Yaron Werber, an analyst from TD Cowen, maintained the Buy rating on BeiGene (BGNE – Research Report). The associated price target is $235.00.
Yaron Werber’s rating is based on the solid performance of BeiGene’s Brukinsa and the company’s promising pipeline developments. Werber is particularly impressed by the strong quarterly sales growth of Brukinsa, which is anticipated to become the market-leading BTK inhibitor due to its best-in-class efficacy. The drug’s successful launches in the US and Europe, coupled with secured reimbursement in key markets, support the optimism for its continued growth. Moreover, the disciplined management of operating expenses and the improvement in gross margins underline a robust financial discipline within the company.
Additionally, Werber is encouraged by BeiGene’s pipeline, noting that multiple New Molecular Entities (NMEs) have entered clinical trials, with more than ten Phase 1 trials expected to start in 2024. The progression of potentially registrational trials for other drug candidates, such as sonrotoclax and BGB-16673, further highlights the depth and potential of BeiGene’s research and development activities. The combination of these factors, including strong product revenue growth, operational efficiency, and an exciting pipeline, contribute to Werber’s Buy rating and the establishment of a new price target for BeiGene’s stock.
In another report released on February 24, J.P. Morgan also maintained a Buy rating on the stock with a $184.00 price target.
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BeiGene (BGNE) Company Description:
BeiGene, Ltd.is a biopharmaceutical company. The company primarily focuses on developing molecularly targeted and immuno-oncology drugs for the treatment of cancer.
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