BeiGene should be owned, especially after latest pullback, says Piper Jaffray

After hosting a dinner with management, Piper Jaffray analyst Tyler Van Buren continues to recommend that investors own BeiGene shares, “especially after this latest pullback.” Management noted that an “exhaustive analysis” of all of the data for approved BTK inhibitors suggests that zanubrutinib is likely to demonstrate statistically superior efficacy and improved, acalabrutinib-like safety and tolerability in the ongoing Phase III head-to-head Waldenstrom’s trial, Van Buren tells investors in a research note. Further, the analyst is “unconcerned” by the recent Revlimid generic “noise” and continues to have confidence in the Chinese product launches later this year. “Significant value” can be created by BeiGene launching zanubrutinib and tislelizumab in China and the U.S. while partnering in other territories, says the analyst. He keeps an Overweight rating on BeiGene with a $170 price target.

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