BeOne Medicines price target raised to $349 from $311 at RBC Capital

RBC Capital raised the firm’s price target on BeOne Medicines (ONC) to $349 from $311 and keeps an Outperform rating on the shares. The firm is refreshing its views on the stock following key opinion leader checks, additional diligence, and recent conversations with the management, the analyst tells investors in a research note. Brukinsa will remain a leader in the CLL – chronic lymphocytic leukemia – market, while next-gen/life-cycle plays with sonrotoclax and ‘673 both create a market expansion narrative and preempt questions about a potential patent cliff or IRA impact for Brukinsa, the firm added.