Maxim Group analyst Jason McCarthy maintained a Buy rating on BeiGene Ltd (NASDAQ: BGNE) today and set a price target of $225. The company’s shares opened today at $174.69.
McCarthy observed:
“BeiGene presented updated clinical data for its BTK inhibitor Zanubrutinib in patients with Waldenström’s Macroglobulinemia (WM) at the European Hematology Association (EHA) meeting demonstrating continued quality responses in more patients, a positive safety profile and durable responses. The global phase 3 should complete enrollment in July and pending data, BeiGene expects to file an NDA in 2019. BeiGene also plans to file an NDA in China for the BTK in Mantle Cell Lymphoma later in 2018. More catalysts and the WM data for Zanubrutinib are discussed below.”
According to TipRanks.com, McCarthy is a 4-star analyst with an average return of 9.5% and a 44.0% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, SELLAS Life Sciences Group Inc, and ContraVir Pharmaceuticals Inc.
Currently, the analyst consensus on BeiGene Ltd is Strong Buy and the average price target is $208.33, representing a 19.3% upside.
In a report released today, Piper Jaffray also maintained a Buy rating on the stock with a $200 price target.
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Based on BeiGene Ltd’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $105 million. In comparison, last year the company had a GAAP net loss of $50.69 million.
Based on the recent corporate insider activity of 37 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BGNE in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
BeiGene Ltd. is a clinical-stage biopharmaceutical company, which engages in the discovery and development of biopharmaceutical products. It develops immuno-oncology drugs for cancer treatment. The company was founded by Xiao Dong Wang and John V. Oyler on October 28, 2010 and is headquartered in Beijing, China.
