BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC) Given Average Recommendation of "Buy" by Brokerages

Key Points

• Analysts remain bullish on BeOne Medicines: Seventeen brokerages give the stock a consensus “Buy” rating, with an average 12-month price target of $402.14.
• Quarterly results exceeded expectations: BeOne reported earnings of $2.05 per share versus the $1.40 consensus estimate, while revenue reached $1.71 billion compared with expectations of $1.66 billion.
• ONC shares opened at $359.27, up slightly, with a market capitalization of approximately $39.42 billion; institutional investors own 48.55% of the stock, while insiders have sold shares recently to cover tax obligations on vested equity awards.

Shares of BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Get Free Report) have received a consensus recommendation of "Buy" from the seventeen brokerages that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, twelve have issued a buy recommendation and three have issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $402.1429.

A number of research firms have recently commented on ONC. Nomura raised shares of BeOne Medicines to a "strong-buy" rating in a research note on Monday, July 27th. Guggenheim raised their price target on shares of BeOne Medicines from $420.00 to $430.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. TD Cowen lifted their price objective on BeOne Medicines from $424.00 to $454.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. JPMorgan Chase & Co. boosted their price objective on BeOne Medicines from $415.00 to $425.00 and gave the stock an "overweight" rating in a research note on Thursday, July 23rd. Finally, Wall Street Zen upgraded BeOne Medicines from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 18th.

BeOne Medicines Trading Up 0.1%

Shares of NASDAQ:ONC opened at $359.27 on Wednesday. BeOne Medicines has a 1 year low of $253.95 and a 1 year high of $385.22. The firm has a market capitalization of $39.42 billion, a price-to-earnings ratio of 63.25 and a beta of 0.49. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.40 and a quick ratio of 3.06. The business's 50 day moving average price is $299.80 and its 200-day moving average price is $308.98.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last issued its quarterly 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 company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.66 billion. BeOne Medicines had a net margin of 10.70% and a return on equity of 14.23%. On average, equities research analysts forecast that BeOne Medicines will post 7.3 earnings per share for the current fiscal year.

Insider Transactions at BeOne Medicines

In other BeOne Medicines news, CFO Aaron Rosenberg sold 1,157 shares of BeOne Medicines stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $312.71, for a total transaction of $361,805.47. The sale was disclosed in a legal filing 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 company's stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $323.69, for a total transaction of $337,932.36. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 345,229 shares of company stock valued at $105,522,788 over the last ninety days. Company insiders own 6.19% of the company's stock.

Institutional Trading of BeOne Medicines

Several large investors have recently bought and sold shares of ONC. Cetera Investment Advisers acquired a new position in shares of BeOne Medicines during the 2nd quarter worth approximately $455,000. Rhumbline Advisers acquired a new stake in shares of BeOne Medicines in the second quarter valued at approximately $275,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of BeOne Medicines in the second quarter valued at approximately $505,000. Invesco Ltd. purchased a new position in BeOne Medicines during the second quarter worth approximately $422,000. Finally, EverSource Wealth Advisors LLC purchased a new position in BeOne Medicines during the second quarter worth approximately $68,000. 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.

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