JPMorgan Chase & Co. Raises BeOne Medicines (NASDAQ:ONC) Price Target to $425.00

BeOne Medicines (NASDAQ:ONC) had its price target raised by investment analysts at JPMorgan Chase & Co. from $415.00 to $425.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 29.37% from the stock’s current price.

A number of other equities research analysts have also recently commented on ONC. Morgan Stanley reaffirmed an “overweight” rating and issued a $395.00 price target on shares of BeOne Medicines in a report on Thursday, May 7th. Royal Bank Of Canada upped their price target on BeOne Medicines from $436.00 to $451.00 and gave the company an “outperform” rating in a research report on Tuesday, July 7th. Truist Financial lifted their price objective on BeOne Medicines from $413.00 to $416.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Citizens Jmp restated a “market outperform” rating and issued a $396.00 price objective on shares of BeOne Medicines in a research note on Wednesday, July 1st. Finally, Wells Fargo & Company initiated coverage on shares of BeOne Medicines in a report on Monday, May 4th. They set an “overweight” rating and a $400.00 price objective on the stock. One investment 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 company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $394.00.

BeOne Medicines Stock Performance

ONC traded up $8.59 during trading on Thursday, hitting $328.52. 290,664 shares of the company traded hands, compared to its average volume of 276,966. BeOne Medicines has a one year low of $253.95 and a one year high of $385.22. The stock’s fifty day moving average is $290.35 and its 200 day moving average is $309.20. 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 firm has a market cap of $36.04 billion, a P/E ratio of 73.41 and a beta of 0.49.

BeOne Medicines (NASDAQ:ONC) last released its earnings results on Wednesday, April 1st. The company reported $0.25 earnings per share for the quarter. BeOne Medicines had a net margin of 8.94% and a return on equity of 12.06%. The firm had revenue of $1.51 billion for the quarter. As a group, equities analysts predict that BeOne Medicines will post 5.86 EPS for the current fiscal year.

Insider Transactions at BeOne Medicines

In other news, CEO John Oyler sold 145,861 shares of BeOne Medicines stock in a transaction on Tuesday, July 14th. The stock was sold at an average price of $305.95, for a total value of $44,626,172.95. Following the completion of the transaction, the chief executive officer directly owned 8,122 shares in the company, valued at approximately $2,484,925.90. The trade was a 94.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lai Wang sold 1,367 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $269.38, for a total value of $368,242.46. Following the sale, the insider owned 40 shares in the company, valued at approximately $10,775.20. The trade was a 97.16% decrease in their ownership of the stock. 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. Insiders sold 233,647 shares of company stock valued at $70,335,553 over the last three months. Company insiders own 6.19% of the company’s stock.

Hedge Funds Weigh In On BeOne Medicines

Hedge funds have recently bought and sold shares of the company. EFG International AG bought a new position in BeOne Medicines in the 4th quarter valued at $25,000. Leonteq Securities AG bought a new position in shares of BeOne Medicines in the fourth quarter worth $35,000. Daiwa Securities Group Inc. bought a new position in shares of BeOne Medicines in the second quarter worth $35,000. CWM LLC raised its position in shares of BeOne Medicines by 32.8% in the fourth quarter. CWM LLC now owns 158 shares of the company’s stock worth $48,000 after buying an additional 39 shares in the last quarter. Finally, Group One Trading LLC bought a new stake in BeOne Medicines during the fourth quarter valued at $61,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.

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.