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Maxim Group Maintains a Buy Rating on BeiGene Ltd (BGNE)


In a report released today, Jason McCarthy from Maxim Group maintained a Buy rating on BeiGene Ltd (NASDAQ: BGNE), with a price target of $215. The company’s shares opened today at $129.05.

McCarthy noted:

“BeiGene presented updated clinical data from its ongoing P1 study of zanubrutinib (BTK inhibitor) in Waldenström’s Macroglobulinemia (WM) at the 10th Macroglobulinemia (IWWM). The drug continues to show durability at median 22.5 months follow-up, lending further support to potential for accelerated approval. NDA filing 1H19.”

According to TipRanks.com, McCarthy is a 5-star analyst with an average return of 10.2% and a 45.7% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, ContraVir Pharmaceuticals Inc, and Sonoma Pharmaceuticals Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for BeiGene Ltd with a $211 average price target.

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The company has a one-year high of $220.10 and a one-year low of $77.54. Currently, BeiGene Ltd has an average volume of 270.5K.

Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is negative on the stock.

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BeiGene Ltd. is a commercial-stage biopharmaceutical company, which engages in the development and commercialization of innovative molecularly targeted and immuno-oncology drugs for the treatment of cancer. It focuses on Zanubrutinib (BGB-3111), Tislelizumab (BGB-A317), and Pamiparib (BGB-290).