Analysts Set BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) Price Target at $390.92

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) has received an average recommendation of “Moderate Buy” from the fifteen research firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $394.00.

Several research firms recently commented on ONC. Wall Street Zen raised shares of BeOne Medicines from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 18th. Zacks Research lowered shares of BeOne Medicines from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 3rd. Royal Bank Of Canada lifted their price target on shares of BeOne Medicines from $436.00 to $451.00 and gave the company an “outperform” rating in a research note on Tuesday, July 7th. Barclays lowered their price target on BeOne Medicines from $409.00 to $403.00 and set an “overweight” rating for the company in a report on Tuesday, July 14th. Finally, JPMorgan Chase & Co. raised their price objective on BeOne Medicines from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Thursday.

BeOne Medicines Stock Performance

Shares of BeOne Medicines stock opened at $325.90 on Friday. The stock’s fifty day moving average is $291.44 and its two-hundred day moving average is $309.43. The company has a market capitalization of $35.76 billion, a PE ratio of 72.91 and a beta of 0.49. The company has a quick ratio of 3.27, a current ratio of 3.64 and a debt-to-equity ratio of 0.20. BeOne Medicines has a 52 week low of $253.95 and a 52 week high of $385.22.

BeOne Medicines (NASDAQ:ONC) last released its earnings results on Wednesday, April 1st. The company reported $0.25 earnings per share for the quarter. The business had revenue of $1.51 billion for the quarter. BeOne Medicines had a return on equity of 12.06% and a net margin of 8.94%. As a group, analysts expect that BeOne Medicines will post 5.93 earnings per share for the current year.

More BeOne Medicines News

Here are the key news stories impacting BeOne Medicines this week:

• Positive Sentiment: JPMorgan raised its price target on BeOne Medicines to $425 from $415 and reiterated an overweight rating, signaling additional upside from recent trading levels.
• Positive Sentiment: BeOne announced plans to invest $300 million to expand its New Jersey manufacturing campus, reinforcing long-term U.S. growth, supply-chain capacity, and commitment to oncology production. Article: BeOne Medicines To Invest $300M In New Jersey Manufacturing Expansion
• Positive Sentiment: Another report described the U.S. manufacturing expansion as part of a broader investment plan of more than $1 billion, which may be viewed favorably by investors looking for scale and operational resilience.

Insider Transactions at BeOne Medicines

In related news, COO Xiaobin Wu sold 1,484 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $269.37, for a total value of $399,745.08. Following the completion of the sale, the chief operating officer directly owned 40 shares of the company’s stock, valued at $10,774.80. This represents a 97.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO John Oyler sold 145,861 shares of the firm’s stock in a transaction dated Tuesday, July 14th. The shares were sold at an average price of $305.95, for a total transaction of $44,626,172.95. Following the transaction, the chief executive officer directly owned 8,122 shares in the company, valued at $2,484,925.90. This trade represents a 94.73% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 233,647 shares of company stock valued at $70,335,553. 6.19% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BeOne Medicines

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE bought a new position in BeOne Medicines in the second quarter worth approximately $67,657,000. Man Group plc purchased a new stake in BeOne Medicines during the second quarter worth $59,031,000. BNP Paribas Financial Markets bought a new stake in BeOne Medicines during the 2nd quarter valued at $38,337,000. First Trust Advisors LP boosted its position in BeOne Medicines by 91.9% during the 1st quarter. First Trust Advisors LP now owns 241,426 shares of the company’s stock valued at $71,696,000 after acquiring an additional 115,601 shares in the last quarter. Finally, Qube Research & Technologies Ltd bought a new stake in BeOne Medicines during the 2nd quarter valued at $26,034,000. 48.55% of the stock is currently owned by institutional investors.

BeOne Medicines Company Profile

BeOne Medicines Ltd. is a global oncology company domiciled in Switzerland that is discovering and developing innovative treatments that are more affordable and accessible to cancer patients worldwide. The firm portfolio spanning hematology and solid tumors, BeOne is expediting development of its diverse pipeline of novel therapeutics through its internal capabilities and collaborations. The company was founded by Xiao Dong Wang and John V. Oyler on October 28, 2010 and is headquartered in Basel, Switzerland.