BeOne Medicines (NASDAQ:ONC) Price Target Raised to $395.00

BeOne Medicines (NASDAQ:ONC) had its target price lifted by equities research analysts at Royal Bank Of Canada from $374.00 to $395.00 in a report issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective suggests a potential upside of 25.93% from the company’s previous close.

A number of other research firms also recently issued reports on ONC. Barclays assumed coverage on shares of BeOne Medicines in a research report on Thursday, September 18th. They set an “overweight” rating and a $385.00 target price on the stock. Zacks Research lowered shares of BeOne Medicines from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 28th. Morgan Stanley boosted their price objective on BeOne Medicines from $350.00 to $383.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BeOne Medicines in a research report on Wednesday, October 8th. Finally, Citizens Jmp increased their price target on BeOne Medicines from $348.00 to $396.00 and gave the company a “market outperform” rating in a research report on Friday. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $353.00.

BeOne Medicines Trading Down 5.6%

Shares of ONC stock traded down $18.69 during mid-day trading on Friday, reaching $313.67. 114,697 shares of the stock traded hands, compared to its average volume of 389,975. BeOne Medicines has a 1-year low of $170.99 and a 1-year high of $355.30. The company has a quick ratio of 1.72, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a market cap of $34.40 billion, a price-to-earnings ratio of -181.31 and a beta of 0.31. The stock’s fifty day simple moving average is $326.63 and its two-hundred day simple moving average is $287.14.

BeOne Medicines (NASDAQ:ONC) last released its earnings results on Wednesday, August 6th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.36. The business 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%. On average, research analysts anticipate that BeOne Medicines will post -5.82 EPS for the current fiscal year.

Insider Activity at BeOne Medicines

In other news, Director Corazon (Corsee) D. Sanders sold 2,665 shares of the stock in a transaction on Friday, September 5th. The shares were sold at an average price of $337.00, for a total value of $898,105.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Xiaobin Wu sold 49,858 shares of BeOne Medicines stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $304.16, for a total value of $15,164,809.28. The disclosure for this sale is available in the SEC filing. Insiders have sold 157,074 shares of company stock valued at $49,396,898 in the last ninety days. Insiders own 6.62% of the company’s stock.

Institutional Investors Weigh In On BeOne Medicines

Institutional investors and hedge funds have recently bought and sold shares of the business. Primecap Management Co. CA purchased a new position in shares of BeOne Medicines during the second quarter valued at approximately $1,231,720,000. Temasek Holdings Private Ltd purchased a new position in BeOne Medicines during the 2nd quarter valued at $244,603,000. Marshall Wace LLP bought a new position in BeOne Medicines in the 2nd quarter worth $113,190,000. Baird Financial Group Inc. purchased a new stake in shares of BeOne Medicines in the 2nd quarter worth about $82,895,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of BeOne Medicines during the 2nd quarter valued at about $73,347,000. Hedge funds and other institutional investors 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.