BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC) Receives Average Rating of "Buy" from Analysts

Key Points

• BeOne Medicines Ltd. has received a consensus rating of "Buy" from seven research firms, with an average 1-year price target of approximately $330.89.
• The company reported $0.84 earnings per share for the latest quarter, surpassing analysts' expectations by $0.36, and achieved revenues of $1.32 billion.
• Insiders have sold substantial amounts of stock recently, including a transaction where about 41,760 shares were sold at an average price of $262.82, totaling over $10.9 million.

Shares of BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Get Free Report) have been given a consensus rating of "Buy" by the seven research firms that are presently covering the company, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have covered the stock in the last year is $330.8889.

A number of research firms recently commented on ONC. Wall Street Zen raised BeOne Medicines from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 9th. Morgan Stanley boosted their price target on BeOne Medicines from $313.00 to $330.00 and gave the stock an "overweight" rating in a report on Friday, June 27th. Royal Bank Of Canada boosted their price target on BeOne Medicines from $349.00 to $364.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Guggenheim boosted their price target on BeOne Medicines from $350.00 to $365.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Finally, JPMorgan Chase & Co. boosted their price target on BeOne Medicines from $321.00 to $345.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th.

BeOne Medicines Trading Up 0.1%

BeOne Medicines stock opened at $308.91 on Wednesday. The business has a 50-day simple moving average of $281.26 and a two-hundred day simple moving average of $258.11. The company has a market cap of $33.86 billion, a P/E ratio of -178.56 and a beta of 0.27. BeOne Medicines has a 52-week low of $170.99 and a 52-week high of $330.63. The company has a quick ratio of 1.72, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.84 earnings per share for the quarter, beating analysts' consensus estimates of $0.48 by $0.36. BeOne Medicines had a negative return on equity of 1.22% and a negative net margin of 3.89%.The firm had revenue of $1.32 billion for the quarter, compared to analysts' expectations of $1.24 billion. Analysts predict that BeOne Medicines will post -5.82 EPS for the current year.

Insider Activity

In other news, insider Xiaodong Wang sold 41,760 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $262.82, for a total transaction of $10,975,363.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Lai Wang sold 4,041 shares of the company's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $302.49, for a total value of $1,222,362.09. Following the completion of the transaction, the insider directly owned 259 shares in the company, valued at $78,344.91. This trade represents a 93.98% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 203,730 shares of company stock worth $57,617,229. Company insiders own 6.62% of the company's stock.

Institutional Investors Weigh In On BeOne Medicines

Institutional investors have recently added to or reduced their stakes in the stock. Anchor Investment Management LLC purchased a new stake in BeOne Medicines in the second quarter valued at about $26,000. Caitong International Asset Management Co. Ltd purchased a new stake in BeOne Medicines in the second quarter valued at about $28,000. Daiwa Securities Group Inc. purchased a new stake in BeOne Medicines in the second quarter valued at about $35,000. Farther Finance Advisors LLC acquired a new position in shares of BeOne Medicines in the second quarter valued at about $39,000. Finally, Signaturefd LLC acquired a new position in shares of BeOne Medicines in the second quarter valued at about $49,000. 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.

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