BeiGene price target lowered to $212 from $224.13 at BofA

BofA lowered the firm’s price target on BeiGene to $212 from $224.13 and keeps a Neutral rating on the shares. Beigene announced that Tislelizumab has been approved by the European Commission as monotherapy for the treatment of adult patients with unresectable, locally advanced or metastatic esophageal squamous cell carcinoma, or ESCC, after prior platinum-based chemotherapy, the analyst noted. While positive on Beigene’s intact commercialization rights on Tislelizumab given the pressure from the China market, the firm has concerns on its commercialization speed and capability in developed regions, the analyst tells investors.