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Fly News Breaks for September 9, 2019
BGNE
Sep 9, 2019 | 05:28 EDT
Piper Jaffray analyst Tyler Van Buren says BeiGene management provided a detailed presentation which successfully rebutted the claims made in a short report published last week. The claims being made by the short sellers appear unfounded and management's explanations "were clear and entirely reasonable," Van Buren tells investors in a research note. He points out that BeiGene's Celgene (CELG) product sales are audited by an independent third party and that the * purchase of companies is the typical way to obtain drug distribution licenses in China. The analyst, who continues to have a high level of confidence in BeiGene's management team, keeps an Overweight rating on the shares with a $180 price target.
News For BGNE From the Last 2 Days
BGNE
Mar 26, 2024 | 20:57 EDT
Bernstein analyst Rebecca Liang lowered the firm's price target on BeiGene to $161 from $196 and keeps a Market Perform rating on the shares. The firm is updating its model to reflect the company's latest earnings results, changes in pipeline assets, and commercial updates from its competition, the analyst tells investors in a research note. Competition remains fierce in the Zanubrutinib space with bendamustine and mosunetuzumab being another two approved therapies with comparable or better overall response rate and complete response, the firm notes.