Analyst Reni Benjamin of JMP Securities reiterated a Buy rating on BeiGene (ONC – Research Report), boosting the price target to $348.00.
Reni Benjamin has given his Buy rating due to a combination of factors that highlight BeiGene’s strong financial performance and strategic positioning in the biotech industry. The company’s recent financial results exceeded expectations, with significant revenue generated from Brukinsa sales, particularly in the U.S. market. This robust performance supports the company’s guidance for 2025 revenues to be significantly higher than previous estimates, indicating strong growth potential.
Moreover, BeiGene’s substantial cash reserves and rapid clinical development capabilities further bolster its investment appeal. The company’s ability to quickly advance its pipeline, including promising candidates like BTK CDAC and other early-stage assets, positions it well for future success. These factors, combined with a favorable risk-reward profile, underpin Benjamin’s confidence in BeiGene as a compelling investment opportunity.
In another report released yesterday, TD Cowen also maintained a Buy rating on the stock with a $334.00 price target.
Based on the recent corporate insider activity of 54 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ONC in relation to earlier this year.