Citizens Jmp Issues Positive Forecast for BeOne Medicines (NASDAQ:ONC) Stock Price

BeOne Medicines (NASDAQ:ONC) had its price objective hoisted by equities researchers at Citizens Jmp from $396.00 to $405.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. Citizens Jmp’s price target indicates a potential upside of 23.65% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. Nomura upgraded BeOne Medicines to a “strong-buy” rating in a report on Monday, July 27th. JPMorgan Chase & Co. raised their price target on shares of BeOne Medicines from $415.00 to $425.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Barclays reaffirmed an “overweight” rating and issued a $407.00 price target (up from $403.00) on shares of BeOne Medicines in a report on Thursday. Wells Fargo & Company began coverage on shares of BeOne Medicines in a research note on Monday, May 4th. They set an “overweight” rating and a $400.00 price objective on the stock. Finally, Royal Bank Of Canada boosted their target price on shares of BeOne Medicines from $436.00 to $451.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 7th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, BeOne Medicines has an average rating of “Moderate Buy” and a consensus price target of $395.00.

BeOne Medicines Stock Up 1.4%

ONC opened at $327.53 on Thursday. The business’s fifty day simple moving average is $294.53 and its 200 day simple moving average is $308.67. BeOne Medicines has a 52 week low of $253.95 and a 52 week high of $385.22. The firm has a market cap of $35.94 billion, a P/E ratio of 73.27 and a beta of 0.49. The company has a quick ratio of 3.27, a current ratio of 3.64 and a debt-to-equity ratio of 0.20.

BeOne Medicines (NASDAQ:ONC) last released its earnings results on Wednesday, August 5th. The company reported $2.05 EPS for the quarter, topping the consensus estimate of $1.40 by $0.65. The firm had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.66 billion. BeOne Medicines had a net margin of 8.94% and a return on equity of 12.06%. As a group, equities research analysts anticipate that BeOne Medicines will post 5.93 EPS for the current fiscal year.

Insider Buying and Selling at BeOne Medicines

In other BeOne Medicines news, COO Xiaobin Wu sold 1,292 shares of BeOne Medicines stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $276.26, for a total value of $356,927.92. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Chan Henry Lee sold 1,044 shares of the stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $323.69, for a total value of $337,932.36. 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 345,561 shares of company stock valued at $105,625,947 over the last quarter. Company insiders own 6.19% of the company’s stock.

Hedge Funds Weigh In On BeOne Medicines

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

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.