BeOne Medicines (NASDAQ:ONC - Get Free Report) had its price target increased by stock analysts at Royal Bank Of Canada from $349.00 to $364.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective would indicate a potential upside of 26.31% from the stock's current price.
Other research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. upped their price target on shares of BeOne Medicines from $321.00 to $345.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. TD Securities reiterated a "buy" rating and issued a $334.00 price target on shares of BeOne Medicines in a report on Thursday, April 24th. Guggenheim upped their price target on shares of BeOne Medicines from $350.00 to $365.00 and gave the company a "buy" rating in a report on Thursday. Morgan Stanley upped their price target on shares of BeOne Medicines from $313.00 to $330.00 and gave the company an "overweight" rating in a report on Friday, June 27th. Finally, Wall Street Zen upgraded shares of BeOne Medicines from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $330.89.
Read Our Latest Analysis on BeOne Medicines
BeOne Medicines Trading Down 3.4%
Shares of ONC traded down $10.11 on Thursday, reaching $288.18. 423,056 shares of the company's stock were exchanged, compared to its average volume of 462,618. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.71. The stock has a market cap of $31.58 billion, a PE ratio of -166.58 and a beta of 0.27. The stock's 50 day simple moving average is $269.66. BeOne Medicines has a 12 month low of $170.99 and a 12 month high of $313.29.
BeOne Medicines (NASDAQ:ONC - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.48 by $0.36. BeOne Medicines had a negative net margin of 3.89% and a negative return on equity of 1.22%. The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.24 billion. Equities research analysts predict that BeOne Medicines will post -5.82 EPS for the current year.
Insider Transactions at BeOne Medicines
In other BeOne Medicines news, insider Xiaodong Wang sold 2,007 shares of the stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $265.50, for a total value of $532,858.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Lai Wang sold 259 shares of the stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $305.00, for a total transaction of $78,995.00. Following the completion of the sale, the insider owned 1,023,529 shares of the company's stock, valued at approximately $312,176,345. This represents a 0.03% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 144,683 shares of company stock valued at $36,294,047. 6.62% of the stock is owned by company insiders.
Hedge Funds Weigh In On BeOne Medicines
Large investors have recently modified their holdings of the stock. QRG Capital Management Inc. bought a new position in BeOne Medicines during the second quarter worth about $367,000. Venturi Wealth Management LLC bought a new position in BeOne Medicines during the second quarter worth about $371,000. Mirae Asset Global Investments Co. Ltd. bought a new position in BeOne Medicines during the second quarter worth about $926,000. Farther Finance Advisors LLC bought a new position in BeOne Medicines during the second quarter worth about $39,000. Finally, Slow Capital Inc. bought a new position in BeOne Medicines during the second quarter worth about $4,377,000. 48.55% of the stock is owned by institutional investors.
About BeOne Medicines
(
Get Free Report)
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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