BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) Receives $402.14 Average Price Target from Brokerages

Shares of BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) have received an average rating of “Buy” from the seventeen research firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $402.7143.

Several equities research analysts have weighed in on the company. Barclays upped their price target on BeOne Medicines from $407.00 to $415.00 and gave the stock an “overweight” rating in a report on Thursday. TD Cowen boosted their price target on BeOne Medicines from $424.00 to $454.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of BeOne Medicines in a research note on Friday, July 17th. Citizens Jmp boosted their target price 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. Finally, Truist Financial increased their price target on shares of BeOne Medicines from $416.00 to $418.00 and gave the company a “buy” rating in a research report on Thursday, August 6th.

BeOne Medicines Stock Down 2.6%

Shares of NASDAQ ONC opened at $341.80 on Friday. The company has a quick ratio of 3.06, a current ratio of 3.40 and a debt-to-equity ratio of 0.17. The firm has a market cap of $37.53 billion, a price-to-earnings ratio of 60.18 and a beta of 0.51. BeOne Medicines has a 52-week low of $253.95 and a 52-week high of $385.22. The business’s 50 day moving average is $338.73 and its two-hundred day moving average is $311.25.

BeOne Medicines (NASDAQ:ONC) last announced its earnings results on Wednesday, August 5th. The company reported $2.05 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $1.66 billion. Research analysts predict that BeOne Medicines will post 8.81 EPS for the current year.

Insider Transactions at BeOne Medicines

In other BeOne Medicines news, CEO John Oyler sold 54,892 shares of the business’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $358.15, for a total value of $19,659,569.80. Following the completion of the transaction, the chief executive officer directly owned 240,743 shares in the company, valued at approximately $86,222,105.45. The trade was a 18.57% decrease in their position. The sale 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 company’s stock in a transaction on Tuesday, August 11th. The shares were 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 613,411 shares of company stock worth $202,729,283 in the last three months. 6.19% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BeOne Medicines

A number of large investors have recently modified their holdings of the company. EFG International AG acquired a new position in shares of BeOne Medicines during the 4th quarter valued at $25,000. Leonteq Securities AG acquired a new stake in BeOne Medicines during the 4th quarter valued at approximately $35,000. Daiwa Securities Group Inc. bought a new stake in shares of BeOne Medicines in the second quarter worth $35,000. CWM LLC increased its position in shares of BeOne Medicines by 32.8% in the 4th quarter. CWM LLC now owns 158 shares of the company’s stock worth $48,000 after purchasing an additional 39 shares during the last quarter. Finally, Group One Trading LLC acquired a new stake in BeOne Medicines during the fourth quarter valued at approximately $61,000. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

BeOne Medicines Company Profile

BeOne Medicines Ltd. is a global biotechnology company focused on the discovery, development and commercialization of medicines for cancer and other serious diseases. The company works across research, clinical development, manufacturing and commercialization, with the goal of expanding access to innovative treatments in markets around the world.

BeOne’s commercial portfolio includes BRUKINSA (zanubrutinib), a Bruton’s tyrosine kinase inhibitor used to treat certain B-cell malignancies, and TEVIMBRA (tislelizumab), an immunotherapy approved in multiple markets for several cancer indications.