BeiGene (ONC, Financial) saw its stock rise nearly 5% in pre-market trading, reaching $242.25. This increase follows a report from Nomura, which maintained a "buy" rating for the company. Nomura's analysis, based on DFC valuation, raised the target price by 7.8%, from HKD 174.91 to HKD 188.53. This suggests a potential 32% upside for the stock.
Nomura anticipates strong performance from BeiGene in the fourth quarter of 2024. The firm also expects BeiGene to achieve operational breakeven as guided by management in 2025.