Brokerages Set BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) Price Target at $402.14

Shares of BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) have earned an average recommendation of “Buy” from the seventeen ratings firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $402.7143.

Several analysts recently commented on the company. Truist Financial boosted their price target on BeOne Medicines from $416.00 to $418.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Guggenheim upped their target price on shares of BeOne Medicines from $420.00 to $430.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Citizens Jmp increased their target price on shares of BeOne Medicines from $396.00 to $405.00 and gave the company a “market outperform” rating in a research report on Thursday, August 6th. Nomura raised shares of BeOne Medicines to a “strong-buy” rating in a research note on Monday, July 27th. Finally, Wall Street Zen upgraded shares of BeOne Medicines from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 18th.

BeOne Medicines Stock Performance

ONC opened at $346.51 on Friday. The company has a quick ratio of 3.06, a current ratio of 3.40 and a debt-to-equity ratio of 0.17. The company has a market cap of $38.04 billion, a price-to-earnings ratio of 61.01 and a beta of 0.51. BeOne Medicines has a 52-week low of $253.95 and a 52-week high of $385.22. The firm’s fifty day simple moving average is $339.71 and its two-hundred day simple moving average is $311.50.

BeOne Medicines (NASDAQ:ONC) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $2.05 EPS for the quarter, topping the consensus estimate of $1.40 by $0.65. BeOne Medicines had a return on equity of 14.23% and a net margin of 10.70%.The company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.66 billion. Equities analysts anticipate that BeOne Medicines will post 8.81 earnings per share for the current fiscal year.

Insider Activity at BeOne Medicines

In related news, CEO John Oyler sold 145,861 shares of the stock in a transaction that occurred on Tuesday, July 14th. The stock was sold at an average price of $305.95, for a total value of $44,626,172.95. Following the completion of the sale, the chief executive officer owned 8,122 shares of the company’s stock, valued at approximately $2,484,925.90. This trade represents a 94.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Xiaodong Wang sold 38,287 shares of BeOne Medicines stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $349.10, for a total value of $13,365,991.70. Following the transaction, the insider owned 6,079 shares in the company, valued at approximately $2,122,178.90. The trade was a 86.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 613,411 shares of company stock worth $202,729,283. Insiders own 6.19% of the company’s stock.

Hedge Funds Weigh In On BeOne Medicines

A number of institutional investors have recently bought and sold shares of the company. EFG International AG acquired a new stake in shares of BeOne Medicines during the 4th quarter worth approximately $25,000. Leonteq Securities AG purchased a new position in BeOne Medicines in the fourth quarter worth approximately $35,000. Daiwa Securities Group Inc. acquired a new stake in BeOne Medicines during the second quarter worth $35,000. CWM LLC lifted its stake in shares of BeOne Medicines by 32.8% in the 4th quarter. CWM LLC now owns 158 shares of the company’s stock valued at $48,000 after purchasing an additional 39 shares during the last quarter. Finally, Group One Trading LLC acquired a new position in shares of BeOne Medicines in the 4th quarter valued at $61,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

BeOne Medicines Company Profile

BeOne Medicines Ltd. is a global biotechnology company focused on the discovery, development and commercialization of medicines for cancer and other serious diseases. The company works across research, clinical development, manufacturing and commercialization, with the goal of expanding access to innovative treatments in markets around the world.

BeOne’s commercial portfolio includes BRUKINSA (zanubrutinib), a Bruton’s tyrosine kinase inhibitor used to treat certain B-cell malignancies, and TEVIMBRA (tislelizumab), an immunotherapy approved in multiple markets for several cancer indications.