BeOne Medicines (NASDAQ:ONC) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Key Points

• Royal Bank of Canada has raised the target price for BeOne Medicines (NASDAQ:ONC) from $349.00 to $364.00, indicating a potential upside of 22.77% from its previous close.
• BeOne Medicines recently reported better-than-expected earnings, with an EPS of $0.84, surpassing analysts' estimates of $0.48, and revenue of $1.32 billion, which also exceeded expectations.
• Multiple analysts have given BeOne Medicines buy ratings, with eight analysts currently rating the stock as a buy, reflecting strong market confidence in its future performance.

BeOne Medicines (NASDAQ:ONC - Get Free Report) had its target price raised by research analysts at Royal Bank Of Canada from $349.00 to $364.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Royal Bank Of Canada's target price would indicate a potential upside of 25.63% from the company's previous close.

A number of other equities analysts have also commented on ONC. Morgan Stanley boosted 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 reiterated a "buy" rating and issued a $334.00 price objective on shares of BeOne Medicines in a report on Thursday, April 24th. Wall Street Zen upgraded shares of BeOne Medicines from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Guggenheim boosted their target price on shares of BeOne Medicines from $350.00 to $365.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, JPMorgan Chase & Co. boosted their target price on shares of BeOne Medicines from $321.00 to $345.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $330.89.

BeOne Medicines Stock Up 0.5%

Shares of ONC traded up $1.57 during mid-day trading on Thursday, reaching $289.75. 394,876 shares of the company's stock were exchanged, compared to its average volume of 438,670. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.72 and a current ratio of 1.95. The stock's 50-day simple moving average is $269.66. BeOne Medicines has a 52-week low of $170.99 and a 52-week high of $313.29. The company has a market cap of $31.76 billion, a P/E ratio of -167.48 and a beta of 0.27.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.84 earnings per share for the quarter, beating analysts' consensus estimates of $0.48 by $0.36. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.24 billion. BeOne Medicines had a negative net margin of 3.89% and a negative return on equity of 1.22%. As a group, equities research analysts predict that BeOne Medicines will post -5.82 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Chan Henry Lee sold 920 shares of the stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $304.60, for a total transaction of $280,232.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John Oyler sold 27,802 shares of the stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $253.38, for a total transaction of $7,044,470.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 144,683 shares of company stock worth $36,294,047. Company insiders own 6.62% of the company's stock.

Institutional Investors Weigh In On BeOne Medicines

A number of large investors have recently made changes to their positions in ONC. QRG Capital Management Inc. acquired a new position in shares of BeOne Medicines during the 2nd quarter worth $367,000. Venturi Wealth Management LLC bought a new stake in BeOne Medicines in the 2nd quarter valued at $371,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in BeOne Medicines in the 2nd quarter valued at $926,000. Farther Finance Advisors LLC bought a new position in shares of BeOne Medicines during the 2nd quarter worth about $39,000. Finally, Slow Capital Inc. bought a new position in shares of BeOne Medicines during the 2nd quarter worth about $4,377,000. Institutional investors and hedge funds own 48.55% of the company's stock.

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.