Macquarie last night initiated coverage of BeiGene with an Outperform rating and $259 price target. BeiGene’s Brukinsa is poised to be the first “multi-blockbuster” by a Chinese firm and the most successful in Chinese history, the analyst tells investors in a research note. The firm says that as the only China biopharma company with an in-house global clinical development team, BeiGene is poised to become a specialist in rare blood cancers.
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