BeOne Medicines (NASDAQ:ONC) Stock Price Expected to Rise, Citigroup Analyst Says

BeOne Medicines (NASDAQ:ONC) had its price objective boosted by equities research analysts at Citigroup from $399.00 to $405.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s target price would suggest a potential upside of 23.03% from the company’s current price.

Several other research firms also recently weighed in on ONC. Morgan Stanley increased their target price on BeOne Medicines from $350.00 to $383.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Guggenheim upped their price target on shares of BeOne Medicines from $350.00 to $365.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Zacks Research lowered shares of BeOne Medicines from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 28th. JPMorgan Chase & Co. increased their target price on BeOne Medicines from $345.00 to $385.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. Finally, Citizens Jmp upped their price target on BeOne Medicines from $348.00 to $396.00 and gave the stock a “market outperform” rating in a research note on Friday. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $357.33.

BeOne Medicines Trading Up 2.9%

ONC stock traded up $9.23 during midday trading on Monday, hitting $329.20. The stock had a trading volume of 136,468 shares, compared to its average volume of 389,867. BeOne Medicines has a 12-month low of $170.99 and a 12-month high of $355.30. The firm has a market cap of $36.10 billion, a PE ratio of 645.49 and a beta of 0.31. The company’s 50-day moving average price is $326.91 and its 200 day moving average price is $288.29. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.39 and a quick ratio of 2.17.

Insider Transactions at BeOne Medicines

In other BeOne Medicines news, Director Corazon (Corsee) D. Sanders sold 2,665 shares of the company’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $337.00, for a total value of $898,105.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lai Wang sold 5,000 shares of BeOne Medicines stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $350.06, for a total transaction of $1,750,300.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 157,074 shares of company stock worth $49,396,898 over the last 90 days. 6.62% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Primecap Management Co. CA acquired a new position in BeOne Medicines during the 2nd quarter worth $1,231,720,000. Temasek Holdings Private Ltd bought a new position in shares of BeOne Medicines during the second quarter worth about $244,603,000. Marshall Wace LLP acquired a new position in BeOne Medicines in the second quarter worth about $113,190,000. Baird Financial Group Inc. acquired a new position in BeOne Medicines in the second quarter worth about $82,895,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in BeOne Medicines in the second quarter valued at about $73,347,000. 48.55% of the stock is currently owned by institutional investors.

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.