BeiGene, Ltd. (BGNE) PT Raised to $207 at Bernstein SocGen Group

Bernstein SocGen Group analyst Rebecca Liang raised the price target on BeiGene, Ltd. (NASDAQ: BGNE) to $207.00 while maintaining a Market Perform rating.

The analyst said: "In this model update of BeiGene post-earnings, we present a new, integrated B-cell malignancies market model covering all four classes of treatment (chemo and R-CHOP, BTKi, Bcl-2, and BTK degrader) and renew our projections for the three important B-cell malignancies drugs of the company (zanubrutinib, sonrotoclax, and BGB-16673).We maintain Market-Perform but increase our Price Target to US$207 per share.

Patent cliff may result in Zanu share loss after 2032, but BGB-16673 (BTK degrader) and sonrotoclax (Bcl-2) are expected to add ~US$2Bn sales for BeiGene (PoS adjusted).Although Gx competitors may disrupt the existing BTKi market (CLL/SLL, MCL and MZL patients) after 2032, the rest $11Bn of B-cell lymphoma market (DLBCL and FL patients, currently untapped by BTK inhibitors) presents a significant opportunity for BeiGene’s BTK degrader and Bcl-2 drugto take share. Together, we expect BeiGene to still hold over US$5 Bn sales (>30% share) in B-cell malignancies market post 2032 patent cliff, after peaking at US$5.7 Bn in 2031."

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