BeOne Medicines (NASDAQ:ONC) Earns "Buy" Rating from Truist Financial

Key Points

• Truist Financial reiterated a "Buy" rating on BeOne Medicines with a $413 price target (up from $411), implying about a 32.46% upside from the current share price.
• The consensus from analysts is a "Moderate Buy" with an average price target of $391 and a breakdown of 1 Strong Buy, 10 Buy, 2 Hold and 1 Sell ratings.
• Shares traded at $311.80 (market cap $34.21B) with a high P/E of 123.88; the company reported quarterly EPS of $0.25 and revenue of $1.51B most recently.

BeOne Medicines (NASDAQ:ONC - Get Free Report)'s stock had its "buy" rating restated by investment analysts at Truist Financial in a research note issued to investors on Thursday,Benzinga reports. They presently have a $413.00 price objective on the stock, up from their prior price objective of $411.00. Truist Financial's price target would indicate a potential upside of 32.46% from the stock's current price.

Other analysts have also issued reports about the company. Jefferies Financial Group lowered BeOne Medicines from a "buy" rating to a "hold" rating and reduced their price objective for the company from $420.00 to $290.00 in a research note on Monday, March 16th. Sanford C. Bernstein upgraded shares of BeOne Medicines from a "hold" rating to an "outperform" rating and set a $414.00 price target on the stock in a research note on Monday, January 12th. Royal Bank Of Canada upped their price objective on shares of BeOne Medicines from $417.00 to $425.00 and gave the stock an "outperform" rating in a research report on Thursday, February 26th. Morgan Stanley restated an "overweight" rating and issued a $395.00 target price on shares of BeOne Medicines in a research report on Thursday. Finally, Guggenheim reiterated a "buy" rating and set a $420.00 price target on shares of BeOne Medicines in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $391.00.

BeOne Medicines Stock Performance

ONC traded down $1.52 during trading on Thursday, hitting $311.80. The stock had a trading volume of 87,529 shares, compared to its average volume of 250,689. The company has a 50 day moving average price of $302.44 and a 200-day moving average price of $322.00. BeOne Medicines has a one year low of $218.31 and a one year high of $385.22. The firm has a market cap of $34.21 billion, a price-to-earnings ratio of 123.88 and a beta of 0.50. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.41 and a quick ratio of 3.08.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last released its quarterly earnings results on Wednesday, April 1st. The company reported $0.25 earnings per share for the quarter. The company had revenue of $1.51 billion during the quarter. BeOne Medicines had a net margin of 5.37% and a return on equity of 10.70%. As a group, research analysts predict that BeOne Medicines will post 5.44 EPS for the current year.

Insider Buying and Selling at BeOne Medicines

In other news, SVP Chan Henry Lee sold 332 shares of the firm's stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $311.59, for a total transaction of $103,447.88. Following the completion of the transaction, the senior vice president directly owned 318,370 shares in the company, valued at $99,200,908.30. This trade represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 6.62% of the company's stock.

Institutional Trading of BeOne Medicines

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. KBC Group NV boosted its position in shares of BeOne Medicines by 5.6% during the first quarter. KBC Group NV now owns 9,488 shares of the company's stock valued at $2,818,000 after buying an additional 502 shares during the last quarter. SEB Asset Management AB bought a new position in shares of BeOne Medicines during the first quarter valued at about $16,653,000. AIA Group Ltd grew its position in BeOne Medicines by 15.1% in the 1st quarter. AIA Group Ltd now owns 26,077 shares of the company's stock worth $7,744,000 after purchasing an additional 3,430 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of BeOne Medicines by 102.1% in the first quarter. Jennison Associates LLC now owns 154,465 shares of the company's stock valued at $45,871,000 after acquiring an additional 78,027 shares in the last quarter. Finally, Assetmark Inc. grew its stake in BeOne Medicines by 19.2% in the 1st quarter. Assetmark Inc. now owns 29,569 shares of the company's stock valued at $8,781,000 after purchasing an additional 4,755 shares during the period. 48.55% of the stock is owned by institutional investors.

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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