Morgan Stanley Issues Positive Forecast for BeOne Medicines (NASDAQ:ONC) Stock Price

BeOne Medicines (NASDAQ:ONC - Get Free Report) had its target price increased by Morgan Stanley from $313.00 to $330.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Morgan Stanley's target price would indicate a potential upside of 36.32% from the company's current price.

A number of other brokerages also recently weighed in on ONC. Macquarie upped their price target on shares of BeOne Medicines from $259.00 to $313.00 and gave the company an "outperform" rating in a report on Friday, February 28th. Sanford C. Bernstein set a $259.00 target price on shares of BeOne Medicines in a research note on Thursday, March 13th. Bank of America upgraded shares of BeOne Medicines from a "neutral" rating to a "buy" rating and raised their target price for the stock from $207.00 to $320.00 in a report on Monday, March 3rd. Guggenheim upped their price target on BeOne Medicines from $348.00 to $350.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Finally, Wall Street Zen upgraded BeOne Medicines from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $320.67.

BeOne Medicines Price Performance

Shares of NASDAQ ONC traded up $0.87 during mid-day trading on Friday, reaching $242.07. 402,124 shares of the company traded hands, compared to its average volume of 443,791. BeOne Medicines has a fifty-two week low of $142.00 and a fifty-two week high of $287.88. The firm has a market capitalization of $26.53 billion, a price-to-earnings ratio of -65.07 and a beta of 0.30. The company has a fifty day moving average of $247.90. 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 (NASDAQ:ONC - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.22 EPS for the quarter, topping analysts' consensus estimates of ($0.71) by $1.93. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate 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 predict that BeOne Medicines will post -5.82 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO John Oyler sold 3,174 shares of the company's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $261.61, for a total transaction of $830,350.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Xiaobin Wu sold 1,363 shares of BeOne Medicines stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $260.00, for a total value of $354,380.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 203,452 shares of company stock valued at $51,856,379. 6.62% of the stock is currently owned by company insiders.

BeOne Medicines Company Profile

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.