BeOne Medicines (NASDAQ:ONC) Reaches New 12-Month High - Time to Buy?

Key Points

• BeOne Medicines Ltd. shares hit a new 52-week high at $318.20, showcasing significant performance in the stock market with an increase from a previous close of $309.69.
• Analysts are optimistic about BeOne Medicines, with multiple firms raising their price targets; Royal Bank of Canada set a target of $364.00 while Guggenheim increased theirs to $365.00.
• In the latest earnings report, BeOne Medicines reported earnings per share of $0.84, exceeding expectations, with revenues of $1.32 billion for the quarter.

Shares of BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Get Free Report) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $318.20 and last traded at $318.20, with a volume of 1634 shares traded. The stock had previously closed at $309.69.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Royal Bank Of Canada increased their target price on shares of BeOne Medicines from $349.00 to $364.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Guggenheim lifted their target price on shares of BeOne Medicines from $350.00 to $365.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. TD Securities reissued a "buy" rating and issued a $334.00 price target on shares of BeOne Medicines in a report on Thursday, April 24th. Wall Street Zen raised shares of BeOne Medicines from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Finally, Morgan Stanley lifted their target price on shares of BeOne Medicines from $313.00 to $330.00 and gave the stock an "overweight" rating in a report on Friday, June 27th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, BeOne Medicines has an average rating of "Buy" and a consensus target price 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 1.72. The firm has a 50-day moving average of $273.31. The stock has a market cap of $34.74 billion, a price-to-earnings ratio of -183.22 and a beta of 0.27.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.36. BeOne Medicines had a negative net margin of 3.89% and a negative return on equity of 1.22%. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.24 billion. On average, analysts forecast that BeOne Medicines Ltd. - Sponsored ADR will post -5.82 earnings per share for the current fiscal year.

Insider Buying and Selling at BeOne Medicines

In other BeOne Medicines news, CEO John Oyler sold 27,802 shares of the firm's stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $253.38, for a total transaction of $7,044,470.76. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Xiaobin Wu sold 1,934 shares of the business's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $253.15, for a total transaction of $489,592.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 102,923 shares of company stock worth $26,960,687. Company insiders own 6.62% of the company's stock.

Institutional Investors Weigh In On BeOne Medicines

Several institutional investors and hedge funds have recently added to or reduced their stakes in ONC. Caitong International Asset Management Co. Ltd purchased a new stake in shares of BeOne Medicines in the second quarter valued at about $28,000. Daiwa Securities Group Inc. purchased a new stake in shares of BeOne Medicines during the second quarter worth approximately $35,000. Farther Finance Advisors LLC purchased a new position in BeOne Medicines in the second quarter valued at approximately $39,000. Signaturefd LLC purchased a new position in BeOne Medicines in the second quarter valued at approximately $49,000. Finally, Parallel Advisors LLC purchased a new position in shares of BeOne Medicines during the second quarter worth approximately $59,000. Institutional investors and hedge funds own 48.55% of the company's stock.

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.

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