BeOne Medicines (NASDAQ:ONC) Shares Gap Up – Time to Buy?

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) gapped up before the market opened on Friday . The stock had previously closed at $276.95, but opened at $286.08. BeOne Medicines shares last traded at $286.1510, with a volume of 54,548 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ONC. Morgan Stanley reiterated an “overweight” rating and issued a $405.00 target price on shares of BeOne Medicines in a research note on Thursday, January 8th. Barclays lifted their price objective on shares of BeOne Medicines from $394.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday, February 27th. Sanford C. Bernstein raised shares of BeOne Medicines from a “hold” rating to an “outperform” rating and set a $414.00 target price on the stock in a report on Monday, January 12th. Truist Financial raised their price target on BeOne Medicines from $400.00 to $412.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of BeOne Medicines in a research report on Wednesday, January 21st. Eleven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $385.08.

BeOne Medicines Price Performance

The business’s 50-day moving average price is $325.02 and its 200 day moving average price is $327.33. The company has a market capitalization of $31.25 billion, a P/E ratio of 112.92 and a beta of 0.53. The company has a quick ratio of 3.08, a current ratio of 3.41 and a debt-to-equity ratio of 0.22.

BeOne Medicines (NASDAQ:ONC) last posted its earnings results on Thursday, February 26th. The company reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $1.60 by ($1.02). BeOne Medicines had a return on equity of 10.70% and a net margin of 5.37%.The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.45 billion. Analysts anticipate that BeOne Medicines Ltd. – Sponsored ADR will post -5.82 EPS for the current fiscal year.

Insider Buying and Selling at BeOne Medicines

In other news, SVP Chan Henry Lee sold 1,660 shares of the company’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $349.52, for a total value of $580,203.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 2,665 shares of company stock valued at $902,792 over the last quarter. Corporate insiders own 6.62% of the company’s stock.

Hedge Funds Weigh In On BeOne Medicines

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Legal & General Group Plc bought a new position in shares of BeOne Medicines in the second quarter worth approximately $13,857,000. Mirae Asset Global Investments Co. Ltd. lifted its position in BeOne Medicines by 1,019.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,816 shares of the company’s stock valued at $14,587,000 after purchasing an additional 38,992 shares during the last quarter. Fiera Capital Corp grew its stake in BeOne Medicines by 20.1% in the 3rd quarter. Fiera Capital Corp now owns 25,117 shares of the company’s stock worth $8,557,000 after buying an additional 4,205 shares in the last quarter. Virtus Investment Advisers LLC purchased a new position in BeOne Medicines in the 2nd quarter worth approximately $389,000. Finally, Baird Financial Group Inc. bought a new position in shares of BeOne Medicines in the 2nd quarter worth $82,895,000. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

About BeOne Medicines

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.