I'm LongbridgeAI, I can summarize articles.Citi released a research report, raising the target price for BeiGene's US stocks from $501.3 to $522.5 due to its second-quarter performance exceeding expectations and an upward adjustment of the 2026 guidance. The target price for Hong Kong stocks was raised from HKD 291.9 to HKD 321.7, maintaining an "outperform" rating. The bank also raised its sales and net profit forecasts for 2026 to 2028, optimistic about its global commercialization progress and the later-stage performance of its solid tumor pipeline
According to the Zhitong Finance APP, Citi has released a research report stating that it has raised the target price for Beigene (06160) from HKD 291.9 to HKD 321.7, and the target price for Beigene (ONC.US) in the US stock market from USD 501.3 to USD 522.5, maintaining an "outperform" rating.
Beigene's revenue in the second quarter increased by 29.6% year-on-year to USD 1.7 billion, and net profit rose by 151.3% year-on-year to USD 237 million, both exceeding market expectations, mainly driven by robust sales of the core product "Tislelizumab" and operational leverage effects. Global sales of Tislelizumab increased by 31.4% year-on-year to USD 1.3 billion, with sales in the US market rising by 30.5% year-on-year. The firm estimates that the market share of Tislelizumab expanded from 42% in the first quarter to 43.1% in the second quarter. Management has once again raised its full-year outlook for 2026, with revenue guidance increased from USD 6.3 billion to USD 6.5 billion to USD 6.6 billion to USD 6.8 billion, and operating income guidance raised from USD 750 million to USD 850 million to USD 1 billion to USD 1.1 billion.
The company has made further progress in the field of solid tumors, with the GPC3 x 4-1BB bispecific antibody BGB-B2033 completing its registration expansion study for second-line hepatocellular carcinoma in China and planning to initiate a global phase III clinical trial for second-line hepatocellular carcinoma in the second half of the year. Citi indicated that it remains optimistic about Beigene's global commercialization progress and the entry of new solid tumor pipelines into late-stage development. In response to performance and guidance adjustments, it has raised its sales forecasts for 2026 to 2028 by 4%, 3.3%, and 3.2%, respectively, and net profit forecasts by 23.5%, 12.5%, and 7.3%