Shares of BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC – Get Free Report) have been given a consensus recommendation of “Buy” by the seventeen research firms that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $404.14.
ONC has been the subject of several recent analyst reports. Citigroup restated an “outperform” rating on shares of BeOne Medicines in a research note on Thursday, August 6th. Truist Financial increased their price objective on BeOne Medicines from $416.00 to $418.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Nomura upgraded BeOne Medicines to a “strong-buy” rating in a report on Monday, July 27th. Barclays boosted their target price on BeOne Medicines from $407.00 to $415.00 and gave the stock an “overweight” rating in a research report on Thursday, September 10th. Finally, Guggenheim raised their price target on shares of BeOne Medicines from $420.00 to $430.00 and gave the company a “buy” rating in a report on Thursday, August 6th.
Key BeOne Medicines News
- Positive Sentiment: JPMorgan raised its price target on BeOne Medicines to $445 from $425 and maintained an “overweight” rating, implying substantial upside from recent levels. This reinforces the broader Wall Street consensus, which remains “Buy.” JPMorgan raises BeOne Medicines price target
- Positive Sentiment: Investor’s Business Daily said BeOne shares are approaching potential buy points, highlighting continued momentum in BRUKINSA, the company’s blockbuster cancer drug, which generated $1.2 billion in second-quarter sales. BeOne Medicines poised to hit early buy points
- Neutral Sentiment: BeOne’s latest quarterly results exceeded expectations, with earnings of $2.05 per share versus a $1.40 consensus estimate and revenue of $1.71 billion versus $1.66 billion. Analysts expect approximately $8.81 in full-year earnings per share, although the stock’s valuation remains elevated at more than 60 times earnings.
- Negative Sentiment: Insider Xiaodong Wang sold 31,028 shares for approximately $11.3 million, reducing his direct ownership by 50%. Separately, Senior Vice President Chan Lee sold 1,115 shares for about $418,000. Both transactions were executed under pre-arranged Rule 10b5-1 plans, which lessens—but does not eliminate—their significance as a sentiment signal. BeOne Medicines insider sales
Insider Transactions at BeOne Medicines
In other news, COO Xiaobin Wu sold 280 shares of the business’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $380.00, for a total value of $106,400.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Titus B. Ball sold 132 shares of BeOne Medicines stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $355.86, for a total transaction of $46,973.52. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 632,975 shares of company stock valued at $211,070,198. Company insiders own 6.19% of the company’s stock.
Hedge Funds Weigh In On BeOne Medicines
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. QRG Capital Management Inc. increased its position in BeOne Medicines by 13.6% in the second quarter. QRG Capital Management Inc. now owns 1,918 shares of the company’s stock worth $547,000 after purchasing an additional 230 shares during the last quarter. Tidal Investments LLC increased its stake in BeOne Medicines by 7.3% during the second quarter. Tidal Investments LLC now owns 13,561 shares of the company’s stock worth $3,864,000 after acquiring an additional 928 shares during the last quarter. Engineers Gate Manager LP bought a new stake in BeOne Medicines during the second quarter worth approximately $4,646,000. Squarepoint Ops LLC lifted its position in BeOne Medicines by 6.0% in the second quarter. Squarepoint Ops LLC now owns 78,561 shares of the company’s stock worth $22,388,000 after buying an additional 4,437 shares during the last quarter. Finally, Baird Financial Group Inc. boosted its stake in shares of BeOne Medicines by 5.5% during the 2nd quarter. Baird Financial Group Inc. now owns 368,978 shares of the company’s stock worth $105,148,000 after purchasing an additional 19,327 shares during the period. 48.55% of the stock is owned by institutional investors.
BeOne Medicines Price Performance
Shares of ONC opened at $358.07 on Thursday. The company has a market capitalization of $39.31 billion, a P/E ratio of 63.04 and a beta of 0.61. 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 firm has a 50 day moving average of $353.95 and a 200 day moving average of $316.23. BeOne Medicines has a twelve month low of $253.95 and a twelve month high of $385.22.
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, beating 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 business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.66 billion. As a group, equities research analysts anticipate that BeOne Medicines will post 8.81 earnings per share for the current fiscal year.
About BeOne Medicines
BeOne Medicines Ltd. (NASDAQ: ONC) is a global oncology company focused on discovering, developing, manufacturing and commercializing medicines for people with cancer. The company operates across the research and development, clinical testing, regulatory and commercial stages of the biopharmaceutical industry, with an emphasis on treatments for blood cancers and solid tumors.
Its marketed portfolio includes BRUKINSA (zanubrutinib), a Bruton’s tyrosine kinase inhibitor used to treat several B-cell malignancies, and TEVIMBRA (tislelizumab), an immunotherapy targeting the PD-1 pathway for certain cancers.
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