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Investing.com - Jefferies raised its price target on BeOne Medicines (NASDAQ:ONC) to $420.00 from $398.00 on Monday, maintaining a Buy rating on the stock. The new target represents potential upside from the current price of $378.70, with the stock already trading near its 52-week high of $381.50 and showing remarkable YTD returns of 98%. According to InvestingPro data, the company appears slightly overvalued compared to its calculated Fair Value.
The upgrade comes as BeOne Medicines positions its chronic lymphocytic leukemia (CLL) franchise to capture the full spectrum of the CLL market, according to Jefferies.
The firm highlighted that BeOne’s Brukinsa is the only BTK inhibitor demonstrating superiority over ibrutinib in head-to-head trials, with upcoming six-year data at ASH showing 74% milestone progression-free survival—the best among BTK inhibitors. Management reports Brukinsa already captures approximately 50% of new patient share. This clinical success is reflected in BeOne’s strong financial performance, with revenue growth of 50.43% and a market capitalization of $40.48 billion. InvestingPro analysis reveals 15+ additional insights, including the company’s financial health score rated as "GREAT."
BeOne’s BCL2 inhibitor Sonrotoclax, being developed with Brukinsa as a fixed-duration regimen, differentiates itself by achieving MRD negativity within six months and delivering deeper clinical responses. A head-to-head trial versus acalabrutinib plus venetoclax combination will begin in the first half of 2026.
The company’s BTK degrader, designed to address all resistance mutations in relapsed/refractory settings, is in a head-to-head trial against non-covalent BTK inhibitor pirtobrutinib, with management expressing confidence it will compare favorably.
In other recent news, BeOne Medicines reported significantly higher-than-expected earnings for Q3 2025. The company achieved non-GAAP diluted earnings per share of $2.65, surpassing the forecasted $0.80. Additionally, BeOne Medicines exceeded revenue expectations, reporting $1.41 billion compared to the anticipated $1.37 billion. These financial results highlight the company’s strong performance in the recent quarter. Furthermore, BeOne Medicines announced positive top-line results from a Phase 3 trial for its HER2-targeted bispecific antibody, ZIIHERA, in combination with chemotherapy for gastroesophageal cancer. The HERIZON-GEA-01 trial demonstrated clinically meaningful and statistically significant improvements in progression-free survival. These developments reflect the company’s ongoing advancements in oncology treatments.
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