BeOne Medicines Shares Trading At Discount To Fair Value, RBC Says

MT Newswires Live00:41

BeOne Medicines (ONC) shares are trading at a discount to the company's fair value, and investors are overindexing on risks to the Brukinsa franchise, RBC said in a note.

The brokerage said the investors are "not ascribing credit to the solid tumor work - and we would be buyers into 2H26."

RBC said it likes the company's strong commercial performance with beats across the board on revenue and EPS as evidence of sustainable heme-onc leadership.

The company also said Brukinsa continues to grow, with additional label expansion opportunities supporting long-term picture, adding that it looked very impressive, with $1.25 billion in revenue.

RBC said that compared with its estimate of $1.23 billion and the Street estimate of $1.20 billion, driven by new patients, improving duration of therapy, and better adherence.

RBC maintained a an outperform rating and lowered price target to $450 from $451.

Price: 326.88, Change: -0.65, Percent Change: -0.20

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