BeiGene (ONC – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Jill Wu from CMB International Securities maintained a Buy rating on the stock and has a $359.47 price target.
Jill Wu has given her Buy rating due to a combination of factors that highlight BeiGene’s strong market position and promising financial outlook. One key reason is the robust sales performance of zanubrutinib, which has shown significant year-over-year growth and has outperformed its competitors in the BTKi class. This success is reflected in BeiGene’s increasing market share and leadership in new patient prescriptions in the US.
Additionally, BeiGene’s achievement of its first-ever quarterly GAAP profitability marks a major milestone, driven by strong revenue growth and effective cost management. The company’s disciplined approach has led to improved gross profit margins and reduced operating expenses. Furthermore, BeiGene’s extensive research and development pipeline, particularly in solid tumors and hematology, positions it well for future growth. With several promising trials underway and expected data releases, BeiGene’s potential for expanding its treatment portfolio supports the positive outlook and Buy rating.
In another report released yesterday, TD Cowen also reiterated a Buy rating on the stock with a $334.00 price target.