Citi analyst Yigal Nochomovitz initiated coverage of BeiGene with a Buy rating and $275 price target. Citi’s survey of 85 U.S. hematologists/oncologists suggests BeiGene’s flagship asset Brukinsa is positioned to become the favored BTK inhibitor for chronic lymphocytic leukemia patients starting first-line therapy, the analyst tells investors in a research note. The firm projects the global annual BTKi market will grow from its $7B revenue base in 2022 to $12B by 2028, of which, it sees BeiGene’s Brukinsa generating 2028 global sales of $4B.
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