WuXi Biologics (Cayman) Stock (OTC: WXXWY)

WuXi Biologics (Cayman) (OTC:WXXWY) Stock, Quote.Headers.trade-ideas

WuXi Biologics is one of the largest global biologics CRDMOs. WuXi Biologics, incorporated in 2014 following the reorganization of WuXi PharmaTech, later known as WuXi AppTec, now has global revenue of CNY 17 billion. North America represented 47.4% of total revenue in 2023. It adopts the follow and win the molecule strategy by providing end-to-end services, from drug discovery to commercial manufacturing. It also adopts a global dual-sourcing strategy by providing drug products and large-scale drug substance manufacturing.

US-China (Tatiana Popova and rawf8 by Shuttterstock)

Biotech

News

Health Care

Markets

General

WXXWY

Amidst regulatory challenges, WuXi AppTec faces backlash from industry giants. Biotechnology Innovation Organization cuts ties, citing national security concerns. Shares plummet as U.S. bills target Chinese biotech firms, despite denials and partnerships with global pharmaceutical players.

Congressional Scrutiny Intensifies On Chinese Biotech Firms:  WuXi AppTec Faces Biotech Exodus

Asia

Penny Stocks

AAGIY

BABA

CICHY

HNSPF

MPNGY

PNGAY

SBMFF

TCEHY

TSLA

XPEV

NIKE

Hong Kong stocks rallied Friday as the week closed out higher for consumer stocks and EV makers which investors hope will be the beneficiary of a forthcoming government stimulus.  

The Hang Seng Index ended the day 2.1% higher at 17,398.73 while China’s CSI 300 Index rose 1.4% to 3,562.39.

Strong Consumer Turnout Drives Hong Kong Stocks Higher Friday As China&#39;s Former Premier Li Keqiang Dies At 68

Intraday Update

Movers

Trading Ideas

AACTF

ABBRF

ADBE

ADUS

AEHR

AFGC

AGNC

AMXEF

AMXVF

APPF

APPN

APTO

ARCAY

ARCE

ARCVF

ASHTY

ASNB

ATGFF

ATRC

ATVI

AZRE

BCYC

BILI

BLDP

BOWFF

BURL

BWXT

BXMT

CDLX

CDPYF

CEVA

CFBK

CFFA

CLGX

CLHRF

CLPBF

CLPBY

CMCLF

CMLEF

CMXHF

CNNE

COST

CPRT

CPWHF

CTAS

CTXXF

CWEN

CWEN-A

CWST

DBOEY

DIMC

DLT RESOLUTION INC by DLT Resolution Inc.

DLTI

DNNGY

DOCU

DOOR

DRTGF

EDPFY

Stocks That Hit 52-Week Highs On Tuesday

WUXI BIOLOGICS UNSP/ADR by Wuxi Biologics (Cayman) Inc

WuXi Biologics (Cayman) Inc

On Monday, China launched an <a href="https://www.benzinga.com/government/regulations/24/12/42389113/nvidia-hit-with-antitrust-probe-in-china-stock-slides">antitrust investigation</a> into Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>). However, a top analyst maintains that the case may go unresolved.
What Happened: The investigation, reported by Chinese state media, centers on Nvidia's acquisition of Israeli networking company Mellanox Technologies, approved in 2020, and its potential violations of China's anti-monopoly laws.
Authorities are examining whether Nvidia bundling its AI chips with Mellanox's NVLink technology limits competition and whether the company provides lower-performance solutions to Chinese customers.
In a blog post, analyst Ming-Chi Kuo of TF Securities noted the geopolitical implications, suggesting the investigation could give China leverage amid <a href="https://www.benzinga.com/topic/us-china-relations-0">U.S.-China tensions</a>.
"This case may remain unresolved in the near term," he said, predicting the probe could follow historical precedents, such as Qualcomm's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) 15-month antitrust investigation in China.
See Also:&nbsp;<a href="https://www.benzinga.com/24/12/42379986/metas-llama-3-3-70b-outshines-rivals-nvidias-liquid-cooling-breakthrough-xai-raises-6b-this-week-in-ai">Meta&#8217;s Llama 3.3 70B Outshines Rivals, Nvidia&#8217;s Liquid-Cooling Breakthrough, xAI Raises $6B: This Week In AI</a>
China accounts for only 5% of Nvidia's data center revenue. Kuo believes the financial impact on the company will likely be limited in the short term but warned of future investigations.
"Investors should be prepared for potential scenarios where Nvidia's practices, including CUDA, come under further examination," he said.
Compute Unified Device Architecture is a parallel computing platform and API by Nvidia that enables developers to use GPUs for general-purpose computing with accessible programming tools and languages like C, C++, and Python.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Key Analysis of China's Antitrust Investigation into Nvidia<a href="https://t.co/RJJUfVWc8N">https://t.co/RJJUfVWc8N</a>
&mdash; 郭明錤 (Ming-Chi Kuo) (@mingchikuo) <a href="https://twitter.com/mingchikuo/status/1866282876599476389?ref_src=twsrc%5Etfw">December 10, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Why It Matters: This development coincides with President-elect Donald Trump&#8217;s ongoing suggestions of imposing <a href="https://www.benzinga.com/personal-finance/24/12/42367505/economists-warn-trumps-tariffs-on-canada-mexico-and-china-could-hurt-your-budget-more-than-help-it">higher tariffs on Chinese imports</a> — a move that typically shifts the financial burden onto domestic consumers through increased prices.
Technology experts appeared to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42393702/chinese-antitrust-investigation-into-nvidia-all-speculative-tech-expert">minimize the significance</a> of Chinese regulators&#8217; investigation into Nvidia.
For instance, analyst Patrick Moorhead noted that the investigation into Nvidia was unsurprising, given its dominant over 90% market share in a critical industry. Daniel Newman called the allegations speculative. Angela Zhang, a USC law professor suggested that China could be leveraging antitrust law as a tool against U.S. sanctions.
Nvidia is the world's leading provider of AI chips, with a market cap of $3.399 trillion, making it the most valuable company worldwide after Apple Inc.
Last month, Nvidia posted <a href="https://www.benzinga.com/news/earnings/24/11/42099904/nvidia-beats-q3-revenue-eps-estimates-supply-constraints-ding-stock-huang-says-age-of-ai-is-in-full-steam">third-quarter revenue</a> of $35.1 billion, a 94% increase year-over-year, surpassing the Street consensus estimate of $33.12 billion.
Price Action: Nvidia&#8217;s stock fell 2.55% on Monday, closing at $138.81, with an additional 0.63% decline in after-hours trading. Despite this, Nvidia shares have skyrocketed 188.17% year-to-date, significantly outperforming the Nasdaq 100 index&#8217;s 29.6% gain over the same period, according to <a href="http://pro.benzinga.com/">data from Benzinga Pro</a>.
The consensus price target for Nvidia, based on assessments from 40 analysts, is $170.56, with Rosenblatt projecting the highest target at $220 as of Nov. 21. Latest ratings from DA Davidson, Phillip Securities, and Truist Securities average $154.67, suggesting a potential upside of 12.13%.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/quote/NVDA/analyst-ratings"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/09203956/Screenshot-2024-12-10-at-7.09.51%E2%80%AFAM-1024x375.png" alt="" class="wp-image-684277" /></a></figure>
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
Image via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/tech/24/12/42358400/elon-musks-xai-raises-6b-for-the-2nd-time-this-year-as-it-looks-to-take-the-challenge-to-openai-google-and-jeff-bezos-backed-anthropic?itm_source=parsely-api">Elon Musk's xAI Raises $6B For The 2nd Time This Year As It Looks To Take The Challenge To OpenAI, Google And Jeff Bezos-Backed Anthropic</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Legal

Tech

Media

NVDA

QCOM

Nvidia China Antitrust Probe May 'Remain Unsolved' In Near Term Says Top Analyst; Investors Should Be Prepared For Increased Scrutiny

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) could see significant growth from a new budget electric vehicle offering, according to prominent investor Gary Black, who <a href="https://www.benzinga.com/24/12/42391708/tesla-to-370-here-are-10-top-analyst-forecasts-for-monday">raised his price target for the EV maker</a> by 27% to $380 from $300 on Monday.
What Happened: Black, Managing Partner at The Future Fund LLC, attributes his &#8220;increased conviction&#8221; to expectations that Tesla will launch a $25,000-$30,000 hatchback model, potentially capturing approximately 15% of the global compact car market.
His revised earnings estimates surpass Wall Street consensus, projecting adjusted earnings per share of $3.80 for 2025 and $17.00 by 2030.
The investment thesis comes amid Black&#8217;s recent portfolio adjustments. In November, his fund trimmed its Tesla position at $351 after the stock <a href="https://www.benzinga.com/markets/24/11/42159444/gary-black-defends-tesla-trim-at-351-no-one-ever-went-broke-by-taking-profits-amid-stocks-150-surge">surged 150% from April lows</a>. The Future Fund&#8217;s Tesla investment strategy has proved profitable, with an average purchase price of $162 and a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41870590/tesla-remains-core-for-gary-black-despite-price-cuts-earnings-drop-nvidia-google-eli-lilly-among-top-performers-in-tech-bulls-portfolio">selling price of $252 since early 2023</a>.
Tesla ranks among the top five positions for The Future Fund Active ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FFND#NYSE">FFND</a>). 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Raising my <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> price target to $380 from $300, based on increased conviction that TSLA will launch a $25K-$30K hatchback that vaults TSLA into the global compact category (~15% global share). I have increased my TSLA Adj EPS as follows: &#8211; 2025 $3.80 from $3.60 (WS $3.29) -… <a href="https://t.co/EInUAo0VOZ">pic.twitter.com/EInUAo0VOZ</a>
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1866187649041490057?ref_src=twsrc%5Etfw">December 9, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> Summary &#8211; 12/09/2024 Upside: 1/ EV adoption +20%-25% per yr 2/ Fed cuts rate by another 25bp by Y.E. 3/ Higher FSD take rates/licensing deal 4/ Trump streamlines process for securing autonomous driving licenses nationally 5/ $25K-$30K Model Q Compact launch FY'25 1H…
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1866204309915885821?ref_src=twsrc%5Etfw">December 9, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/news/earnings/24/12/42400723/oracle-q2-earnings-revenue-miss-eps-miss-ai-growth-ellison-says-opportunity-is-unimaginable">Oracle Q2 Earnings: Revenue Miss, EPS Miss, AI Growth, Ellison Says &#8216;Opportunity Is Unimaginable&#8217;</a>
What Happened: Black identified several potential catalysts for Tesla, including continued EV adoption growth of 20-25% annually, increased Full Self-Driving adoption, and possible autonomous driving license streamlining under President-elect Donald Trump&#8216;s administration. 
However, he also noted key risks, including the potential elimination of the $7,500 EV tax credit and regulatory challenges for autonomous driving features.
The revised target reflects Black&#8217;s confidence in Tesla&#8217;s long-term growth, using a PEG ratio of 1.75x and projected long-term EPS growth of 25%. Despite his optimistic outlook, Black recently expressed caution about Tesla&#8217;s current valuation, noting that the stock&#8217;s 50% rise since November&#8217;s election has been driven primarily by P/E expansion <a href="https://www.benzinga.com/24/12/42377001/analyst-says-he-is-very-bullish-but-cautious-about-teslas-stock-rally-notes-eps-revisions-have-not-kept-pace-with-stock-price-since-trumps-victory">rather than earnings estimate revisions</a>.
Price Action: Tesla closed at $389.79 on Monday, up 0.15% for the day. In after-hours trading, the stock rose further to $392.35, gaining an additional 0.66%. Year to date, Tesla shares have surged by 56.91%.
According to <a href="https://www.benzinga.com/quote/TSLA/analyst-ratings">data from Benzinga Pro</a>, Tesla has a consensus price target of $251.06 from 34 analysts, ranging from a high of $411 to a low of $24.86. The latest ratings from Deutsche Bank, Guggenheim, and BofA Securities average $315, implying a 19.71% downside.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/09202715/Screenshot-2024-12-10-at-6.56.15%E2%80%AFAM-1024x378.png" alt="" class="wp-image-684250" /></figure>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/health-care/24/12/42398524/person-of-interest-named-in-unitedhealthcare-ceos-murder-ghost-gun-found">Person of Interest Named In UnitedHealthcare CEO&#8217;s Murder: Ghost Gun Found</a></li>
</ul>
Image Via Shutterstock 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

FFND

Gary Black Boosts Tesla Price Target By 27% To $380 Based On 'Increased Conviction' That Elon Musk-Led Company Will Launch $25K Hatchback

Citigroup analyst Yigal Nochomovitz maintains Merus (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRUS#NASDAQ">MRUS</a>) with a Buy and raises the price target from $89 to $97.

Price Target

Analyst Ratings

MRUS

Citigroup Maintains Buy on Merus, Raises Price Target to $97

Citigroup analyst Michael Bilerman maintains SITE Centers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SITC#NYSE">SITC</a>) with a Neutral and lowers the price target from $18 to $16.

SITC

Citigroup Maintains Neutral on SITE Centers, Lowers Price Target to $16

UBS analyst Leonardo Olmos downgrades TIM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TIMB#NYSE">TIMB</a>) from Buy to Neutral.

Downgrades

TIMB

UBS Downgrades TIM to Neutral

UBS analyst Jay Sole maintains Nike (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) with a Neutral and lowers the price target from $82 to $80.

UBS Maintains Neutral on Nike, Lowers Price Target to $80

UBS initiates coverage on Zoetis (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZTS#NYSE">ZTS</a>) with a Neutral rating and announces Price Target of $196.

Initiation

UBS Initiates Coverage On Zoetis with Neutral Rating, Announces Price Target of $196

UBS analyst Josh Silverstein maintains Chord Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRD#NASDAQ">CHRD</a>) with a Buy and lowers the price target from $168 to $161.

CHRD

UBS Maintains Buy on Chord Energy, Lowers Price Target to $161

UBS analyst Erika Najarian maintains Wells Fargo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) with a Buy and raises the price target from $69 to $85.

UBS Maintains Buy on Wells Fargo, Raises Price Target to $85

UBS analyst Josh Silverstein maintains Antero Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AR#NYSE">AR</a>) with a Neutral and raises the price target from $31 to $35.

UBS Maintains Neutral on Antero Resources, Raises Price Target to $35

UBS analyst Josh Silverstein maintains Occidental Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) with a Neutral and lowers the price target from $58 to $51.

UBS Maintains Neutral on Occidental Petroleum, Lowers Price Target to $51

UBS analyst Josh Silverstein maintains Murphy Oil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MUR#NYSE">MUR</a>) with a Neutral and lowers the price target from $38 to $34.

UBS Maintains Neutral on Murphy Oil, Lowers Price Target to $34

UBS analyst Josh Silverstein maintains APA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APA#NASDAQ">APA</a>) with a Neutral and lowers the price target from $28 to $27.

UBS Maintains Neutral on APA, Lowers Price Target to $27

UBS analyst Josh Silverstein maintains Ovintiv (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OVV#NYSE">OVV</a>) with a Buy and lowers the price target from $59 to $56.

UBS Maintains Buy on Ovintiv, Lowers Price Target to $56

UBS analyst Josh Silverstein maintains Diamondback Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>) with a Buy and lowers the price target from $235 to $212.

FANG

UBS Maintains Buy on Diamondback Energy, Lowers Price Target to $212

UBS analyst Josh Silverstein downgrades Halliburton (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAL#NYSE">HAL</a>) from Buy to Neutral and lowers the price target from $36 to $34.

UBS Downgrades Halliburton to Neutral, Lowers Price Target to $34

Trading Halt: Halted at 7:50:00 p.m. ET - Trading Halt: Halt News Pending

UBS analyst Josh Silverstein upgrades Range Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RRC#NYSE">RRC</a>) from Sell to Neutral and raises the price target from $28 to $35.

Upgrades

UBS Upgrades Range Resources to Neutral, Raises Price Target to $35

UBS analyst Josh Silverstein upgrades Expand Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXE#NASDAQ">EXE</a>) from Neutral to Buy and raises the price target from $94 to $123.

UBS Upgrades Expand Energy to Buy, Raises Price Target to $123

UBS analyst Joshua Chan maintains Comfort Systems USA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FIX#NYSE">FIX</a>) with a Buy and raises the price target from $525 to $575.

UBS Maintains Buy on Comfort Systems USA, Raises Price Target to $575

Curon Biopharmaceutical, a Shanghai company, out-licensed global rights for a clinical-stage bispecific candidate to Merck (MSD) for $700 million upfront plus $600 million in milestones.

Week In Review: Curon Out-Licenses T-Cell-Engager To Merck For $700 Million Upfront

AMR Update - Mid-2024

Wuxi Biologics ADR Non-GAAP EPS of RMB0.52, revenue of RMB8.57M

Wuxi Biologics ADR Non-GAAP EPS of RMB0.52, revenue of RMB8.57B

WuXi Biologics (Cayman) Inc. 2024 Q2 - Results - Earnings Call Presentation

WuXi Biologics (Cayman) Inc. (WXXWY) Q2 2024 Earnings Call Transcript

WuXi Biologics: Consider Proposed Legislation And Financial Prospects

Chinese biotechs gain as drugmakers targeted in new security bill said to mull divestments

Comments

WuXi Biologics (Cayman)

WuXi Biologics (Cayman) (WXXWY) Forecast

WuXi Biologics (Cayman) (OTC:WXXWY) Stock, Quote.Headers.trade-ideas

Popular Channels

Tools & Features

Partners & Contributors

About Benzinga