UBS raises Beigene's target price to $437, maintaining a "Buy" rating

AASTOCKS
2025.11.07 03:47

According to a report by UBS, BeiGene (06160.HK) reported a 41% year-on-year increase in revenue for the third quarter to USD 1.41 billion, in line with the bank's and market expectations of USD 1.38 billion and USD 1.36 billion, respectively. Product sales rose 40.4% year-on-year to USD 1.4 billion. The company turned a profit year-on-year, recording a net profit of USD 125 million, which is roughly in line with the bank's expectation of USD 120 million but exceeds the market expectation of USD 72.1 million. The gross margin for the quarter increased by 3.1 percentage points year-on-year to 86.1%, while R&D expenses rose 5.5% year-on-year to USD 524 million, remaining roughly flat quarter-on-quarter. As of the end of the quarter, cash and cash equivalents amounted to USD 4.1 billion, primarily from USD 403 million in operating cash flow and payments from Royalty Pharma.

The report indicates that the company has raised the lower limit of its full-year revenue forecast by USD 100 million to USD 5.1 billion, while maintaining the upper limit forecast at USD 5.3 billion. The guidance for operating expenses has been lowered from USD 4.4 billion to USD 4.3 billion for the upper limit, while the lower limit remains at USD 4.1 billion. Based on the quarterly results, the bank has adjusted its target price for BeiGene ADR (ONC.US) from USD 431 to USD 437, maintaining a "Buy" rating

Source: AASTOCKS The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.