BeiGene price target lowered to $161 from $196 at Bernstein

Bernstein analyst Rebecca Liang lowered the firm’s price target on BeiGene to $161 from $196 and keeps a Market Perform rating on the shares. The firm is updating its model to reflect the company’s latest earnings results, changes in pipeline assets, and commercial updates from its competition, the analyst tells investors in a research note. Competition remains fierce in the Zanubrutinib space with bendamustine and mosunetuzumab being another two approved therapies with comparable or better overall response rate and complete response, the firm notes.