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 been assigned an average recommendation of “Buy” from the seventeen ratings firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $402.1429.

Several brokerages have commented on ONC. Morgan Stanley restated an “overweight” rating on shares of BeOne Medicines in a research note on Thursday, August 6th. Truist Financial upped their price target on BeOne Medicines from $416.00 to $418.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Wells Fargo & Company started coverage on shares of BeOne Medicines in a report on Monday, May 4th. They issued an “overweight” rating and a $400.00 price target on the stock. Wolfe Research restated an “outperform” rating and issued a $370.00 price objective on shares of BeOne Medicines in a research report on Monday, August 10th. Finally, TD Cowen boosted their price objective on shares of BeOne Medicines from $424.00 to $454.00 and gave the company a “buy” rating in a research note on Thursday, August 6th.

BeOne Medicines Trading Up 1.8%

NASDAQ:ONC opened at $369.15 on Wednesday. The company has a market cap of $40.53 billion, a P/E ratio of 64.99 and a beta of 0.49. The stock’s fifty day moving average price is $308.32 and its two-hundred day moving average price is $309.63. BeOne Medicines has a 1 year low of $253.95 and a 1 year high of $385.22. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.40 and a quick ratio of 3.06.

BeOne Medicines (NASDAQ:ONC) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $2.05 earnings per share for the quarter, beating the consensus estimate 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. As a group, analysts expect that BeOne Medicines will post 8.81 EPS for the current year.

Insider Buying and Selling

In other BeOne Medicines news, CEO John Oyler sold 145,861 shares of the firm’s stock in a transaction on Tuesday, July 14th. The shares were sold at an average price of $305.95, for a total value of $44,626,172.95. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 588,705 shares of company stock valued at $192,962,347. 6.19% of the stock is owned by company insiders.

Institutional Investors Weigh In On BeOne Medicines

A number of institutional investors and hedge funds have recently made changes to their positions in ONC. BNP Paribas Financial Markets increased its position in shares of BeOne Medicines by 100.6% in the fourth quarter. BNP Paribas Financial Markets now owns 193,951 shares of the company’s stock worth $58,924,000 after purchasing an additional 97,244 shares during the last quarter. Renaissance Technologies LLC bought a new stake in BeOne Medicines during the first quarter valued at approximately $19,438,000. SEB Asset Management AB bought a new stake in BeOne Medicines during the first quarter valued at approximately $16,653,000. Rokos Capital Management LLP bought a new stake in BeOne Medicines during the first quarter valued at approximately $4,256,000. Finally, Capital International Sarl grew its stake in BeOne Medicines by 2.7% in the 4th quarter. Capital International Sarl now owns 152,515 shares of the company’s stock worth $46,336,000 after buying an additional 3,956 shares in the last quarter. Hedge funds and other institutional investors own 48.55% of the company’s stock.

About BeOne Medicines

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.