BeOne Medicines (NASDAQ:ONC) Issues Earnings Results, Beats Estimates By $1.30 EPS

Key Points

• Earnings beat estimates: BeOne Medicines reported quarterly EPS of $3.64, topping the $2.34 consensus by $1.30.
• Growth and outlook strengthened: Product revenue rose 33% to about $1.9 billion, driven in part by BRUKINSA sales growth of 34%; the company raised its 2026 revenue guidance to $6.9 billion–$7.0 billion.
• Pipeline progress comes with timing and cost risks: BeOne advanced several cancer programs, but pushed its planned BTK-degrader filing in relapsed/refractory CLL to mid-2027 and expects substantial operating-expense growth in 2027.

BeOne Medicines (NASDAQ:ONC - Get Free Report) released its quarterly earnings data on Thursday. The company reported $3.64 EPS for the quarter, beating analysts' consensus estimates of $2.34 by $1.30, Zacks reports. BeOne Medicines had a return on equity of 14.23% and a net margin of 10.70%.

Here are the key takeaways from BeOne Medicines' conference call:

• Q3 revenue and profitability accelerated: Product revenue rose 33% year over year to about $1.9 billion, while GAAP operating income increased 157% to $419 million. BeOne raised its 2026 revenue outlook to $6.9 billion–$7.0 billion and increased its operating-income guidance.
• BRUKINSA continued to drive growth: Global sales grew 34% to $1.4 billion, with U.S. sales exceeding $1 billion for the first time. Management pointed to strong new-patient starts and real-world evidence, while noting that U.S. sales benefited by about $50 million from order timing.
• Pipeline progress broadened across hematology and solid tumors: BeOne reported encouraging early data for several solid-tumor programs and advanced its B7-H4 ADC into a Phase III trial. The company also said its BTK degrader met the primary endpoint in a Phase II CLL study and that its treatment-naive mantle-cell lymphoma application received FDA priority review.
• Some expected returns may take longer, and investment will remain high: After FDA discussions, BeOne shifted its planned accelerated-approval filing for the BTK degrader in relapsed/refractory CLL to mid-2027, citing a request for additional follow-up. Management expects 2027 operating-expense growth to remain substantial, moderating the pace of margin expansion; it also flagged potential revenue pressure for XGEVA and KYPROLIS from biosimilars and possible China VBP inclusion.

BeOne Medicines Stock Up 2.5%

Shares of ONC stock traded up $9.47 during trading on Thursday, reaching $387.25. The company's stock had a trading volume of 959,362 shares, compared to its average volume of 395,963. 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 company has a market capitalization of $42.52 billion, a price-to-earnings ratio of 66.51 and a beta of 0.63. The stock's 50-day moving average price is $362.80 and its 200 day moving average price is $325.98. BeOne Medicines has a 1-year low of $253.95 and a 1-year high of $405.00.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ONC shares. Zacks Research downgraded BeOne Medicines from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 5th. Morgan Stanley reaffirmed an "overweight" rating and set a $425.00 target price on shares of BeOne Medicines in a research note on Friday, October 16th. Wolfe Research reaffirmed an "outperform" rating and set a $370.00 target price on shares of BeOne Medicines in a research note on Monday, August 10th. Citizens Jmp lifted their price target on shares of BeOne Medicines from $396.00 to $405.00 and gave the company a "market outperform" rating in a research report on Thursday, August 6th. Finally, Guggenheim boosted their price target on shares of BeOne Medicines from $420.00 to $430.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, BeOne Medicines presently has an average rating of "Buy" and an average price target of $424.26.

Insider Activity

In other BeOne Medicines news, insider Xiaodong Wang sold 31,028 shares of the stock in a transaction that occurred on Tuesday, October 27th. The shares were sold at an average price of $362.97, for a total transaction of $11,262,233.16. Following the sale, the insider directly owned 31,028 shares in the company, valued at $11,262,233.16. This represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John Oyler sold 54,892 shares of the firm's stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $358.15, for a total transaction of $19,659,569.80. Following the completion of the transaction, the chief executive officer directly owned 240,743 shares of the company's stock, valued at $86,222,105.45. This represents a 18.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 376,373 shares of company stock worth $134,848,154 over the last 90 days. Company insiders own 6.19% of the company's stock.

Key Headlines Impacting BeOne Medicines

Here are the key news stories impacting BeOne Medicines this week:

• Positive Sentiment: BeOne reported Q3 earnings per share of $3.64, above the $2.34 consensus estimate. Reports also said revenue and adjusted earnings rose, and the company increased its 2026 revenue outlook—signals of stronger performance and improved expectations. BeOne Medicines Q3 Adjusted Earnings, Revenue Rise; 2026 Revenue Guidance Raised
• Positive Sentiment: The FDA granted priority review for a BRUKINSA combination in first-line mantle cell lymphoma. A potential label expansion could broaden the drug’s use, though priority review is not an approval. FDA Priority Review for BRUKINSA Combination

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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