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Search resuls for: "BeiGene"


7 mentions found


Deutsche Bank initiates Flywire as buy Deutsche said it sees an attractive entry point for the payments company. " "We are initiating coverage of Sprinklr with a Buy rating and a $16 price target. UBS upgrades UPS to buy from neutral UBS said in its upgrade of the stock that it sees "attractive EPS growth." Deutsche Bank reiterates Disney as buy Deutsche said it's sticking with its buy rating on Disney heading into earnings on Wednesday. "We are downgrading TSLA stock rating to 3/Neutral from 2/Outperform as we see corporate governance concerns aggravating already tough financial conditions in 2024."
Persons: Rosenblatt, Sprinklr, Bernstein, Tesla, underperform Bernstein, Morgan Stanley, Apple, it's bullish, Daiwa, Piper Sandler downgrades Chegg, Piper, Myers, Redburn, Northcoast, JPMorgan Organizations: Deutsche Bank, Li Auto, Deutsche, Education, Healthcare, UBS, Disney, OI, company's, Tesla, JPMorgan, Broadcom, Bank of America, Tyson Foods, underperform Bank of America, Citi, UFC, WWE, Global Locations: McDonald's, PLTR
Investors should keep an eye on biotech company BeiGene as it scales up its global revenue streams, according to Jefferies. Analyst Kelly Shi initiated coverage of the stock with a buy rating and assigned a price target of $287, suggesting shares stand to gain 49.2% in the next 12 months. The stock has lost 12% so far this year but has had a more uplifting quarter with gains of about 8%. According to the analyst, BeiGene's product pipeline could expand beyond oncology, as it currently includes early autoimmune candidates. BeiGene's tislelizumab drug is another major growth driver for the company, Shi said, highlighting the drug's position as China's top-selling PD-1 drug with about 40% market share.
Persons: Kelly Shi, Shi, BeiGene, BGNE, Amgen, — CNBC's Michael Bloom Organizations: Jefferies, pharma, Novartis Locations: Cambridge , Massachusetts, Beijing, China, BeiGene
Here are Thursday's biggest calls on Wall Street: Citi reiterates Nvidia as buy Citi said it's bullish heading into Nvidia earnings next week. Citi reiterates Apple as buy Citi said it's bullish heading into the company's iPhone 15 launch. Oppenheimer reiterates Nvidia as outperform Oppenheimer said it's bullish on shares of Nvidia heading into earnings next week. Bank of America reiterates TJX Companies as buy Bank of America said the stock is "well positioned for continued market share gains." Bank of America reiterates Wells Fargo as buy Bank of America said Wells Fargo has one of the most attractive risk/rewards of the big banks.
Persons: it's, Charles Schwab, Jefferies, KeyBanc, Key, Oppenheimer, Rosenblatt, Evercore, Bill Ready, Meta, SoFi, Wells, Wells Fargo Organizations: Citi, Nvidia, NVIDIA, JPMorgan, Deutsche Bank, Deutsche, Novartis, Amgen, Apple, Arista, Networking, BMO, Green, Bank of America, Adobe, of America Adobe, TJX Companies, Enphase Energy Locations: Mexico, Sunrun
HONG KONG, March 13 (Reuters) - Over a dozen Hong Kong-listed companies have stepped forward to say they had little or no exposure to Silicon Valley Bank, the failed U.S. lender which has roiled investors and markets globally. Startup-focussed SVB Financial Group (SIVB.O), which did business as Silicon Valley Bank, collapsed on Friday in the largest bank failure since the 2008 financial crisis. China-based drug developer Beigene Ltd (6160.HK) said it has uninsured cash deposits held at the bank representing 3.9% of its last reported total cash and cash equivalents. Six Hong Kong-listed companies, mostly Chinese pharmaceutical firms also over the weekend disclosed cash deposits at Silicon Valley Bank. Broncus Holding Corporation (2216.HK) said it held $11.8 million at SVB, representing around 6.5% of its total cash.
Hong Kong CNN —The collapse of Silicon Valley Bank (SVB), which courted Chinese start-ups, has caused widespread concern in China, where a string of founders and companies rushed to appease investors by saying their exposure was insignificant or nonexistent. “As China’s first technology bank, SPD Silicon Valley Bank is committed to serving Chinese science and technology companies, and has always had sound operations in accordance with Chinese laws and regulations.”It’s unclear what will happen to SVB’s ownership of the joint venture. BeiGene, one of China’s largest cancer-focused drug companies, said Monday it had more than $175 million uninsured cash deposits at SVB, which represents approximately 3.9% of its cash, cash equivalents and short-term investments. Zai Lab, a pharmaceutical firm, announced that its cash deposits at SVB were “immaterial” at about $23 million. “We never opened an account with Silicon Valley Bank, nor placed a deposit,” he said late Sunday on his Weibo account.
Baker Bros. Advisors, a secretive hedge fund that counts Yale University's endowment and the Tisch family as its clients, held onto a slew of its favorite biotech names last quarter. Its portfolio has grown to be the 15th-biggest among U.S. hedge funds through 2022, according to FactSet, despite its lack of notoriety. The hedge fund specializes in biotech investing as the founders, now in their 50s, take advantage of their educational background in immunology, riding on the explosive growth in the sector over the past decade. Meanwhile, Yale's charitable foundation has invested in 667 LP — a Baker Bros. vehicle — since at least 2009. The hedge fund slightly increased its exposure to Madrigal Pharmaceuticals and Rhythm Pharmaceuticals last quarter, the filing showed.
Morgan Stanley views biotechnology as an area of the market that abounds with opportunity heading into 2023. It's been a painful year for the investors — and once high-flying growth stocks — as the Federal Reserve's rate hikes lead to fears of a slowing economy. Morgan Stanley also expects mergers and acquisitions activity to pick up in 2023 given the piles of cash some companies have on hand. Here are some of the stocks Morgan Stanley recommends heading into the new year: Harrison named BeiGene among the bank's biotech stock picks heading into the new year. "We expect 2023 to finally be the year that commercial upside can drive BMRN higher," Harrison wrote.
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