NVS - JP Morgan's Bullish View On This Chinese Biotech Says Pullback Creates Entry Point | Benzinga
JP Morgan assumed coverage on BeiGene Ltd (NASDAQ:BGNE), highlighting the potential upside and emphasizing that the recent pullback in BeiGene’s valuation presents an opportune moment for investors.
The Chinese biotech’s approved products provide substantial valuation support.
The analyst sees the recent market downturn, which resulted in a 45% decrease in BeiGene shares compared to the Nasdaq Biotechnology Index (+1%), as a chance for investors to engage in potential upside.
The optimism stems from the promising outlook of BeiGene’s pipeline and the strong performance of its flagship blood cancer drug, Brukinsa, which may exceed expectations.
JP Morgan has moved from a Not Rated ...