BeOne Medicines (NASDAQ:ONC – Get Free Report) had its target price raised by stock analysts at Royal Bank Of Canada from $425.00 to $436.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target points to a potential upside of 56.76% from the company’s previous close.
Several other analysts have also recently commented on the company. Guggenheim raised their target price on BeOne Medicines from $410.00 to $420.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Morgan Stanley reaffirmed an “overweight” rating and set a $395.00 target price on shares of BeOne Medicines in a research note on Thursday, May 7th. Leerink Partners increased their price objective on BeOne Medicines from $364.00 to $367.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. Wells Fargo & Company started coverage on shares of BeOne Medicines in a research note on Monday, May 4th. They issued an “overweight” rating and a $400.00 price objective for the company. Finally, Wolfe Research started coverage on shares of BeOne Medicines in a research report on Friday, March 27th. They issued an “outperform” rating and a $340.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $390.00.
Get Our Latest Research Report on BeOne Medicines
BeOne Medicines Stock Down 3.4%
BeOne Medicines (NASDAQ:ONC – Get Free Report) last released its quarterly earnings results on Wednesday, April 1st. The company reported $0.25 earnings per share (EPS) for the quarter. The firm had revenue of $1.51 billion for the quarter. BeOne Medicines had a net margin of 8.94% and a return on equity of 12.06%. Equities research analysts forecast that BeOne Medicines will post 5.65 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, Director Margaret Dugan sold 212 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $309.60, for a total value of $65,635.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Alessandro Riva sold 212 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $309.51, for a total value of $65,616.12. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 1,641 shares of company stock valued at $505,791 over the last ninety days. Company insiders own 6.19% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of ONC. EFG International AG bought a new stake in BeOne Medicines during the 4th quarter worth about $25,000. Leonteq Securities AG bought a new position in BeOne Medicines during the fourth quarter worth about $35,000. Daiwa Securities Group Inc. acquired a new position in shares of BeOne Medicines during the 2nd quarter worth about $35,000. CWM LLC grew its position in shares of BeOne Medicines by 32.8% during the 4th quarter. CWM LLC now owns 158 shares of the company’s stock worth $48,000 after buying an additional 39 shares during the period. Finally, Group One Trading LLC bought a new stake in shares of BeOne Medicines in the 4th quarter valued at about $61,000. 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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