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Investing.com - Citizens JMP has reiterated its Market Outperform rating on BeOne Medicines (NASDAQ:ONC) with a price target of $348.00. The stock, currently trading near its 52-week high of $347.17, has delivered an impressive 79% return over the past year. According to InvestingPro data, analyst targets for the $38.12B market cap company range from $250 to $563.
The research firm identified two key value drivers for the biopharmaceutical company in its analysis.
The first value driver highlighted by Citizens JMP is the upcoming "Sonrotoclax Phase 2 r/r MCL data" expected in the second half of 2025.
The second key catalyst mentioned is the plan to "BTK CDAC Initiate Phase 3 versus pirtobrutinib" also scheduled for the second half of 2025.
The firm’s maintained rating and price target reflect its continued confidence in BeOne Medicines’ clinical development pipeline and growth prospects.
In other recent news, BeOne Medicines AG announced positive results from a Phase 1/2 study of sonrotoclax in patients with relapsed/refractory mantle cell lymphoma. The study met its primary endpoint, demonstrating an overall response rate as assessed by an independent review committee. Additionally, BeOne Medicines secured a $950 million royalty deal with Royalty Pharma, selling its royalty rights on worldwide sales of Amgen’s IMDELLTRA®, excluding China. The agreement includes an upfront payment of $885 million, with the potential for an additional $65 million. Meanwhile, BeOne Medicines received European Commission approval for TEVIMBRA in treating resectable non-small cell lung cancer, showing significant overall survival benefits in a Phase 3 trial.
Oncolytics Biotech Inc. held its Annual General Meeting, with shareholders electing all eight director nominees. The company also announced plans to voluntarily delist from the Toronto Stock Exchange, focusing on its Nasdaq listing. This decision was made to reduce costs associated with maintaining a dual listing, aligning with the company’s increasing focus on the U.S. market.
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