Morgan Stanley Forecasts Strong Price Appreciation for BeOne Medicines (NASDAQ:ONC) Stock

BeOne Medicines (NASDAQ:ONC - Get Free Report) had its target price increased by equities research analysts at Morgan Stanley from $313.00 to $330.00 in a report released on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Morgan Stanley's target price indicates a potential upside of 35.06% from the stock's current price.

A number of other research analysts have also issued reports on the stock. JMP Securities set a $348.00 target price on shares of BeOne Medicines in a research note on Friday, February 28th. Guggenheim increased their target price on shares of BeOne Medicines from $348.00 to $350.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. TD Securities reaffirmed a "buy" rating and issued a $334.00 price target on shares of BeOne Medicines in a research note on Thursday, April 24th. Sanford C. Bernstein set a $259.00 price objective on shares of BeOne Medicines in a research note on Thursday, March 13th. Finally, Bank of America upgraded shares of BeOne Medicines from a "neutral" rating to a "buy" rating and raised their price objective for the company from $207.00 to $320.00 in a research report on Monday, March 3rd. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, BeOne Medicines currently has an average rating of "Buy" and a consensus price target of $320.67.

BeOne Medicines Price Performance

ONC traded down $10.15 during trading hours on Friday, hitting $244.34. 122,664 shares of the stock were exchanged, compared to its average volume of 441,794. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.71 and a current ratio of 1.96. BeOne Medicines has a 12 month low of $141.84 and a 12 month high of $287.88. The stock has a 50-day simple moving average of $247.69. The firm has a market capitalization of $26.78 billion, a PE ratio of -65.68 and a beta of 0.30.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.22 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.12 billion. Sell-side analysts expect that BeOne Medicines will post -5.82 EPS for the current year.

Insider Activity at BeOne Medicines

In related news, COO Xiaobin Wu sold 51,921 shares of BeOne Medicines stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $281.40, for a total value of $14,610,569.40. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Xiaodong Wang sold 2,007 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The stock was 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. Insiders have sold a total of 203,452 shares of company stock worth $51,856,379 over the last 90 days. Insiders own 6.62% 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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