BeOne Medicines (NASDAQ:ONC) Reaches New 52-Week High - Here's Why

Key Points

• BeOne Medicines' stock reached a new **52-week high** of **$335.20** during trading, significantly up from its previous close of **$306.05**.
• Multiple brokerages have upgraded their price targets for BeOne Medicines, with Morgan Stanley adjusting their target up to **$330.00** and Royal Bank of Canada to **$364.00**, reflecting strong analyst confidence.
• The company reported **$1.32 billion** in revenue for the last quarter, surpassing expectations of **$1.24 billion**, and achieved earnings per share of **$0.84**, beating the consensus estimate of **$0.48**.

BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $335.20 and last traded at $335.20, with a volume of 27393 shares. The stock had previously closed at $306.05.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ONC. Morgan Stanley upped their target price on shares of BeOne Medicines from $313.00 to $330.00 and gave the company an "overweight" rating in a research note on Friday, June 27th. Royal Bank Of Canada upped their target price on shares of BeOne Medicines from $349.00 to $364.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. upped their target price on shares of BeOne Medicines from $321.00 to $345.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Wall Street Zen upgraded shares of BeOne Medicines from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Finally, Guggenheim upped their target price on shares of BeOne Medicines from $350.00 to $365.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Seven analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $330.89.

BeOne Medicines Trading Up 6.9%

The company has a current ratio of 1.95, a quick ratio of 1.72 and a debt-to-equity ratio of 0.04. The business's 50-day moving average is $285.26 and its two-hundred day moving average is $260.54. The firm has a market cap of $35.84 billion, a P/E ratio of -189.03 and a beta of 0.21.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last announced its quarterly earnings data 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 net margin of 3.89% and a negative return on equity of 1.22%. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.24 billion. As a group, analysts expect 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 company's stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $253.38, for a total value of $7,044,470.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Chan Henry Lee sold 11,013 shares of the company's stock in a transaction dated 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 quarter, insiders have sold 203,730 shares of company stock worth $57,617,229. 6.62% of the stock is owned by company insiders.

Institutional Trading of BeOne Medicines

A number of institutional investors have recently made changes to their positions in ONC. Parallel Advisors LLC acquired a new stake in shares of BeOne Medicines in the 2nd quarter worth approximately $59,000. Aaron Wealth Advisors LLC acquired a new stake in BeOne Medicines during the second quarter valued at approximately $200,000. Farther Finance Advisors LLC acquired a new stake in BeOne Medicines during the second quarter valued at approximately $39,000. Avanza Fonder AB acquired a new stake in BeOne Medicines during the second quarter valued at approximately $199,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in BeOne Medicines during the second quarter valued at approximately $3,491,000. 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.

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