BeOne Medicines (NASDAQ:ONC) Price Target Raised to $436.00

BeOne Medicines (NASDAQ:ONC) had its price objective raised by equities research analysts at Royal Bank Of Canada from $425.00 to $436.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target points to a potential upside of 56.76% from the company’s current price.

A number of other research firms have also commented on ONC. Leerink Partners raised their price target on BeOne Medicines from $364.00 to $367.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. Jefferies Financial Group downgraded shares of BeOne Medicines from a “buy” rating to a “hold” rating and dropped their target price for the stock from $420.00 to $290.00 in a report on Monday, March 16th. Guggenheim lifted their price target on shares of BeOne Medicines from $410.00 to $420.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Barclays upped their price target on shares of BeOne Medicines from $405.00 to $409.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Finally, Wolfe Research began coverage on shares of BeOne Medicines in a research report on Friday, March 27th. They set an “outperform” rating and a $340.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, BeOne Medicines presently has a consensus rating of “Moderate Buy” and a consensus target price of $390.00.

BeOne Medicines Price Performance

Shares of ONC stock opened at $278.13 on Tuesday. The company has a quick ratio of 3.27, a current ratio of 3.64 and a debt-to-equity ratio of 0.20. BeOne Medicines has a 12-month low of $239.25 and a 12-month high of $385.22. The firm has a fifty day moving average of $301.97 and a 200-day moving average of $320.17. The firm has a market capitalization of $30.52 billion, a price-to-earnings ratio of 62.51 and a beta of 0.49.

BeOne Medicines (NASDAQ:ONC) last issued its quarterly earnings data on Wednesday, April 1st. The company reported $0.25 EPS for the quarter. The business had revenue of $1.51 billion for the quarter. BeOne Medicines had a return on equity of 12.06% and a net margin of 8.94%. On average, equities research analysts forecast that BeOne Medicines will post 5.65 earnings per share for the current year.

Insider Buying and Selling at BeOne Medicines

In other BeOne Medicines news, SVP Chan Henry Lee sold 332 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $310.72, for a total transaction of $103,159.04. Following the sale, the senior vice president directly owned 101 shares of the company’s stock, valued at $31,382.72. The trade was a 76.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Margaret Dugan sold 212 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $309.60, for a total transaction of $65,635.20. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 1,641 shares of company stock valued at $505,791 over the last quarter. 6.19% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Bank of America Corp DE acquired a new position in shares of BeOne Medicines during the 2nd quarter worth approximately $67,657,000. Man Group plc acquired a new stake in shares of BeOne Medicines in the 2nd quarter valued at approximately $59,031,000. Capital International Investors grew its stake in shares of BeOne Medicines by 3.3% in the third quarter. Capital International Investors now owns 5,046,058 shares of the company’s stock valued at $1,716,883,000 after buying an additional 161,052 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in BeOne Medicines during the second quarter worth $38,337,000. Finally, First Trust Advisors LP increased its holdings in BeOne Medicines by 91.9% during the first quarter. First Trust Advisors LP now owns 241,426 shares of the company’s stock worth $71,696,000 after buying an additional 115,601 shares during the last quarter. 48.55% of the stock is owned by institutional investors and hedge funds.

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. The company was founded by Xiao Dong Wang and John V. Oyler on October 28, 2010 and is headquartered in Basel, Switzerland.