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Investing.com - RBC Capital has reiterated an Outperform rating on BeOne Medicines (NASDAQ:ONC) with a price target of $311.00 following the company’s R&D Day focused on its hematology and solid tumor portfolio.
The research firm highlighted the company’s CDK4i program, noting that while updates contained limited data that may need time to mature, BeOne has demonstrated enough evidence to suggest a differentiated safety profile with efficacy that could reach competitive levels.
RBC Capital expressed confidence in Brukinsa’s growth potential, projecting sales to reach $3.7 billion in 2025 and grow to $6.7 billion by 2034.
The firm also pointed to the near-term potential of sonro and ’673 to drive further chronic lymphocytic leukemia (CLL) growth as key factors supporting its positive outlook.
RBC Capital believes BeOne’s pipeline provides confidence that the company can successfully evolve into a diversified oncology powerhouse over the next decade.
In other recent news, BeOne Medicines reported mixed first-quarter 2025 results, with earnings surpassing expectations but revenue slightly missing the mark. The company posted an adjusted earnings per share of $1.22, outperforming the analyst estimate of -$0.43. However, revenue came in at $1.12 billion, just shy of the anticipated $1.13 billion. Despite this, total revenue grew by 49% year-over-year, bolstered by a 62% increase in global sales of BRUKINSA, reaching $792 million. BeOne Medicines achieved GAAP profitability for the first time this quarter and maintained its full-year 2025 revenue guidance of $4.9-5.3 billion. Additionally, BeOne completed its corporate re-domiciliation to Switzerland, now operating as BeOne Medicines Ltd. This strategic move included new executive employment agreements and an indemnification agreement for its officers and board members. Furthermore, during its recent Annual Meeting of Shareholders, BeOne’s shareholders approved several key resolutions, including director elections and auditor ratifications. Lastly, Leerink Partners reiterated its Outperform rating on BeOne Medicines, highlighting the company’s extensive pipeline and upcoming milestones.
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