Royal Bank Of Canada Raises BeOne Medicines (NASDAQ:ONC) Price Target to $395.00

BeOne Medicines (NASDAQ:ONC) had its price objective increased by stock analysts at Royal Bank Of Canada from $374.00 to $395.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price indicates a potential upside of 23.45% from the stock’s previous close.

Several other research analysts have also commented on the stock. Guggenheim raised their price target on shares of BeOne Medicines from $350.00 to $365.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Morgan Stanley raised their target price on shares of BeOne Medicines from $350.00 to $383.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. Weiss Ratings restated a “sell (d-)” rating on shares of BeOne Medicines in a report on Wednesday, October 8th. Zacks Research downgraded BeOne Medicines from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 28th. Finally, Barclays assumed coverage on BeOne Medicines in a research report on Thursday, September 18th. They issued an “overweight” rating and a $385.00 price objective on the stock. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $353.00.

BeOne Medicines Price Performance

ONC stock opened at $319.97 on Friday. The company has a market cap of $35.09 billion, a PE ratio of 627.39 and a beta of 0.31. The company has a current ratio of 1.95, a quick ratio of 1.72 and a debt-to-equity ratio of 0.04. The stock has a 50-day moving average price of $326.91 and a two-hundred day moving average price of $288.01. BeOne Medicines has a 12-month low of $170.99 and a 12-month high of $355.30.

BeOne Medicines (NASDAQ:ONC) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.36. BeOne Medicines had a return on equity of 5.76% and a net margin of 1.38%.The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.24 billion. As a group, research analysts predict that BeOne Medicines will post -5.82 EPS for the current year.

Insiders Place Their Bets

In other BeOne Medicines news, CEO John Oyler sold 27,803 shares of the company’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $325.71, for a total value of $9,055,715.13. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Lai Wang sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $350.06, for a total transaction of $1,750,300.00. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 157,074 shares of company stock valued at $49,396,898. Insiders own 6.62% of the company’s stock.

Institutional Trading of BeOne Medicines

Institutional investors have recently added to or reduced their stakes in the stock. Fiera Capital Corp boosted its stake in BeOne Medicines by 20.1% during the 3rd quarter. Fiera Capital Corp now owns 25,117 shares of the company’s stock valued at $8,557,000 after acquiring an additional 4,205 shares during the last quarter. NewEdge Wealth LLC raised its stake in shares of BeOne Medicines by 7.0% in the 3rd quarter. NewEdge Wealth LLC now owns 1,877 shares of the company’s stock valued at $603,000 after purchasing an additional 123 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of BeOne Medicines by 40.3% during the third quarter. PNC Financial Services Group Inc. now owns 1,319 shares of the company’s stock worth $449,000 after purchasing an additional 379 shares during the last quarter. Cibc World Market Inc. acquired a new position in BeOne Medicines in the third quarter worth about $255,000. Finally, Profund Advisors LLC increased its holdings in BeOne Medicines by 23.0% in the third quarter. Profund Advisors LLC now owns 5,831 shares of the company’s stock valued at $1,987,000 after buying an additional 1,091 shares during the last quarter. 48.55% of the stock is owned by institutional investors and hedge funds.

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.