BeiGene (ONC – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst David Li from Bank of America Securities maintained a Buy rating on the stock and has a $300.00 price target.
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David Li has given his Buy rating due to a combination of factors including BeiGene’s strong sales performance and promising product pipeline. The company’s self-developed drugs, such as tislelizumab and zanubrutinib, have shown significant year-over-year and month-over-month growth in sales, indicating robust demand and market penetration.
Additionally, BeiGene’s licensed-in products have also contributed positively to its sales figures, further supporting the company’s financial health. The analyst also highlights the company’s leadership in the BTK inhibitor market in China, with zanubrutinib capturing a substantial share. These factors, along with the company’s on-track clinical progress, underpin the optimistic price objective of $300, making BeiGene a compelling investment opportunity.
In another report released on May 8, Leerink Partners also reiterated a Buy rating on the stock with a $334.00 price target.