BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC) Stock Has Consensus Target Price of $402.71

Key Points

• Analyst sentiment is bullish: BeOne Medicines has a consensus “Buy” rating from 17 analysts, with an average 12-month price target of $402.71 versus a share price of $365.94.
• Quarterly results exceeded expectations: The company reported earnings of $2.05 per share, beating estimates of $1.40, while revenue of $1.71 billion topped the $1.66 billion consensus forecast.
• Insiders have been selling shares: Insiders sold 631,860 shares worth approximately $210.7 million over the past three months, while institutional investors own 48.55% of the company.

BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Get Free Report) has earned a consensus recommendation of "Buy" from the seventeen ratings firms that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $402.71.

A number of analysts have recently weighed in on ONC shares. TD Cowen raised their price target on shares of BeOne Medicines from $424.00 to $454.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Wolfe Research reiterated an "outperform" rating and set a $370.00 price objective on shares of BeOne Medicines in a research note on Monday, August 10th. Weiss Ratings raised shares of BeOne Medicines from a "sell (d-)" rating to a "hold (c+)" rating in a research report on Tuesday, September 22nd. Royal Bank Of Canada decreased their target price on shares of BeOne Medicines from $451.00 to $450.00 and set an "outperform" rating for the company in a research report on Thursday, August 6th. Finally, Wall Street Zen upgraded shares of BeOne Medicines from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 18th.

BeOne Medicines Trading Up 0.2%

Shares of NASDAQ ONC opened at $365.94 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.40 and a quick ratio of 3.06. The stock has a market capitalization of $40.18 billion, a P/E ratio of 64.43 and a beta of 0.51. BeOne Medicines has a 1-year low of $253.95 and a 1-year high of $385.22. The business has a fifty day moving average price of $352.67 and a 200 day moving average price of $315.41.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $2.05 earnings per share for the quarter, beating analysts' consensus estimates of $1.40 by $0.65. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.66 billion. BeOne Medicines had a return on equity of 14.23% and a net margin of 10.70%. Equities research analysts expect that BeOne Medicines will post 8.81 EPS for the current fiscal year.

Insider Transactions at BeOne Medicines

In related news, insider Titus B. Ball sold 132 shares of the business's stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $355.86, for a total transaction of $46,973.52. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Xiaodong Wang sold 31,028 shares of the company's stock in a transaction dated Monday, September 28th. The shares were sold at an average price of $364.79, for a total value of $11,318,704.12. Following the transaction, the insider directly owned 31,028 shares in the company, valued at $11,318,704.12. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 631,860 shares of company stock worth $210,652,073. 6.19% of the stock is currently owned by corporate insiders.

Institutional Trading of BeOne Medicines

Several large investors have recently bought and sold shares of the stock. Capital International Investors raised its holdings in shares of BeOne Medicines by 1.3% in the fourth quarter. Capital International Investors now owns 5,113,866 shares of the company's stock worth $1,553,909,000 after buying an additional 67,808 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of BeOne Medicines by 7.0% during the first quarter. Bank of America Corp DE now owns 405,273 shares of the company's stock valued at $120,354,000 after buying an additional 26,441 shares during the last quarter. Baird Financial Group Inc. grew its holdings in shares of BeOne Medicines by 5.5% during the second quarter. Baird Financial Group Inc. now owns 368,978 shares of the company's stock valued at $105,148,000 after buying an additional 19,327 shares during the last quarter. Candriam S.C.A. increased its position in shares of BeOne Medicines by 31.7% in the 1st quarter. Candriam S.C.A. now owns 259,731 shares of the company's stock valued at $77,132,000 after acquiring an additional 62,470 shares during the period. Finally, First Trust Advisors LP increased its position in shares of BeOne Medicines by 91.9% in the 1st quarter. First Trust Advisors LP now owns 241,426 shares of the company's stock valued at $71,696,000 after acquiring an additional 115,601 shares during the period. Hedge funds and other institutional investors own 48.55% of the company's stock.

About BeOne Medicines

BeOne Medicines Ltd. NASDAQ: ONC is a global oncology company focused on discovering, developing, manufacturing and commercializing medicines for people with cancer. The company operates across the research and development, clinical testing, regulatory and commercial stages of the biopharmaceutical industry, with an emphasis on treatments for blood cancers and solid tumors.

Its marketed portfolio includes BRUKINSA (zanubrutinib), a Bruton's tyrosine kinase inhibitor used to treat several B-cell malignancies, and TEVIMBRA (tislelizumab), an immunotherapy targeting the PD-1 pathway for certain cancers.

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