CICC Raises BEONE MEDICINES TP to HKD266; 2Q Results Beat
I'm LongbridgeAI, I can summarize articles.CICC raised BEONE MEDICINES'target price to HKD266 and maintained an 'Outperform' rating after the company's Q2 results beat expectations. Revenue rose 30% YoY, driven by zanubrutinib growth and expense control, while GAAP net profit surged 151%. CICC upgraded full-year earnings forecasts by 34% for this year and 38% for 2027, citing strong product performance and effective cost management.
CICC published a research report stating that BEONE MEDICINES (06160.HK) +4.500 (+2.256%) Short selling $144.52M; Ratio 12.134% 's second-quarter results beat expectations, with revenue rising 30% YoY, including a 29% increase in product revenue. GAAP net profit increased 151% YoY to USD237 million, while sales revenue slightly exceeded forecasts. The broker noted that net profit during the period surpassed expectations mainly due to strong growth of zanubrutinib and effective expense control.
The report mentioned that BEONE MEDICINES substantially raised its full-year guidance, with total revenue guidance lifted to between USD6.6 billion and USD6.8 billion, while GAAP operating profit guidance was increased to between USD1 billion and USD1.1 billion.
The broker said that, considering the strong growth of zanubrutinib and effective expense control, it raised its earnings forecast for this year by 34% to USD871 million and lifted its 2027 earnings forecast by 38% to USD1.2 billion. The broker maintained its "Outperform" rating and raised the H-share TP by 6.4% to HKD266. (sl/da)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-08-06 16:25.)