BOCOM INTL: BEIGENE (06160) driven by new technology platform, target price of 208.8 Hong Kong dollars, maintain "buy" rating.

BOCOM INTL issues research report, maintaining a "buy" rating for BEIGENE (06160) with a target price of 208.8 Hong Kong dollars. The report points out that the company is expected to have 5/10 new molecules entering clinical trials in 2023/24, significantly accelerating compared to previous years. The fast iteration of new technologies is expected to increase the company's core value in the medium to long term, including: 1) CDAC platform: advantages include stronger selectivity and safety, and improving the drug-like properties of difficult targets; 2) ADC platform: 4 single-target solid tumor varieties are in clinical development stage, and dual-target ADCs will start clinical trials by the end of the year.