BeOne Medicines (NASDAQ:ONC) Sets New 12-Month High - What's Next?

Key Points

• BeOne Medicines recently reached a new 52-week high, trading at $309.25, with a current last traded price of $307.02.
• Multiple analysts have raised their price targets for BeOne Medicines, with estimates ranging from $327.56 to $350.00, indicating a consensus rating of "Buy."
• The company's last earnings report showed a significant earnings beat, reporting $1.22 earnings per share compared to analysts' expectations of a loss of $0.71.

BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $309.25 and last traded at $307.02, with a volume of 96481 shares traded. The stock had previously closed at $304.30.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Royal Bank Of Canada upped their price target on BeOne Medicines from $349.00 to $364.00 and gave the stock an "outperform" rating in a research note on Thursday. JPMorgan Chase & Co. upped their price target on BeOne Medicines from $321.00 to $345.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Morgan Stanley upped their price target on BeOne Medicines from $313.00 to $330.00 and gave the stock an "overweight" rating in a research note on Friday, June 27th. Wall Street Zen upgraded BeOne Medicines from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Finally, Guggenheim increased their price objective on BeOne Medicines from $350.00 to $365.00 and gave the company a "buy" rating in a research note on Thursday. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $330.89.

BeOne Medicines Price Performance

The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.71. The company has a market cap of $31.58 billion, a price-to-earnings ratio of -166.58 and a beta of 0.27. The firm's 50 day simple moving average is $269.66.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $1.32 billion for the quarter, compared to analysts' expectations of $1.24 billion. Equities research analysts predict that BeOne Medicines Ltd. - Sponsored ADR will post -5.82 earnings per share for the current year.

Insider Activity

In related news, insider Xiaodong Wang sold 2,007 shares of the business's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $265.50, for a total transaction of $532,858.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Chan Henry Lee sold 920 shares of the business's stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $304.60, for a total value of $280,232.00. The disclosure for this sale can be found here. Insiders have sold 144,683 shares of company stock valued at $36,294,047 over the last 90 days. 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 business. Cetera Investment Advisers purchased a new position in shares of BeOne Medicines during the second quarter worth about $455,000. Creative Planning purchased a new position in shares of BeOne Medicines during the second quarter worth about $1,448,000. Fiera Capital Corp purchased a new position in shares of BeOne Medicines during the second quarter worth about $5,062,000. Candriam S.C.A. purchased a new position in shares of BeOne Medicines during the second quarter worth about $67,852,000. Finally, Geode Capital Management LLC purchased a new position in shares of BeOne Medicines during the second quarter worth about $8,622,000. Hedge funds and other institutional investors own 48.55% of the company's stock.

BeOne Medicines Company Profile

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.