BeiGene price target raised to $235 from $200 at JPMorgan

JPMorgan analyst Jessica Fye raised the firm’s price target on BeiGene (BGNE) to $235 from $200 and keeps an Overweight rating on the shares. The firm increased Brukinsa revenue estimate to $672M for Q3 after Iqvia prescription data suggested continuing momentum for BeiGene’s lead product in the U.S. The analyst sees several near-term opportunities to drive further investor interest in the shares and sees the company’s approved products providing “significant valuation support.”