On August 7, BEIGENE LTD SPON ADS EACH REPR 13 ORD SHS rose 5.49% in regular trading, trading at $347.675/share, with turnover of $26.0053 million.

On the news front, the company reported Q2 global revenue of $1.705 billion, up 30% year-over-year, with GAAP net income of $237 million, surging 151% YoY. First-half adjusted net income reached $819.5 million, up 111% YoY. The company simultaneously raised its full-year revenue guidance to RMB 44.9–46.2 billion. Core product Brukinsa generated $1.2 billion in global revenue, up 31% YoY.

Following the earnings release, multiple institutions upgraded their outlook. CLSA raised its US ADR target price to $522.5, Citi raised to $466, DBS Vickers raised its HK target to HK$265, and CMBI maintained a Buy rating, noting improved profitability coupled with a rich R&D catalyst pipeline will continue to support valuation upside.

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