BeOne Medicines (NASDAQ:ONC) Hits New 1-Year High - Still a Buy?

Key Points

• BeOne Medicines shares reached a new 52-week high of $308.87 during trading, indicating strong market interest.
• Equities research analysts have increased their price targets for BeOne Medicines, with multiple firms rating the stock as a "buy" and consensus price target set at $327.56.
• The company reported a positive earnings per share of $1.22, significantly exceeding analysts' estimates, amid notable insider selling activities.

BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Get Free Report) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $308.87 and last traded at $301.40, with a volume of 197735 shares changing hands. The stock had previously closed at $294.51.

Wall Street Analyst Weigh In

A number of analysts recently commented on ONC shares. JPMorgan Chase & Co. increased their price objective on BeOne Medicines from $321.00 to $345.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Guggenheim increased their price objective on BeOne Medicines from $348.00 to $350.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Morgan Stanley increased their price objective on BeOne Medicines from $313.00 to $330.00 and gave the company an "overweight" rating in a research note on Friday, June 27th. TD Securities reaffirmed a "buy" rating and set a $334.00 price objective on shares of BeOne Medicines in a research note on Thursday, April 24th. Finally, Royal Bank Of Canada increased their price objective on BeOne Medicines from $311.00 to $349.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, BeOne Medicines presently has a consensus rating of "Buy" and a consensus price target of $327.56.

BeOne Medicines Trading Down 1.7%

The business has a 50 day moving average price of $262.84. The company has a quick ratio of 1.71, a current ratio of 1.96 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $32.46 billion, a PE ratio of -79.61 and a beta of 0.28.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.71) by $1.93. BeOne Medicines had a negative return on equity of 7.55% and a negative net margin of 9.40%. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.12 billion. Research analysts predict that BeOne Medicines Ltd. - Sponsored ADR will post -5.82 EPS for the current year.

Insider Transactions at BeOne Medicines

In other news, insider Xiaodong Wang sold 2,007 shares of BeOne Medicines stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $265.50, for a total value of $532,858.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Xiaobin Wu sold 1,363 shares of BeOne Medicines stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $260.00, for a total value of $354,380.00. The disclosure for this sale can be found here. Insiders sold 143,493 shares of company stock worth $35,948,388 in the last quarter. 6.62% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BeOne Medicines

Several hedge funds and other institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd acquired a new position in shares of BeOne Medicines in the 2nd quarter valued at about $28,000. Farther Finance Advisors LLC acquired a new position in shares of BeOne Medicines in the 2nd quarter valued at about $39,000. Signaturefd LLC acquired a new position in shares of BeOne Medicines in the 2nd quarter valued at about $49,000. Parallel Advisors LLC acquired a new position in shares of BeOne Medicines in the 2nd quarter valued at about $59,000. Finally, FNY Investment Advisers LLC acquired a new position in shares of BeOne Medicines in the 2nd quarter valued at about $121,000. 48.55% of the stock is owned by institutional investors and hedge funds.

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.