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BeiGene Second Quarter 2024 Earnings: Beats Expectations
Bank of America Securities: Reaffirmed Beigene's "Neutral" rating, with a target price increased to HKD 109.6.
Bank of America Securities released a research report reaffirming its neutral rating on Beigene (06160), and raised the target price from HKD 92.09 to HKD 109.6 due to intense competition and price pressure in the mainland market. The bank raised its sales forecast for the company this year by 10% based on the strong overseas sales of zanubrutinib, and also raised its sales forecast for next year and the year after by 17% and 20%, respectively. At the same time, the bank raised its sales and administrative expense forecasts for the company from this year to 2026, reflecting increased global market promotion activities. The report stated that the company's revenue and product revenue in the second quarter increased by 56% and 66% year-on-year, respectively, mainly from zanubrutinib.
Bocom Intl: Maintains 'buy' rating on Beigene (06160) with a target price of HKD 156.
Bocom Intl has raised the peak global sales forecast for Zejula from 4.4 billion to 5.2 billion.
Citigroup Maintains Buy on BeiGene, Raises Price Target to $288
BeiGene Analyst Ratings
Health Check: How Prudently Does BeiGene (NASDAQ:BGNE) Use Debt?