A financial research report from a major investment bank indicates that, considering the strong growth of BeOne Medicines (stock code: 06160) drug sales and improved cost control, its net profit forecast for the current year has been raised by 34% to $871 million. The earnings forecast for 2027 has also been increased by 38% to $1.2 billion.
The firm maintains its "outperform the industry" rating on the stock, while the H-share target price has been lifted by 6.4% to HK$266. The report highlights that the company's second-quarter financial results exceeded expectations, with total revenue growing 30% year-over-year, and product revenue up 29% during the same period.
On a GAAP basis, net profit surged 151% year-over-year to $237 million, slightly surpassing market consensus. This outperformance was attributed to the high growth of the core drug zanubrutinib and effective expense management. The company has also significantly raised its full-year guidance, with total revenue now projected at approximately $6.6 billion to $6.8 billion, and GAAP operating profit guidance increased to roughly $1.0 billion to $1.1 billion.
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