BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC) Stock Rated "Buy" by Wall Street Analysts

Key Points

• Analysts maintain a bullish outlook: Seventeen brokerages give BeOne Medicines a consensus “Buy” rating, with an average 12-month price target of $407.07.
• Recent results exceeded expectations: The company reported quarterly EPS of $2.05 versus the $1.40 consensus estimate, while revenue reached $1.71 billion, ahead of forecasts.
• Shares opened at $377.63, near their 52-week high of $388.66; insiders have sold approximately $124.3 million of stock over the past quarter, while institutional investors own 48.55% of the company.

BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Get Free Report) has been given a consensus rating of "Buy" by the seventeen brokerages that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold recommendation, thirteen have issued a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $407.07.

ONC has been the subject of a number of recent analyst reports. Wolfe Research reaffirmed an "outperform" rating and set a $370.00 price target on shares of BeOne Medicines in a report on Monday, August 10th. Morgan Stanley reissued an "overweight" rating and issued a $425.00 price objective on shares of BeOne Medicines in a research note on Friday, October 16th. Nomura upgraded BeOne Medicines to a "strong-buy" rating in a report on Monday, July 27th. TD Cowen raised their target price on BeOne Medicines from $424.00 to $454.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Finally, Truist Financial raised their target price on BeOne Medicines from $418.00 to $420.00 and gave the company a "buy" rating in a research note on Wednesday, October 7th.

BeOne Medicines Stock Performance

NASDAQ ONC opened at $377.63 on Monday. The firm has a market cap of $41.46 billion, a price-to-earnings ratio of 66.48 and a beta of 0.61. The company has a 50 day moving average of $362.82 and a 200-day moving average of $324.53. The company has a current ratio of 3.40, a quick ratio of 3.06 and a debt-to-equity ratio of 0.17. BeOne Medicines has a 1-year low of $253.95 and a 1-year high of $388.66.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.40 by $0.65. The company had revenue of $1.71 billion during the quarter, compared to analysts' expectations of $1.66 billion. BeOne Medicines had a net margin of 10.70% and a return on equity of 14.23%. On average, equities analysts forecast that BeOne Medicines will post 8.99 earnings per share for the current fiscal year.

Insider Activity

In other BeOne Medicines news, insider Xiaodong Wang sold 31,027 shares of the business's stock in a transaction dated Tuesday, October 13th. The shares were sold at an average price of $350.99, for a total value of $10,890,166.73. Following the completion of the transaction, the insider directly owned 31,027 shares of the company's stock, valued at approximately $10,890,166.73. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Xiaobin Wu sold 280 shares of the company's stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $380.00, for a total transaction of $106,400.00. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 347,546 shares of company stock worth $124,285,659. 6.19% of the stock is currently owned by insiders.

Institutional Trading of BeOne Medicines

Several hedge funds have recently modified their holdings of ONC. Mather Group LLC. increased its holdings in shares of BeOne Medicines by 192.0% in the third quarter. Mather Group LLC. now owns 73 shares of the company's stock valued at $27,000 after purchasing an additional 48 shares in the last quarter. GAMMA Investing LLC raised its position in BeOne Medicines by 39.5% in the 3rd quarter. GAMMA Investing LLC now owns 120 shares of the company's stock worth $44,000 after purchasing an additional 34 shares during the last quarter. Parallel Advisors LLC lifted its holdings in BeOne Medicines by 24.0% during the 1st quarter. Parallel Advisors LLC now owns 351 shares of the company's stock worth $104,000 after buying an additional 68 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in BeOne Medicines by 16.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 369 shares of the company's stock worth $110,000 after buying an additional 52 shares in the last quarter. Finally, Signaturefd LLC lifted its holdings in BeOne Medicines by 13.4% during the 3rd quarter. Signaturefd LLC now owns 414 shares of the company's stock worth $152,000 after buying an additional 49 shares in the last quarter. 48.55% of the stock is owned by institutional investors.

About BeOne Medicines

BeOne Medicines Ltd. is a global oncology company focused on discovering, developing, manufacturing and commercializing medicines for cancer patients. Formerly known as BeiGene, the company operates an integrated biotechnology platform spanning research, clinical development, regulatory activities and commercial operations.

Its portfolio includes BRUKINSA (zanubrutinib), a Bruton's tyrosine kinase inhibitor used in the treatment of several blood cancers, and TEVIMBRA (tislelizumab), an anti-PD-1 immunotherapy approved in multiple markets for certain cancers.

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