Switzerland-based cancer treatment developer BeOne Medicines is having a good week. Its stock has climbed nearly 11% so far over the last three sessions. Several factors may be boosting the biotech stock.
The IBD 50 Growth Stocks To Watch pick for Wednesday may be rising in sympathy with Dow Jones component Johnson & Johnson. The pharmaceutical maker topped second-quarter earnings and sales estimates, and raised its full-year profit and revenue guidance, both of which were above analysts' forecasts.
BeOne Medicines stock received a vote of support Wednesday after RBC Capital raised its price target to $349 from $311 and maintained its outperform rating on the biotech. Shares are currently trading around the 278 level.
Meanwhile, President Donald Trump's drug import tariffs loom, with August the new target deadline. Trump now says he will start with low tariffs and then make them very high. Earlier in the month, he threatened up to 200% tariffs on drugs imported into the U.S.
BeOne Medicines, formerly known as BeiGene, develops cancer drugs with a focus on affordability and unmet needs. It has three approved medicines.
Its leukemia drug, Brukinsa, is approved in 75 markets worldwide. Tevembra, an esophageal and gastrointestinal cancer treatment, is approved in 46 global markets. It also makes pamiparib, another form of cancer treatment.
It has programs developing treatments for blood, lung and breast cancer, and immunology. It works with cancer communities around the world, including in the U.S., Europe and Asia.
The myBeOne Support program, available in the U.S. and Canada, provides support and services for patients such as financial assistance, counseling services and transportation to appointments.
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Cancer Treatment Stock Nears A Buy Point
The IBD 50 Growth Stocks pick is nearing the 287.77 buy point of an early-stage consolidation pattern, according to MarketSurge pattern recognition.
Shares found support and bounced off their 10-week moving average. The cancer treatment stock has gained around 50% so far this year and holds an 89 IBD Relative Strength Rating.
Its IBD Accumulation/Distribution Rating of B indicates moderate institutional buying over the last 13 weeks.
BeOne Medicines Eyes Huge Profit Growth
Its first-quarter revenue grew 49%, primarily driven by growth in Brukinsa sales in the U.S. and Europe. The company showed a profit of $1.22 per share, and analysts expect profitability to continue.
The drugmaker gave full-year 2025 revenue guidance of $4.9 billion to $5.3 billion.
BeOne Medicines produced losses through 2024. Full-year 2025 analyst estimates call for earnings per share of $1.55 then a whopping $5.63 in 2026, or 264% growth.
The company is expected to report its second quarter results on Aug. 6.
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