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

BeOne Medicines (NASDAQ:ONC - Get Free Report) had its price target increased by research analysts at JPMorgan Chase & Co. from $321.00 to $345.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 19.68% from the stock's current price.

A number of other research analysts have also recently issued reports on the company. TD Securities reissued a "buy" rating and issued a $334.00 target price on shares of BeOne Medicines in a research note on Thursday, April 24th. Royal Bank Of Canada upped their price objective on BeOne Medicines from $311.00 to $349.00 and gave the company an "outperform" rating in a research note on Wednesday. Wall Street Zen downgraded BeOne Medicines from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Guggenheim increased their price target on BeOne Medicines from $348.00 to $350.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Finally, Morgan Stanley upped their target price on BeOne Medicines from $313.00 to $330.00 and gave the stock an "overweight" rating in a research note on Friday, June 27th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, BeOne Medicines presently has an average rating of "Moderate Buy" and an average price target of $327.56.

BeOne Medicines Price Performance

BeOne Medicines stock traded up $9.10 during mid-day trading on Thursday, hitting $288.26. The company's stock had a trading volume of 511,760 shares, compared to its average volume of 435,142. BeOne Medicines has a 52-week low of $148.81 and a 52-week high of $298.00. The stock's 50 day moving average is $248.65. The company has a current ratio of 1.96, a quick ratio of 1.71 and a debt-to-equity ratio of 0.05. The firm has a market cap of $31.59 billion, a P/E ratio of -77.49 and a beta of 0.28.

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

Insider Activity at BeOne Medicines

In other BeOne Medicines news, COO Xiaobin Wu sold 1,363 shares of the business's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $260.00, for a total transaction of $354,380.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Xiaodong Wang sold 2,007 shares of the business's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $265.50, for a total transaction of $532,858.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 137,573 shares of company stock worth $34,156,799. Company insiders own 6.62% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ONC. Public Employees Retirement System of Ohio bought a new position in shares of BeOne Medicines in the second quarter worth $3,491,000. Perigon Wealth Management LLC purchased a new position in BeOne Medicines in the second quarter worth $581,000. LVW Advisors LLC purchased a new position in BeOne Medicines in the second quarter worth $247,000. Aaron Wealth Advisors LLC purchased a new position in BeOne Medicines in the second quarter worth $200,000. Finally, Avanza Fonder AB purchased a new position in BeOne Medicines in the second quarter worth $199,000. 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.

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