BeOne Medicines (NASDAQ:ONC) Reaches New 12-Month High - Still a Buy?

Key Points

• BeOne Medicines' stock reached a new 12-month high of $343.17, closing at $340.85, with an average consensus rating of "Buy" from analysts.
• Wall Street analysts have adjusted their price targets for BeOne Medicines, with Guggenheim setting a new target of $365.00, while the average consensus target is $330.89.
• The company reported a quarterly earnings beat with an EPS of $0.84, exceeding expectations and generating revenue of $1.32 billion, surpassing analyst predictions of $1.24 billion.

BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Get Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as $343.17 and last traded at $340.85, with a volume of 100703 shares. The stock had previously closed at $341.80.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ONC shares. Wall Street Zen downgraded BeOne Medicines from a "strong-buy" rating to a "buy" rating in a research report on Friday. Guggenheim lifted their price target on BeOne Medicines from $350.00 to $365.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. upped their price target on BeOne Medicines from $321.00 to $345.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. 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 report on Thursday, August 7th. Finally, Morgan Stanley raised their price target on BeOne Medicines from $313.00 to $330.00 and gave the company an "overweight" rating in a report on Friday, June 27th. Seven analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $330.89.

BeOne Medicines Stock Up 0.4%

The business has a fifty day moving average of $291.24 and a two-hundred day moving average of $263.19. The company has a market cap of $37.60 billion, a price-to-earnings ratio of -198.29 and a beta of 0.21. The company has a current ratio of 1.95, a quick ratio of 1.72 and a debt-to-equity ratio of 0.04.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.84 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $1.24 billion. As a group, equities analysts anticipate that BeOne Medicines Ltd. - Sponsored ADR will post -5.82 EPS for the current fiscal year.

Insider Activity

In related news, insider Xiaodong Wang sold 41,760 shares of the company's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $262.82, for a total transaction of $10,975,363.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Chan Henry Lee sold 11,013 shares of the company's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $300.45, for a total transaction of $3,308,855.85. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 194,689 shares of company stock valued at $55,338,422. Insiders own 6.62% of the company's stock.

Hedge Funds Weigh In On BeOne Medicines

A number of large investors have recently bought and sold shares of ONC. Primecap Management Co. CA bought a new position in BeOne Medicines in the second quarter worth about $1,231,720,000. Temasek Holdings Private Ltd acquired a new position in BeOne Medicines in the second quarter worth approximately $244,603,000. Marshall Wace LLP acquired a new position in BeOne Medicines in the second quarter worth approximately $113,190,000. Baird Financial Group Inc. acquired a new position in BeOne Medicines in the second quarter worth approximately $82,895,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in BeOne Medicines in the second quarter worth approximately $73,347,000. 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.

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