JPMorgan Chase & Co. Forecasts Strong Price Appreciation for BeOne Medicines (NASDAQ:ONC) Stock

BeOne Medicines (NASDAQ:ONC - Free Report) had its target price upped by JPMorgan Chase & Co. from $321.00 to $345.00 in a research report released on Thursday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other equities research analysts have also commented on ONC. Morgan Stanley upped their price target on BeOne Medicines from $313.00 to $330.00 and gave the company an "overweight" rating in a research report on Friday, June 27th. Wall Street Zen cut shares of BeOne Medicines from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. TD Securities reaffirmed a "buy" rating and set a $334.00 target price on shares of BeOne Medicines in a report on Thursday, April 24th. Guggenheim raised their target price on shares of BeOne Medicines from $348.00 to $350.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Finally, Royal Bank Of Canada upped their price target on shares of BeOne Medicines from $311.00 to $349.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $327.56.

BeOne Medicines Stock Down 1.1%

Shares of NASDAQ:ONC traded down $3.34 on Thursday, reaching $291.21. 189,686 shares of the company's stock were exchanged, compared to its average volume of 438,937. The company has a market cap of $31.92 billion, a price-to-earnings ratio of -78.28 and a beta of 0.28. BeOne Medicines has a fifty-two week low of $153.77 and a fifty-two week high of $300.00. The business has a 50-day simple moving average of $250.96. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.96 and a quick ratio of 1.71.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.22 earnings per share for the quarter, beating analysts' consensus estimates of ($0.71) by $1.93. BeOne Medicines had a negative net margin of 9.40% and a negative return on equity of 7.55%. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.12 billion. Analysts predict that BeOne Medicines will post -5.82 earnings per share for the current fiscal year.

Insider Activity at BeOne Medicines

In related news, insider Lai Wang sold 1,028 shares of the stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $260.00, for a total transaction of $267,280.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John Oyler sold 27,802 shares of the firm's stock in a transaction on Wednesday, July 9th. The stock was 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 have sold 137,573 shares of company stock valued at $34,156,799 in the last ninety days. Insiders own 6.62% of the company's stock.

Institutional Trading of BeOne Medicines

Several institutional investors and hedge funds have recently modified their holdings of ONC. Farther Finance Advisors LLC purchased a new stake in shares of BeOne Medicines during the second quarter worth about $39,000. Signaturefd LLC purchased a new stake in shares of BeOne Medicines during the second quarter worth about $49,000. Parallel Advisors LLC purchased a new stake in shares of BeOne Medicines during the second quarter worth about $59,000. Avanza Fonder AB purchased a new stake in shares of BeOne Medicines during the second quarter worth about $199,000. Finally, Aaron Wealth Advisors LLC purchased a new stake in shares of BeOne Medicines during the second quarter worth about $200,000. 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.