BeOne Medicines (NASDAQ:ONC) Stock Price Target Raised at JPMorgan Chase & Co.

BeOne Medicines (NASDAQ:ONC) had its target price raised by JPMorgan Chase & Co. from $425.00 to $445.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 23.34% from the stock’s current price.

A number of other equities research analysts have also issued reports on ONC. Zacks Research upgraded BeOne Medicines from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. Wolfe Research restated an “outperform” rating and issued a $370.00 target price on shares of BeOne Medicines in a report on Monday, August 10th. Truist Financial lifted their price target on BeOne Medicines from $416.00 to $418.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Guggenheim upped their price objective on shares of BeOne Medicines from $420.00 to $430.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, Citigroup reissued an “outperform” rating on shares of BeOne Medicines in a research note on Thursday, August 6th. Three analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $404.14.

BeOne Medicines Price Performance

ONC traded down $5.15 on Thursday, hitting $360.79. 187,743 shares of the company’s stock were exchanged, compared to its average volume of 304,262. The firm has a 50-day moving average price of $352.67 and a 200-day moving average price of $315.41. The stock has a market cap of $39.61 billion, a price-to-earnings ratio of 63.54 and a beta of 0.51. 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 fifty-two week low of $253.95 and a fifty-two week high of $385.22.

BeOne Medicines (NASDAQ:ONC) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.65. BeOne Medicines had a net margin of 10.70% and a return on equity of 14.23%. The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.66 billion. As a group, equities analysts anticipate that BeOne Medicines will post 8.81 earnings per share for the current year.

Insiders Place Their Bets

In other BeOne Medicines news, insider Xiaodong Wang sold 38,287 shares of the firm’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $349.10, for a total value of $13,365,991.70. Following the sale, the insider directly owned 6,079 shares in the company, valued at $2,122,178.90. This trade represents a 86.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John Oyler sold 145,861 shares of BeOne Medicines stock in a transaction dated 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 sale, the chief executive officer directly owned 8,122 shares of the company’s stock, valued at $2,484,925.90. This trade represents a 94.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 631,860 shares of company stock valued at $210,652,073. 6.19% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BeOne Medicines

Several institutional investors have recently added to or reduced their stakes in the business. First Trust Advisors LP increased its stake in 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 purchasing an additional 115,601 shares during the last quarter. Jennison Associates LLC grew its position in shares of BeOne Medicines by 102.1% in the 1st quarter. Jennison Associates LLC now owns 154,465 shares of the company’s stock valued at $45,871,000 after buying an additional 78,027 shares during the last quarter. Capital International Investors raised its stake in BeOne Medicines by 1.3% during the 4th quarter. Capital International Investors now owns 5,113,866 shares of the company’s stock worth $1,553,909,000 after acquiring an additional 67,808 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in BeOne Medicines during the 1st quarter worth $19,438,000. Finally, Candriam S.C.A. lifted its position in BeOne Medicines by 31.7% in the first quarter. Candriam S.C.A. now owns 259,731 shares of the company’s stock valued at $77,132,000 after acquiring an additional 62,470 shares during the last quarter. Hedge funds and other institutional investors own 48.55% of the company’s stock.

BeOne Medicines Company Profile

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.