BeOne Medicines: Guidance Weighs But Multiple Catalysts In 2026

Brendan O'Boyle2.77K FollowersFollow5ShareSavePlay(12min)CommentsSummaryBeOne Medicines remains a strong buy despite a modest 2026 guidance miss, with a $410/share 12-month price target.Brukinsa's 49% YoY growth to $3.93B in 2025 and best-in-class CLL data underpin ONC’s market leadership and profitability inflection.Imminent catalysts include potential FDA approvals for Sonrotoclax (BCL2 inhibitor) and BTK-CDAC (BTK degrader), both poised to drive substantial upside in 2026.Recent clinical wins for Tevimbra and robust free cash flow ($942M in 2025) support ONC’s multi-year growth thesis. wildpixel/iStock via Getty Images On Thursday morning, BeOne Medicines (ONC) reported earnings and issued guidance for 2026. While Q4 earnings and revenue beat the Street's expectations, the outlook missed by a small margin, with the midpoint 2.3% below what analystsThis article was written byBrendan O'Boyle2.77K FollowersFollowBrendan, a Pennsylvanian by birth:-Completed a Ph.D. at Stanford University in the field of organic synthesis (2009). -Worked for a major pharmaceutical company (Merck, 2009-2013).-Worked in biotech including start-ups (Theravance/Aspira) prior to securing employment at Caltech.-First employee and co-founder of 1200 Pharma as it spun out of Caltech garnering major investment (into the 8 figures).-Remains an avid investor, focused on market trends and especially biotechnology stocks.Analyst’s Disclosure: I/we have a beneficial long position in the shares of ONC either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. The author is short put options on ONC and long the stock. This position may be traded according to market conditions. The author is also long shares of JAZZ.Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.