Analyst Yaron Werber from TD Cowen maintained a Buy rating on BeOne Medicines and increased the price target to $360.00 from $334.00.
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Yaron Werber has given his Buy rating due to a combination of factors including BeOne Medicines’ strong financial performance and promising pipeline developments. The company reported impressive Q2 results, with Brukinsa leading the charge as the top BTKi in the US and showing significant global growth. This robust performance was reflected in the $950 million global sales, surpassing both consensus and internal estimates.
Additionally, BeOne achieved its second consecutive quarter of GAAP profitability, demonstrating effective operational expense management and consistent financial health. The management’s decision to raise guidance further underscores their confidence in the business’s trajectory. With a solid pipeline and multiple data catalysts on the horizon, Werber views BeOne Medicines as a core investment, justifying the Buy rating and an increased price target of $360.
According to TipRanks, Werber is a 5-star analyst with an average return of 10.7% and a 55.80% success rate. Werber covers the Healthcare sector, focusing on stocks such as Ultragenyx Pharmaceutical, Argenx Se, and Ionis Pharmaceuticals.
In another report released today, Guggenheim also maintained a Buy rating on the stock with a $365.00 price target.