Zai Lab price target lowered to $123 from $128 at Citi

Citi lowered the firm’s price target on Zai Lab to $123 from $128 and keeps a Buy rating on the shares. The analyst expects the commercial uptake of Vyvgart will be the key focus for the stock in the near-term. Despite the current commercial opportunity being limited to the private pay and supplemental insurance markets, the early launch metrics provided on the earnings call suggest solid early demand and high intent to prescribe among target physicians, the analyst tells investors in a research note.