On August 7, BEIGENE LTD SPON ADS EACH REPR 13 ORD SHS rose 5.16% overnight, trading at $346.83/share, with turnover of $4.8164 million. The rally was driven by the company's Q2 earnings significantly exceeding market expectations, coupled with multiple broker upgrades.
The company reported Q2 global revenue of $1.705 billion, up 30% year-over-year, with GAAP net income of $237 million, surging 151%. Core product Brukinsa generated $1.2 billion in global revenue, up 31%. For the first half, adjusted net income reached $819.5 million, up 111%. Management simultaneously raised full-year revenue guidance to RMB 44.9–46.2 billion from the prior range of RMB 43.6–45.2 billion, citing Brukinsa's leading position in the US and continued expansion in Europe.
Following the results, CLSA raised its US ADR target price to $522.5, Citi raised to $466, while Dahua and CICC raised Hong Kong-listed share targets to HK$265 and HK$266 respectively. CMB International maintained a Buy rating, noting strong revenue growth, improving profitability, and rich R&D catalysts supporting further valuation upside.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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