BeiGene initiated with an Outperform at JMP Securities

JMP Securities analyst Reni Benjamin initiated coverage of BeiGene with an Outperform rating and $288 price target. With lead asset Brukinsa on track to generate over $2B for the company in 2024, total revenues to reach $3.7B, sonrotoclax to report top-line data from a pivotal study in 2026, and a “strong” cash position of $2.6B, BeiGene is a “unique investment opportunity, even with the recent increase in shares,” the analyst tells investors in a research note. The firm says Brukinsa is one of the newer BTK inhibitors to enter a global market that could reach $12.2B by 2031.