BeOne Medicines (NASDAQ:ONC) Reaches New 52-Week High - Time to Buy?

Key Points

• BeOne Medicines reached a new 52-week high of $354.15 amidst trading, significantly increasing from a previous close of $335.16.
• Multiple analysts have upgraded their target prices for BeOne Medicines, with some raising the target to as high as $365.00, indicating a generally positive outlook on the stock.
• Despite positive earnings results, BeOne Medicines has seen significant insider selling, totaling over $54 million in the last three months, which may raise concerns among investors.

BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $354.15 and last traded at $353.68, with a volume of 51906 shares changing hands. The stock had previously closed at $335.16.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ONC shares. JPMorgan Chase & Co. boosted their target price on shares of BeOne Medicines from $321.00 to $345.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. Wall Street Zen lowered BeOne Medicines from a "strong-buy" rating to a "buy" rating in a report on Friday, September 5th. Guggenheim increased 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. Morgan Stanley upped their price objective on shares of BeOne Medicines from $313.00 to $330.00 and gave the stock an "overweight" rating in a research report on Friday, June 27th. Finally, Royal Bank Of Canada upped their target price on BeOne Medicines from $349.00 to $364.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $336.30.

BeOne Medicines Trading Up 5.2%

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 fifty day simple moving average of $316.54 and a two-hundred day simple moving average of $272.64. The firm has a market capitalization of $38.63 billion, a P/E ratio of -203.72 and a beta of 0.30.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.84 EPS 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 firm had revenue of $1.32 billion for the quarter, compared to analysts' expectations of $1.24 billion. On average, equities research analysts anticipate 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, insider Lai Wang sold 5,000 shares of BeOne Medicines stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $350.06, for a total transaction of $1,750,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Titus B. Ball sold 122 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $326.76, for a total transaction of $39,864.72. The disclosure for this sale can be found here. Insiders have sold a total of 181,315 shares of company stock worth $54,839,498 in the last three months. 6.62% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BeOne Medicines

Institutional investors have recently added to or reduced their stakes in the business. Anchor Investment Management LLC bought a new stake in shares of BeOne Medicines during the 2nd quarter valued at about $26,000. Caitong International Asset Management Co. Ltd bought a new position in shares of BeOne Medicines in the 2nd quarter worth $28,000. Daiwa Securities Group Inc. purchased a new stake in shares of BeOne Medicines during the 2nd quarter valued at $35,000. Farther Finance Advisors LLC bought a new stake in shares of BeOne Medicines during the 2nd quarter worth $39,000. Finally, Signaturefd LLC purchased a new position in BeOne Medicines in the second quarter worth $49,000. 48.55% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.