Shares of BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC – Get Free Report) have received a consensus rating of “Buy” from the seventeen analysts that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $402.1429.
ONC has been the subject of several analyst reports. Royal Bank Of Canada dropped their price target on shares of BeOne Medicines from $451.00 to $450.00 and set an “outperform” rating for the company in a research note on Thursday, August 6th. Citizens Jmp upped their price objective on BeOne Medicines from $396.00 to $405.00 and gave the company a “market outperform” rating in a report on Thursday, August 6th. Wells Fargo & Company started coverage on BeOne Medicines in a report on Monday, May 4th. They issued an “overweight” rating and a $400.00 price objective on the stock. Leerink Partners increased their price objective on BeOne Medicines from $364.00 to $367.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. Finally, JPMorgan Chase & Co. raised their target price on BeOne Medicines from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd.
Check Out Our Latest Stock Analysis on ONC
BeOne Medicines Trading Up 0.1%
BeOne Medicines (NASDAQ:ONC – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.65. BeOne Medicines had a net margin of 10.70% and a return on equity of 14.23%. The firm had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Sell-side analysts forecast that BeOne Medicines will post 7.3 EPS for the current year.
Insiders Place Their Bets
In other BeOne Medicines news, SVP Chan Henry Lee sold 1,044 shares of the company’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $323.69, for a total value of $337,932.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO John Oyler sold 61,397 shares of the stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $317.67, for a total transaction of $19,503,984.99. Following the transaction, the chief executive officer directly owned 9,180 shares of the company’s stock, valued at approximately $2,916,210.60. This trade represents a 86.99% 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. Insiders sold a total of 345,229 shares of company stock valued at $105,522,788 over the last 90 days. Company insiders own 6.19% of the company’s stock.
Hedge Funds Weigh In On BeOne Medicines
Several large investors have recently made changes to their positions in the stock. Capital International Investors increased its holdings in BeOne Medicines by 1.3% in the 4th quarter. Capital International Investors now owns 5,113,866 shares of the company’s stock valued at $1,553,909,000 after purchasing an additional 67,808 shares during the last quarter. Siren L.L.C. boosted its position in shares of BeOne Medicines by 1.4% during the fourth quarter. Siren L.L.C. now owns 500,000 shares of the company’s stock worth $151,905,000 after buying an additional 7,010 shares during the period. Morgan Stanley boosted its position in shares of BeOne Medicines by 23.9% during the fourth quarter. Morgan Stanley now owns 437,661 shares of the company’s stock worth $132,966,000 after buying an additional 84,367 shares during the period. Bank of America Corp DE grew its stake in shares of BeOne Medicines by 7.0% in the first quarter. Bank of America Corp DE now owns 405,273 shares of the company’s stock valued at $120,354,000 after buying an additional 26,441 shares in the last quarter. Finally, Candriam S.C.A. grew its stake in shares of BeOne Medicines by 31.7% in the first quarter. Candriam S.C.A. now owns 259,731 shares of the company’s stock valued at $77,132,000 after buying an additional 62,470 shares in the last quarter. 48.55% of the stock is currently 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. The company was founded by Xiao Dong Wang and John V. Oyler on October 28, 2010 and is headquartered in Basel, Switzerland.
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