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Investing.com - Leerink Partners has reiterated an Outperform rating on BeOne Medicines (NASDAQ:ONC) with a price target of $334.00 following the company’s research and development day held Wednesday. The stock, which has delivered an impressive 75% return over the past year, currently trades at $244.32. According to InvestingPro data, analysts maintain a strong buy consensus with price targets ranging from $259 to $393.
BeOne showcased its extensive portfolio during the event, highlighting 30 assets currently in clinical development and more than 80 preclinical programs spanning various targets and modalities. The company’s research efforts are supported by over 1,200 scientists, with 20 near-term milestones expected in the next 18 months, including more than 10 proof-of-concept data readouts across its pipeline. With a robust gross profit margin of 85% and revenue growth of 51% in the last twelve months, BeOne demonstrates strong operational execution. InvestingPro analysis indicates the company operates with a moderate debt-to-equity ratio of 0.28.
The company provided updates on its hematology portfolio, including new data for sonrotoclax, its BCL-2 inhibitor, both as a monotherapy and in combination with Brukinsa for relapsed/refractory and first-line chronic lymphocytic leukemia (CLL). BeOne also presented Phase 1/2 data on sonrotoclax combined with dexamethasone in multiple myeloma, and preliminary results for BGB-16673, its BTK CDAC degrader, in B-cell malignancies.
BeOne delivered additional updates across its immuno-oncology and solid tumor portfolio, which included what Leerink described as "highly anticipated CDK4 data." The diverse pipeline spans numerous therapeutic approaches and disease targets.
Leerink’s $334.00 price target suggests significant upside potential for BeOne Medicines, which continues to advance its broad oncology-focused development programs across multiple cancer types and treatment modalities.
In other recent news, BeiGene , Ltd. reported its first-quarter 2025 financial results, revealing a mixed performance. The company achieved adjusted earnings per share of $1.22, which surpassed analyst expectations of -$0.43. However, its revenue of $1.12 billion fell short of the consensus forecast of $1.13 billion. Despite this, BeiGene’s total revenue saw a 49% year-over-year increase, largely driven by a 62% rise in global sales of BRUKINSA. The company also achieved GAAP profitability for the first time this quarter and maintained its full-year 2025 revenue guidance of $4.9-5.3 billion, aligning with analyst expectations. In another development, BeiGene completed its corporate re-domiciliation to Switzerland, becoming BeOne Medicines Ltd. This transition involved new executive employment agreements and an indemnification agreement for its officers and board members. Additionally, BeiGene’s shareholders recently approved several key resolutions at the Annual Meeting, including director elections and the appointment of Ernst & Young as independent auditors. The shareholders also authorized mandates for share issuance and repurchase, as well as a Connected Person Placing Authorization with Amgen Inc (NASDAQ:AMGN).
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