BeOne Medicines (NASDAQ:ONC) Price Target Raised to $425.00

BeOne Medicines (NASDAQ:ONC) had its price objective upped by JPMorgan Chase & Co. from $415.00 to $425.00 in a research report released on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other equities analysts have also weighed in on ONC. Truist Financial lifted their target price on shares of BeOne Medicines from $413.00 to $416.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Zacks Research lowered shares of BeOne Medicines from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 3rd. Wells Fargo & Company initiated coverage on shares of BeOne Medicines in a research report on Monday, May 4th. They set an “overweight” rating and a $400.00 price target on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $395.00 price objective on shares of BeOne Medicines in a report on Thursday, May 7th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of BeOne Medicines in a research note on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $394.00.

BeOne Medicines Stock Down 0.3%

Shares of ONC opened at $325.90 on Thursday. BeOne Medicines has a 52 week low of $253.95 and a 52 week high of $385.22. The company has a quick ratio of 3.27, a current ratio of 3.64 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $35.76 billion, a price-to-earnings ratio of 72.91 and a beta of 0.49. The stock’s 50-day moving average price is $291.44 and its 200-day moving average price is $309.43.

BeOne Medicines (NASDAQ:ONC) last announced its quarterly earnings results on Wednesday, April 1st. The company reported $0.25 earnings per share for the quarter. BeOne Medicines had a return on equity of 12.06% and a net margin of 8.94%.The company had revenue of $1.51 billion during the quarter. On average, sell-side analysts predict that BeOne Medicines will post 5.93 EPS for the current year.

Insiders Place Their Bets

In other BeOne Medicines news, COO Xiaobin Wu sold 1,484 shares of the stock in a transaction on Monday, June 8th. The shares were sold at an average price of $269.37, for a total transaction of $399,745.08. Following the transaction, the chief operating officer directly owned 40 shares of the company’s stock, valued at $10,774.80. This trade represents a 97.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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, insider Lai Wang sold 1,367 shares of BeOne Medicines stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $269.38, for a total transaction of $368,242.46. Following the completion of the sale, the insider owned 40 shares in the company, valued at approximately $10,775.20. This trade represents a 97.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 233,647 shares of company stock worth $70,335,553. Company insiders own 6.19% of the company’s stock.

Institutional Investors Weigh In On BeOne Medicines

Several large investors have recently bought and sold shares of the company. Cetera Investment Advisers acquired a new position in shares of BeOne Medicines during the second quarter valued at approximately $455,000. Rhumbline Advisers acquired a new stake in shares of BeOne Medicines in the second quarter worth approximately $275,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of BeOne Medicines during the second quarter worth approximately $505,000. Invesco Ltd. purchased a new stake in shares of BeOne Medicines during the second quarter worth approximately $422,000. Finally, EverSource Wealth Advisors LLC acquired a new position in BeOne Medicines in the 2nd quarter valued at $68,000. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting BeOne Medicines

Here are the key news stories impacting BeOne Medicines this week:

• Positive Sentiment: JPMorgan raised its price target on BeOne Medicines to $425 from $415 and reiterated an overweight rating, signaling additional upside from recent trading levels.
• Positive Sentiment: BeOne announced plans to invest $300 million to expand its New Jersey manufacturing campus, reinforcing long-term U.S. growth, supply-chain capacity, and commitment to oncology production. Article: BeOne Medicines To Invest $300M In New Jersey Manufacturing Expansion
• Positive Sentiment: Another report described the U.S. manufacturing expansion as part of a broader investment plan of more than $1 billion, which may be viewed favorably by investors looking for scale and operational resilience.

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.