BeOne Medicines, the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Jill Wu from CMB International Securities maintained a Buy rating on the stock and has a $359.47 price target.
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Jill Wu has given her Buy rating due to a combination of factors surrounding BeOne Medicines’ promising developments and strategic positioning. The company’s CDK4 inhibitor, BGB-43395, has shown a favorable safety profile with reduced neutropenia compared to other similar treatments, indicating a potential competitive advantage in the market. Although the efficacy data is still maturing, early indicators such as the disease control rate suggest promising outcomes, and management is confident in advancing to Phase 3 trials.
Additionally, BeOne’s robust hematology-oncology portfolio, including zanubrutinib and sonrotoclax, positions the company well in the market. Zanubrutinib is leading in new patient prescriptions, while sonrotoclax offers significant differentiation from existing treatments. With multiple assets expected to reach proof of concept by the second half of 2025 and the company on track to achieve operating income breakeven by FY25, Jill Wu maintains a positive outlook with a target price of $359.47.
In another report released on June 27, Morgan Stanley also maintained a Buy rating on the stock with a $330.00 price target.