Truist Securities Starts BeOne Medicines (ONC) at Buy

Truist Securities analyst Greg Renza initiates coverage on BeOne Medicines (NASDAQ: ONC) with a Buy rating and a price target of $400.00.

The analyst comments "ONC has become a leader in CLL with Brukinsa now the top BTKi in the U.S., on track toward our projected ~$7.1B peak sales by 2034. Our current valuation is anchored by Brukinsa's sustained growth and ONC's strong financial foundation, alongside near-term revenue expansion potential from next-wave CLL assets - sonrotoclax and BGB-16673/BTK degrader. Beyond hematology, we note that ONC's solid tumor portfolio (CDK4, B7-H4 ADC, etc.) offers high-quality optionality and upside potential to our valuation. Collectively, we view ONC's robust R&D engine and execution as central to its rise as a global oncology powerhouse."

For an analyst ratings summary and ratings history on BeOne Medicines click here. For more ratings news on BeOne Medicines click here.

Shares of BeOne Medicines closed at $347.72 yesterday.

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