BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) Stock Has Average Price Target of $402.71 According to Brokerages

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) has received an average recommendation of “Moderate Buy” from the seventeen brokerages that are currently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, twelve have given a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $404.29.

A number of equities analysts have recently weighed in on ONC shares. JPMorgan Chase & Co. upped their target price on BeOne Medicines from $425.00 to $445.00 and gave the stock an “overweight” rating in a research report on Thursday, October 1st. Barclays boosted their price target on shares of BeOne Medicines from $407.00 to $415.00 and gave the company an “overweight” rating in a research note on Thursday, September 10th. Guggenheim raised their price objective on shares of BeOne Medicines from $420.00 to $430.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Citigroup reiterated an “outperform” rating on shares of BeOne Medicines in a report on Thursday, August 6th. Finally, Royal Bank Of Canada lowered their target price on shares of BeOne Medicines from $451.00 to $450.00 and set an “outperform” rating on the stock in a report on Thursday, August 6th.

BeOne Medicines Price Performance

Shares of NASDAQ ONC opened at $364.02 on Thursday. The firm has a market capitalization of $39.97 billion, a P/E ratio of 64.09 and a beta of 0.61. The firm’s 50-day moving average price is $356.05 and its 200-day moving average price is $318.08. The company has a current ratio of 3.40, a quick ratio of 3.06 and a debt-to-equity ratio of 0.17. BeOne Medicines has a 1-year low of $253.95 and a 1-year high of $385.22.

BeOne Medicines (NASDAQ:ONC) last issued its earnings results on Wednesday, August 5th. The company reported $2.05 EPS for the quarter, beating the consensus estimate of $1.40 by $0.65. BeOne Medicines had a return on equity of 14.23% and a net margin of 10.70%.The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.66 billion. Equities research analysts anticipate that BeOne Medicines will post 8.99 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Xiaodong Wang sold 31,028 shares of the stock in a transaction that occurred on Monday, September 28th. The stock was sold at an average price of $364.79, for a total value of $11,318,704.12. Following the completion of the sale, the insider directly owned 31,028 shares of the company’s stock, valued at $11,318,704.12. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Titus B. Ball sold 132 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $355.86, for a total value of $46,973.52. 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. In the last three months, insiders sold 632,311 shares of company stock worth $210,869,364. Company insiders own 6.19% of the company’s stock.

Institutional Trading of BeOne Medicines

A number of hedge funds have recently bought and sold shares of the business. QRG Capital Management Inc. increased its position in shares of BeOne Medicines by 13.6% during the 2nd quarter. QRG Capital Management Inc. now owns 1,918 shares of the company’s stock valued at $547,000 after purchasing an additional 230 shares during the last quarter. Tidal Investments LLC grew its position in BeOne Medicines by 7.3% during the second quarter. Tidal Investments LLC now owns 13,561 shares of the company’s stock valued at $3,864,000 after buying an additional 928 shares during the period. Engineers Gate Manager LP purchased a new stake in BeOne Medicines during the second quarter worth about $4,646,000. Squarepoint Ops LLC increased its holdings in BeOne Medicines by 6.0% during the second quarter. Squarepoint Ops LLC now owns 78,561 shares of the company’s stock worth $22,388,000 after buying an additional 4,437 shares during the last quarter. Finally, Baird Financial Group Inc. raised its position in BeOne Medicines by 5.5% in the second quarter. Baird Financial Group Inc. now owns 368,978 shares of the company’s stock worth $105,148,000 after acquiring an additional 19,327 shares during the period. 48.55% of the stock is currently owned by institutional investors.

About BeOne Medicines

BeOne Medicines Ltd. (NASDAQ: ONC) is a global oncology company focused on discovering, developing, manufacturing and commercializing medicines for people with cancer. The company operates across the research and development, clinical testing, regulatory and commercial stages of the biopharmaceutical industry, with an emphasis on treatments for blood cancers and solid tumors.

Its marketed portfolio includes BRUKINSA (zanubrutinib), a Bruton’s tyrosine kinase inhibitor used to treat several B-cell malignancies, and TEVIMBRA (tislelizumab), an immunotherapy targeting the PD-1 pathway for certain cancers.