Movement Alert|BEIGENE LTD SPON ADS EACH REPR 13 ORD SHS Rises 5.48% in Pre-Market Trading, Q2 Earnings Significantly Beat Expectations as Multiple Institutions Raise Target Prices

Market Focus16:03

On August 7, BEIGENE LTD SPON ADS EACH REPR 13 ORD SHS rose 5.48% in pre-market trading, trading at $345.87/share, with turnover of $719,300.

On the news front, the company reported Q2 results that significantly exceeded market expectations. Global revenue reached $1.705 billion, up 30% year-over-year; GAAP net income was $237 million, up 151% YoY. First-half adjusted net income totaled $819.5 million, up 111% YoY. Core product Brukinsa generated $1.2 billion in global revenue, up 31% YoY. Management simultaneously raised full-year revenue guidance to RMB 44.9-46.2 billion from RMB 43.6-45.2 billion previously.

Following the earnings release, multiple institutions upgraded their target prices: CLSA raised its US-listed target to $522.5, Citi raised to $466, DBS Vickers raised its HK-listed target to HK$265, and CMBI maintained a Buy rating, citing improved profitability coupled with a rich R&D catalyst pipeline to support continued 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.)

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