Citizens Jmp Boosts BeOne Medicines (NASDAQ:ONC) Price Target to $396.00

BeOne Medicines (NASDAQ:ONC) had its target price lifted by stock analysts at Citizens Jmp from $348.00 to $396.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. Citizens Jmp’s target price suggests a potential upside of 23.76% from the stock’s previous close.

ONC has been the subject of a number of other research reports. Guggenheim upped their price objective on shares of BeOne Medicines from $350.00 to $365.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Morgan Stanley boosted their price target on shares of BeOne Medicines from $350.00 to $383.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Barclays initiated coverage on BeOne Medicines in a research note on Thursday, September 18th. They set an “overweight” rating and a $385.00 price objective on the stock. Wall Street Zen raised BeOne Medicines from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 3rd. Finally, Zacks Research cut BeOne Medicines from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 28th. Nine investment 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $353.00.

BeOne Medicines Stock Performance

Shares of NASDAQ ONC opened at $319.97 on Friday. The stock’s 50-day moving average is $326.91 and its 200 day moving average is $288.01. The stock has a market cap of $35.09 billion, a price-to-earnings ratio of 627.39 and a beta of 0.31. BeOne Medicines has a 1-year low of $170.99 and a 1-year high of $355.30. The company has a current ratio of 1.95, a quick ratio of 1.72 and a debt-to-equity ratio of 0.04.

BeOne Medicines (NASDAQ:ONC) last issued its earnings results on Wednesday, August 6th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.36. BeOne Medicines had a return on equity of 5.76% and a net margin of 1.38%.The business had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.24 billion. On average, sell-side analysts anticipate that BeOne Medicines will post -5.82 EPS for the current fiscal year.

Insider Transactions at BeOne Medicines

In related news, Director Corazon (Corsee) D. Sanders sold 2,665 shares of the business’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $337.00, for a total transaction of $898,105.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Chan Henry Lee sold 11,013 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $300.45, for a total value of $3,308,855.85. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 157,074 shares of company stock valued at $49,396,898. Company insiders own 6.62% of the company’s stock.

Hedge Funds Weigh In On BeOne Medicines

Several hedge funds have recently made changes to their positions in ONC. Primecap Management Co. CA purchased a new stake in BeOne Medicines in the second quarter worth $1,231,720,000. Temasek Holdings Private Ltd bought a new position in BeOne Medicines in the 2nd quarter worth $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. 48.55% of the stock is owned by hedge funds and other institutional investors.

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.