资讯与研究

- [Guotai Haitong Remains a Buy on Zai Lab Ltd (1ZLB)](https://longbridge.com/zh-CN/news/277338249.md)
- [Zai Lab's Q3 Loss Narrows as Revenue Jumps 14%; Shares Fall 8%](https://longbridge.com/zh-CN/news/264767884.md)
- [BaaS and payments are becoming intertwined: Citi's Will Artingstall](https://longbridge.com/zh-CN/news/281232825.md)
- [BREAKINGVIEWS-Citi is a prime candidate to revive big-bank M&A](https://longbridge.com/zh-CN/news/281230102.md)
- [Citi Nabs Ex-Morgan Stanley MD in Natural Resources](https://longbridge.com/zh-CN/news/280957404.md)