Piper Jaffray analyst Tyler Van lowered his price target for BeiGene to $170 following the company’s Q4 results. Surprisingly, sales of Abraxane, Revlimid, and Vidaza in China were flat in Q4 quarter-over-quarter, Van Buren tells investors in a research note. This was the first quarter since acquisition where the products have not experienced significant growth, says the analyst. Van Buren reduced his price target to reflect BeiGene’s increase in operating spend associated with the three potential product launches but keeps an Overweight rating on the shares.
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