BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC) Receives $330.89 Consensus PT from Brokerages

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.

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

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

Insider Buying and Selling at BeOne Medicines

In other BeOne Medicines news, CEO John Oyler sold 27,802 shares of the business's stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $253.38, for a total transaction of $7,044,470.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Chan Henry Lee sold 11,013 shares of the company's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $300.45, for a total value of $3,308,855.85. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 203,730 shares of company stock worth $57,617,229. Insiders own 6.62% of the company's stock.

Institutional Investors Weigh In On BeOne Medicines

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. QRG Capital Management Inc. purchased a new position in BeOne Medicines during the second quarter valued at approximately $367,000. Venturi Wealth Management LLC bought a new stake in shares of BeOne Medicines during the 2nd quarter valued at $371,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of BeOne Medicines during the 2nd quarter valued at $926,000. Farther Finance Advisors LLC purchased a new position in shares of BeOne Medicines during the 2nd quarter valued at $39,000. Finally, Slow Capital Inc. bought a new position in BeOne Medicines in the 2nd quarter worth $4,377,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

BeOne Medicines Stock Performance

Shares of ONC stock traded up $8.09 during trading hours on Wednesday, reaching $306.05. The company had a trading volume of 360,221 shares, compared to its average volume of 328,635. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.72 and a current ratio of 1.95. The business has a fifty day moving average price of $285.26 and a 200-day moving average price of $260.54. BeOne Medicines has a one year low of $170.99 and a one year high of $330.63. The firm has a market cap of $33.54 billion, a PE ratio of -176.91 and a beta of 0.21.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last issued 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. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.24 billion. BeOne Medicines had a negative net margin of 3.89% and a negative return on equity of 1.22%. Sell-side analysts predict that BeOne Medicines will post -5.82 earnings per share for the current fiscal year.

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.