BeOne Medicines (NASDAQ:ONC) Price Target Raised to $349.00

BeOne Medicines (NASDAQ:ONC - Free Report) had its target price boosted by Royal Bank Of Canada from $311.00 to $349.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities research analysts have also commented on ONC. Morgan Stanley raised their price objective on shares of BeOne Medicines from $313.00 to $330.00 and gave the stock an "overweight" rating in a report on Friday, June 27th. TD Securities reissued a "buy" rating and issued a $334.00 price objective on shares of BeOne Medicines in a research report on Thursday, April 24th. JPMorgan Chase & Co. lifted their target price on shares of BeOne Medicines from $317.00 to $321.00 and gave the stock an "overweight" rating in a report on Friday, June 27th. Wall Street Zen downgraded shares of BeOne Medicines from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Finally, Guggenheim lifted their price objective on shares of BeOne Medicines from $348.00 to $350.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, BeOne Medicines currently has an average rating of "Moderate Buy" and a consensus target price of $327.56.

BeOne Medicines Stock Performance

Shares of ONC traded up $4.20 during trading hours on Wednesday, reaching $294.55. 893,521 shares of the company traded hands, compared to its average volume of 355,827. The firm has a market cap of $32.28 billion, a PE ratio of -79.18 and a beta of 0.28. The firm has a fifty day moving average of $250.96. BeOne Medicines has a 1-year low of $152.81 and a 1-year high of $300.00. The company has a current ratio of 1.96, a quick ratio of 1.71 and a debt-to-equity ratio of 0.05.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last issued 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 analysts' expectations of $1.12 billion. On average, equities research analysts predict that BeOne Medicines will post -5.82 EPS for the current year.

Insider Buying and Selling

In other BeOne Medicines news, insider Xiaodong Wang sold 41,760 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $223.50, for a total transaction of $9,333,360.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Xiaobin Wu sold 1,934 shares of the company's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $253.15, for a total transaction of $489,592.10. The disclosure for this sale can be found here. Insiders have sold a total of 137,573 shares of company stock valued at $34,156,799 over the last ninety days. 6.62% of the stock is owned by corporate insiders.

Institutional Trading of BeOne Medicines

Institutional investors and hedge funds have recently made changes to their positions in the company. PFG Investments LLC bought a new position in BeOne Medicines during the second quarter valued at about $238,000. Janney Montgomery Scott LLC bought a new position in BeOne Medicines during the second quarter valued at about $373,000. LVW Advisors LLC bought a new position in BeOne Medicines during the second quarter valued at about $247,000. Signaturefd LLC bought a new position in BeOne Medicines during the second quarter worth about $49,000. Finally, Perigon Wealth Management LLC bought a new position in BeOne Medicines during the second quarter worth about $581,000. 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.