BeOne Medicines (NASDAQ:ONC) Stock Price Expected to Rise, Citizens Jmp Analyst Says

Key Points

• Citizens JMP raised BeOne Medicines’ price target from $396 to $405 and maintained a “market outperform” rating, implying roughly 23.65% upside. Analysts collectively hold a “Moderate Buy” consensus with an average target of $395.
• BeOne Medicines reported quarterly EPS of $2.05, beating estimates of $1.40, while revenue of $1.71 billion exceeded the $1.66 billion consensus forecast.
• Insiders have sold approximately $105.6 million of company stock over the past 90 days, including a major sale by CEO John Oyler; institutional investors own 48.55% of the shares.

BeOne Medicines (NASDAQ:ONC - Get Free Report) had its target price upped by research analysts at Citizens Jmp from $396.00 to $405.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "market outperform" rating on the stock. Citizens Jmp's target price suggests a potential upside of 23.65% from the company's current price.

Several other research firms have also recently issued reports on ONC. Guggenheim upped their price objective on BeOne Medicines from $410.00 to $420.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. Zacks Research lowered BeOne Medicines from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 3rd. Nomura upgraded BeOne Medicines to a "strong-buy" rating in a research note on Monday, July 27th. Royal Bank Of Canada upped their price target on BeOne Medicines from $436.00 to $451.00 and gave the company an "outperform" rating in a report on Tuesday, July 7th. Finally, Wells Fargo & Company assumed coverage on shares of BeOne Medicines in a research note on Monday, May 4th. They issued an "overweight" rating and a $400.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $395.00.

BeOne Medicines Price Performance

BeOne Medicines stock opened at $327.53 on Thursday. The stock has a market cap of $35.94 billion, a P/E ratio of 73.27 and a beta of 0.49. The company has a fifty day simple moving average of $294.53 and a 200-day simple moving average of $308.67. BeOne Medicines has a 12-month low of $253.95 and a 12-month high of $385.22. The company has a current ratio of 3.64, a quick ratio of 3.27 and a debt-to-equity ratio of 0.20.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $2.05 EPS for the quarter, beating the consensus estimate of $1.40 by $0.65. BeOne Medicines had a return on equity of 12.06% and a net margin of 8.94%.The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.66 billion. Equities analysts expect that BeOne Medicines will post 5.93 EPS for the current fiscal year.

Insider Activity

In other news, CEO John Oyler sold 145,861 shares of BeOne Medicines stock in a transaction dated Tuesday, July 14th. The stock was sold at an average price of $305.95, for a total transaction of $44,626,172.95. Following the sale, the chief executive officer owned 8,122 shares in the company, valued at approximately $2,484,925.90. The trade was a 94.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Xiaobin Wu sold 1,484 shares of the business's stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $269.37, for a total value of $399,745.08. Following the completion of the sale, the chief operating officer directly owned 40 shares of the company's stock, valued at $10,774.80. The trade was a 97.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 345,561 shares of company stock worth $105,625,947. Corporate insiders own 6.19% of the company's stock.

Institutional Investors Weigh In On BeOne Medicines

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ONC. EFG International AG purchased a new position in shares of BeOne Medicines during the fourth quarter worth approximately $25,000. Leonteq Securities AG purchased a new stake in BeOne Medicines in the 4th quarter valued at $35,000. Daiwa Securities Group Inc. purchased a new stake in BeOne Medicines in the 2nd quarter valued at $35,000. CWM LLC boosted its stake in BeOne Medicines by 32.8% during the 4th quarter. CWM LLC now owns 158 shares of the company's stock worth $48,000 after purchasing an additional 39 shares during the period. Finally, Group One Trading LLC acquired a new stake in BeOne Medicines during the 4th quarter worth $61,000. Hedge funds and other institutional investors 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. The company was founded by Xiao Dong Wang and John V. Oyler on October 28, 2010 and is headquartered in Basel, Switzerland.

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