BeOne Medicines (NASDAQ:ONC) Given New $425.00 Price Target at JPMorgan Chase & Co.

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

A number of other research analysts have also recently commented on ONC. Royal Bank Of Canada increased their target price on BeOne Medicines from $436.00 to $451.00 and gave the company an “outperform” rating in a research note on Tuesday, July 7th. Barclays dropped their price target on BeOne Medicines from $409.00 to $403.00 and set an “overweight” rating for the company in a research note on Tuesday, July 14th. Wells Fargo & Company assumed coverage on BeOne Medicines in a report on Monday, May 4th. They issued an “overweight” rating and a $400.00 price objective for the company. Guggenheim increased their price objective on BeOne Medicines from $410.00 to $420.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Finally, Wall Street Zen raised BeOne Medicines from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 18th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, BeOne Medicines currently has an average rating of “Moderate Buy” and an average price target of $394.00.

BeOne Medicines Price Performance

BeOne Medicines stock traded up $8.59 during mid-day 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 has a market cap of $36.04 billion, a price-to-earnings ratio of 73.41 and a beta of 0.49. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.27 and a current ratio of 3.64. The stock has a fifty day moving average price of $290.35 and a 200-day moving average price of $309.20.

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

Insiders Place Their Bets

In other news, insider Lai Wang sold 1,367 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider owned 40 shares in the company, valued at approximately $10,775.20. This trade represents a 97.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Xiaobin Wu sold 1,484 shares of BeOne Medicines stock in a transaction on Monday, June 8th. The stock was sold at an average price of $269.37, for a total transaction of $399,745.08. Following the completion of the transaction, the chief operating officer directly owned 40 shares in the company, valued at approximately $10,774.80. The trade was a 97.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 233,647 shares of company stock valued at $70,335,553 in the last ninety days. Company insiders own 6.19% of the company’s stock.

Institutional Trading of BeOne Medicines

Large investors have recently modified their holdings of the business. Mariner LLC lifted its stake in shares of BeOne Medicines by 3.8% in the 4th quarter. Mariner LLC now owns 883 shares of the company’s stock valued at $269,000 after purchasing an additional 32 shares during the period. Signaturefd LLC grew its stake in BeOne Medicines by 10.7% in the fourth quarter. Signaturefd LLC now owns 340 shares of the company’s stock worth $103,000 after purchasing an additional 33 shares during the period. Farther Finance Advisors LLC raised its holdings in BeOne Medicines by 21.8% in the fourth quarter. Farther Finance Advisors LLC now owns 218 shares of the company’s stock worth $66,000 after purchasing an additional 39 shares in the last quarter. CWM LLC lifted its position in BeOne Medicines by 32.8% during the fourth quarter. CWM LLC now owns 158 shares of the company’s stock valued at $48,000 after buying an additional 39 shares during the period. Finally, Steadtrust LLC boosted its holdings in shares of BeOne Medicines by 3.7% during the 2nd quarter. Steadtrust LLC now owns 1,400 shares of the company’s stock valued at $399,000 after buying an additional 50 shares in the last quarter. 48.55% of the stock is owned by institutional investors.

BeOne Medicines Company Profile

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.