BEIGENE (06160.HK) -0.050 (-0.050%) Short selling $7.86M; Ratio 6.359% 's 1Q24 results beat expectations, CCBI issued a research report saying. The Company's net loss amounted to US$251 million during the period, representing an improvement from a loss of US$348 million in the same period of 2023.
Excluding the share-based compensation costs and other income, the Company's 1Q24 net loss was US$164 million, still better than that in the same period of 2023.
CCBI maintained its 2024 adjusted net loss forecast at US$685 million for BEIGENE, but raised its 2025 adjusted net loss forecast by +2% to a loss of US$449 million. CCBI also lowered its 2026 adjusted net profit forecast to US$801 million from US$1.3 billion.
CCBI chopped its target price for the Group to $148 from $152 to reflect the lowered earnings forecast.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-05-10 16:25.)
