BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) Stock Has Average Price Target of $407.07

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) has been given an average rating of “Moderate Buy” by the seventeen research firms that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation, fourteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $412.26.

Several analysts recently commented on ONC shares. JPMorgan Chase & Co. lifted their target price on shares of BeOne Medicines from $425.00 to $445.00 and gave the stock an “overweight” rating in a report on Thursday, October 1st. Barclays increased their price target on shares of BeOne Medicines from $407.00 to $415.00 and gave the company an “overweight” rating in a report on Thursday, September 10th. Wall Street Zen raised shares of BeOne Medicines from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 18th. Royal Bank Of Canada raised their price objective on shares of BeOne Medicines from $450.00 to $459.00 and gave the stock an “outperform” rating in a research report on Thursday, October 8th. Finally, Citigroup restated an “outperform” rating on shares of BeOne Medicines in a report on Thursday, August 6th.

BeOne Medicines Trading Up 2.0%

Shares of BeOne Medicines stock opened at $373.36 on Monday. The business has a fifty day simple moving average of $363.23 and a two-hundred day simple moving average of $325.09. BeOne Medicines has a 1 year low of $253.95 and a 1 year high of $388.66. The company has a market capitalization of $40.99 billion, a price-to-earnings ratio of 65.73 and a beta of 0.61. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.40 and a quick ratio of 3.06.

BeOne Medicines (NASDAQ:ONC) last released its quarterly earnings data on Wednesday, August 5th. The company reported $2.05 EPS for the quarter, beating the consensus estimate of $1.40 by $0.65. The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.66 billion. BeOne Medicines had a net margin of 10.70% and a return on equity of 14.23%. Research analysts forecast that BeOne Medicines will post 8.99 EPS for the current year.

Insider Buying and Selling

In related news, SVP Chan Lee sold 2,666 shares of the business’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $360.00, for a total value of $959,760.00. Following the completion of the sale, the senior vice president directly owned 812 shares in the company, valued at $292,320. The trade was a 76.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John Oyler sold 115,011 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $357.87, for a total value of $41,158,986.57. Following the completion of the transaction, the chief executive officer directly owned 125,799 shares in the company, valued at approximately $45,019,688.13. This represents a 47.76% decrease in their ownership of the stock. 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 have sold 346,502 shares of company stock valued at $123,947,726 in the last ninety days. 6.19% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BeOne Medicines

A number of hedge funds and other institutional investors have recently modified their holdings of ONC. First Trust Advisors LP grew its stake in shares of BeOne Medicines by 91.9% in the first quarter. First Trust Advisors LP now owns 241,426 shares of the company’s stock valued at $71,696,000 after acquiring an additional 115,601 shares in the last quarter. Jennison Associates LLC raised its stake in BeOne Medicines by 102.1% in the 1st quarter. Jennison Associates LLC now owns 154,465 shares of the company’s stock worth $45,871,000 after purchasing an additional 78,027 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in BeOne Medicines in the 1st quarter worth about $19,438,000. Candriam S.C.A. raised its stake in BeOne Medicines by 31.7% in the 1st quarter. Candriam S.C.A. now owns 259,731 shares of the company’s stock worth $77,132,000 after purchasing an additional 62,470 shares in the last quarter. Finally, SEB Asset Management AB acquired a new stake in BeOne Medicines in the 1st quarter worth about $16,653,000. Institutional investors and hedge funds own 48.55% of the company’s stock.

About BeOne Medicines

BeOne Medicines Ltd. is a global oncology company focused on discovering, developing, manufacturing and commercializing medicines for cancer patients. Formerly known as BeiGene, the company operates an integrated biotechnology platform spanning research, clinical development, regulatory activities and commercial operations.

Its portfolio includes BRUKINSA (zanubrutinib), a Bruton’s tyrosine kinase inhibitor used in the treatment of several blood cancers, and TEVIMBRA (tislelizumab), an anti-PD-1 immunotherapy approved in multiple markets for certain cancers.