JMP Securities analyst Reni Benjamin has reiterated their bullish stance on ONC stock, giving a Buy rating yesterday.
Reni Benjamin has given his Buy rating due to a combination of factors that highlight BeiGene’s strong market position and growth potential. The company recently reported a quarter that exceeded expectations, with its drug Brukinsa surpassing competitors in the U.S. market and projected to become the leading BTK inhibitor globally by 2025. Additionally, the recent U.S. approval of Tevimbra for treating esophageal squamous cell carcinoma is expected to boost revenue significantly, aligning with the company’s guidance.
BeiGene’s robust pipeline and efficient clinical development processes further support the Buy rating. The company has a large and capable research team, which enables it to accelerate clinical trials and potentially extend intellectual property protection. This agility, combined with a strong cash position and the absence of immediate patent risks, positions BeiGene as an attractive investment, especially amid broader market selloffs where investors might seek stability in the healthcare sector.
According to TipRanks, Benjamin is an analyst with an average return of -15.1% and a 29.61% success rate. Benjamin covers the Healthcare sector, focusing on stocks such as Blueprint Medicines, BeiGene, and Incyte.
In another report released yesterday, Bank of America Securities also upgraded the stock to a Buy with a $320.00 price target.