BeOne Medicines (NASDAQ:ONC) Issues Earnings Results

Key Points

• BeOne Medicines reported earnings of $0.84 EPS for the quarter, exceeding analysts' expectations by $0.36 and also surpassing revenue expectations with $1.32 billion in revenue.
• Despite positive earnings results, BeOne Medicines' stock declined by 0.1%, with the stock currently valued at $298.29 and a market capitalization of $32.69 billion.
• Multiple brokerages have raised their price targets for BeOne Medicines, with JPMorgan Chase increasing its target from $321.00 to $345.00 and eight analysts currently rating the stock as a "buy."

BeOne Medicines (NASDAQ:ONC - Get Free Report) announced its quarterly earnings data on Wednesday. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.48 by $0.36, Zacks reports. BeOne Medicines had a negative net margin of 3.89% and a negative return on equity of 1.22%. The firm had revenue of $1.32 billion during the quarter, compared to analysts' expectations of $1.24 billion.

BeOne Medicines Stock Performance

BeOne Medicines stock traded down $2.29 during trading on Tuesday, hitting $287.46. The company's stock had a trading volume of 167,316 shares, compared to its average volume of 436,852. The stock has a fifty day moving average price of $270.54. BeOne Medicines has a 1-year low of $170.99 and a 1-year high of $313.29. The stock has a market capitalization of $31.51 billion, a PE ratio of -166.16 and a beta of 0.27. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.72.

Insider Transactions at BeOne Medicines

In other news, insider Xiaodong Wang sold 2,007 shares of the stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $265.50, for a total transaction of $532,858.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO John Oyler sold 27,802 shares of the business's stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $253.38, for a total transaction of $7,044,470.76. The disclosure for this sale can be found here. Insiders sold 102,923 shares of company stock worth $26,960,687 in the last quarter. 6.62% of the stock is currently owned by corporate insiders.

Institutional Trading of BeOne Medicines

A hedge fund recently bought a new stake in BeOne Medicines stock. Rhumbline Advisers acquired a new stake in BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,136 shares of the company's stock, valued at approximately $275,000. Institutional investors and hedge funds own 48.55% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Guggenheim increased their price objective 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. TD Securities reissued a "buy" rating and set a $334.00 price objective on shares of BeOne Medicines in a research note on Thursday, April 24th. JPMorgan Chase & Co. upped their target price on BeOne Medicines from $321.00 to $345.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Morgan Stanley increased their target price on BeOne Medicines from $313.00 to $330.00 and gave the company an "overweight" rating in a report on Friday, June 27th. Finally, Wall Street Zen upgraded BeOne Medicines from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, BeOne Medicines presently has a consensus rating of "Buy" and an average price target of $330.89.

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.