Leerink Partners analyst Andrew Berens has reiterated their bullish stance on ONC stock, giving a Buy rating on February 28.
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Andrew Berens has given his Buy rating due to a combination of factors including BeiGene’s strong financial performance and promising future outlook. The company reported significant year-over-year revenue growth, with global revenues reaching $1.1 billion for the fourth quarter and $3.8 billion for the full fiscal year 2024. This growth was driven by impressive sales of Brukinsa, which exceeded expectations by 13% in the fourth quarter, and marked a 100% year-over-year increase.
Additionally, the company’s product gross margin improved to 85.6% in the fourth quarter, reflecting a favorable sales mix and cost efficiencies. BeiGene’s guidance for fiscal year 2025 also indicates continued growth, with projected revenues of $4.9 to $5.3 billion, surpassing consensus estimates. The expectation of positive operating income and cash flow further supports the optimistic outlook. Consequently, Andrew Berens has adjusted the price target for BeiGene’s stock to $310, reinforcing the Buy recommendation.
Berens covers the Healthcare sector, focusing on stocks such as AstraZeneca, Incyte, and Agios Pharma. According to TipRanks, Berens has an average return of -7.4% and a 35.67% success rate on recommended stocks.
In another report released on February 28, Morgan Stanley also maintained a Buy rating on the stock with a $317.00 price target.