Movement Alert|BeiGene Rises 3.48% in Regular Trading, Q1 Earnings Beat Expectations as Multiple Banks Raise Outlook

Market Focus05-21

On May 21, BeiGene rose 3.48% in regular trading, trading at HK$185.5 per share, with trading volume of approximately HK$220 million.

On the news front, the rally is driven by a combination of strong Q1 results and positive analyst sentiment. BeiGene reported Q1 global revenue of US$1.513 billion, up 35.5% year-over-year and exceeding the FactSet consensus estimate of US$1.44 billion. GAAP net profit reached US$227 million, with free cash flow of US$161 million. Management raised full-year revenue guidance by US$100 million to US$6.3-6.5 billion.

Additionally, the company's next-generation BCL2 inhibitor Sonrotoclax received FDA accelerated approval on May 13, becoming the first and only BCL2 inhibitor approved in the U.S. for relapsed or refractory mantle cell lymphoma. Citi maintained a Buy rating and raised its U.S. ADR target price from US$430 to US$453, while CICC maintained an Outperform rating with an H-share target of HK$250.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment