Leerink Partners analyst Andrew Berens has reiterated their bullish stance on ONC stock, giving a Buy rating today.
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Andrew Berens has given his Buy rating due to a combination of factors that highlight BeOne Medicines’ strong financial performance and promising future prospects. The company reported a significant increase in total product revenues, showcasing a robust quarterly growth. Key products such as Brukinsa, Tevimbra, and AMGN all exceeded sales expectations, indicating strong market demand and effective sales strategies.
Furthermore, BeOne Medicines is making notable progress in its pipeline, particularly with Brukinsa’s potential as a fixed duration treatment in first-line chronic lymphocytic leukemia (1L CLL). The company’s proactive steps in submitting data for review and the potential for early market availability in the US underscore its strategic positioning. Additionally, the upward revision of revenue and gross margin guidance reflects confidence in sustained financial growth, which supports the positive outlook and the Buy rating.
Berens covers the Healthcare sector, focusing on stocks such as Incyte, AstraZeneca, and Cogent Biosciences. According to TipRanks, Berens has an average return of 1.5% and a 42.39% success rate on recommended stocks.
In another report released today, CMB International Securities also maintained a Buy rating on the stock with a $359.47 price target.