BofA analyst David Li lowered the firm’s price target on BeiGene to $163 from $200 and keeps a Neutral rating on the shares given the company’s on-track pipeline development. The firm notes the monthly sales of the self-developed drugs pamiparib/tislelizumab/zanubrutinib was RMB1.0M/184.6M/40.4M in December 2023, implying year-over-year change of 6.9%/66.0%/-2.0% and month-over-month change of -13.5%/4.0%/-18.5%. Due to the intensifying competition of BTK inhibitors in overseas markets, BofA lowered the long-term revenue forecast for the company’s zanubrutinib.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on BGNE: