BeOne Medicines (NASDAQ:ONC) Price Target Raised to $459.00

BeOne Medicines (NASDAQ:ONC) had its target price boosted by Royal Bank Of Canada from $450.00 to $459.00 in a report published on Thursday, Marketbeat.com reports. They currently have an outperform rating on the stock.

Other equities analysts also recently issued research reports about the company. Citizens Jmp lifted their price objective on BeOne Medicines from $396.00 to $405.00 and gave the stock a “market outperform” rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. upped their target price on BeOne Medicines from $425.00 to $445.00 and gave the company an “overweight” rating in a report on Thursday, October 1st. Weiss Ratings raised BeOne Medicines from a “sell (d-)” rating to a “hold (c+)” rating in a research note on Tuesday, September 22nd. Zacks Research lowered BeOne Medicines from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. Finally, Guggenheim boosted their price target on shares of BeOne Medicines from $420.00 to $430.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, BeOne Medicines presently has a consensus rating of “Buy” and a consensus target price of $404.93.

BeOne Medicines Stock Up 1.2%

ONC stock opened at $354.47 on Thursday. The company has a market cap of $38.92 billion, a price-to-earnings ratio of 62.41 and a beta of 0.61. 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 12 month low of $253.95 and a 12 month high of $385.22. The firm has a 50-day moving average of $357.38 and a two-hundred day moving average of $318.85.

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

Insider Activity at BeOne Medicines

In related news, CEO John Oyler sold 145,861 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 8,122 shares in the company, valued at approximately $2,484,925.90. This represents a 94.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Chan Lee sold 2,666 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $360.00, for a total value of $959,760.00. Following the completion of the transaction, the senior vice president owned 812 shares of the company’s stock, valued at $292,320. The trade was a 76.65% 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 three months, insiders have sold 620,613 shares of company stock worth $207,379,383. Insiders own 6.19% of the company’s stock.

Hedge Funds Weigh In On BeOne Medicines

Several large investors have recently modified their holdings of ONC. GAMMA Investing LLC increased its holdings in BeOne Medicines by 39.5% in the 3rd quarter. GAMMA Investing LLC now owns 120 shares of the company’s stock valued at $44,000 after purchasing an additional 34 shares during the last quarter. Steadtrust LLC raised its position in BeOne Medicines by 3.7% in the second quarter. Steadtrust LLC now owns 1,400 shares of the company’s stock valued at $399,000 after purchasing an additional 50 shares during the period. EverSource Wealth Advisors LLC lifted its stake in BeOne Medicines by 16.4% during the first quarter. EverSource Wealth Advisors LLC now owns 369 shares of the company’s stock worth $110,000 after purchasing an additional 52 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in BeOne Medicines by 4.2% during the first quarter. Sequoia Financial Advisors LLC now owns 1,628 shares of the company’s stock worth $483,000 after purchasing an additional 65 shares in the last quarter. Finally, Parallel Advisors LLC boosted its position in shares of BeOne Medicines by 24.0% during the first quarter. Parallel Advisors LLC now owns 351 shares of the company’s stock worth $104,000 after buying an additional 68 shares during the period. Institutional investors and hedge funds 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.