BeOne Medicines (NASDAQ:ONC) Shares Gap Up – Time to Buy?

Shares of BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) gapped up prior to trading on Monday . The stock had previously closed at $247.08, but opened at $260.00. BeOne Medicines shares last traded at $257.67, with a volume of 111,639 shares traded.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ONC. TD Securities restated a “buy” rating and set a $334.00 target price on shares of BeOne Medicines in a report on Thursday, April 24th. Royal Bank Of Canada reduced their price objective on shares of BeOne Medicines from $312.00 to $311.00 and set an “outperform” rating on the stock in a research report on Thursday, May 8th. JMP Securities set a $348.00 target price on shares of BeOne Medicines in a research report on Friday, February 28th. Bank of America raised shares of BeOne Medicines from a “neutral” rating to a “buy” rating and lifted their target price for the company from $207.00 to $320.00 in a research note on Monday, March 3rd. Finally, Macquarie boosted their price target on shares of BeOne Medicines from $259.00 to $313.00 and gave the company an “outperform” rating in a research report on Friday, February 28th. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $319.00.

BeOne Medicines Price Performance

The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.71 and a current ratio of 1.96. The business’s 50-day simple moving average is $245.59. The stock has a market capitalization of $27.90 billion, a price-to-earnings ratio of -68.42 and a beta of 0.30.

BeOne Medicines (NASDAQ:ONC) last announced its earnings results on Wednesday, May 7th. The company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.71) by $1.93. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.12 billion. BeOne Medicines had a negative net margin of 9.40% and a negative return on equity of 7.55%. Sell-side analysts forecast that BeOne Medicines Ltd. – Sponsored ADR will post -5.82 earnings per share for the current fiscal year.

Insider Activity at BeOne Medicines

In other BeOne Medicines news, insider Xiaodong Wang sold 41,760 shares of BeOne Medicines stock in a transaction on Monday, April 14th. The stock was sold at an average price of $242.66, for a total value of $10,133,481.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Chan Henry Lee sold 700 shares of the business’s stock in a transaction on Friday, June 6th. The stock was sold at an average price of $256.11, for a total value of $179,277.00. The disclosure for this sale can be found here. Insiders sold a total of 195,880 shares of company stock valued at $49,871,511 in the last 90 days. Corporate insiders own 6.62% 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.