Bernstein upgraded BeOne Medicines (ONC) to Outperform from Market Perform with a price target of $414, up from $362. The firm thinks BeOne is undervalued and that its pipeline “is not recognized by the market.” Sonrotoclax as “potential best-in-class status,” de-risking BeOne’s hematology sales, which could hit $11B in 2033, the analyst tells investors in a research note.
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