BeOne Medicines (NASDAQ:ONC) Price Target Raised to $345.00

BeOne Medicines (NASDAQ:ONC) had its target price upped by equities research analysts at JPMorgan Chase & Co. from $321.00 to $345.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 17.13% from the company’s previous close.

Other analysts have also issued reports about the stock. Wall Street Zen lowered shares of BeOne Medicines from a “buy” rating to a “hold” rating in a research report on Saturday, July 12th. Morgan Stanley increased their price objective on shares of BeOne Medicines from $313.00 to $330.00 and gave the stock an “overweight” rating in a research 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. Royal Bank Of Canada increased their price objective on shares of BeOne Medicines from $311.00 to $349.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Guggenheim raised their target price on shares of BeOne Medicines from $348.00 to $350.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, BeOne Medicines has a consensus rating of “Moderate Buy” and a consensus price target of $327.56.

BeOne Medicines Stock Up 1.4%

ONC opened at $294.55 on Thursday. The firm’s 50-day moving average is $250.96. BeOne Medicines has a 52 week low of $152.81 and a 52 week high of $300.00. The company has a market cap of $32.28 billion, a P/E ratio of -79.18 and a beta of 0.28. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.96 and a quick ratio of 1.71.

BeOne Medicines (NASDAQ:ONC) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.12 billion. As a group, sell-side analysts expect that BeOne Medicines will post -5.82 earnings per share for the current year.

Insider Activity

In other BeOne Medicines news, CEO John Oyler sold 27,802 shares of the firm’s stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $253.38, for a total value of $7,044,470.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Xiaobin Wu sold 1,363 shares of the firm’s stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $260.00, for a total transaction of $354,380.00. The disclosure for this sale can be found here. Insiders have sold 137,573 shares of company stock valued at $34,156,799 in the last ninety days. 6.62% of the stock is currently owned by insiders.

Institutional Investors Weigh In On BeOne Medicines

Institutional investors and hedge funds have recently made changes to their positions in the stock. Parallel Advisors LLC acquired a new position in BeOne Medicines during the second quarter valued at $59,000. Aaron Wealth Advisors LLC acquired a new position in BeOne Medicines during the second quarter valued at $200,000. Farther Finance Advisors LLC acquired a new position in BeOne Medicines during the second quarter valued at $39,000. Avanza Fonder AB acquired a new position in BeOne Medicines during the second quarter valued at $199,000. Finally, Public Employees Retirement System of Ohio acquired a new position in BeOne Medicines during the second quarter valued at $3,491,000. 48.55% of the stock is currently owned by institutional investors and hedge funds.

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.