BeOne Medicines (NASDAQ:ONC) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

BeOne Medicines (NASDAQ:ONC) had its target price lifted by analysts at Royal Bank Of Canada from $423.00 to $425.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target would indicate a potential upside of 36.17% from the company’s current price.

A number of other equities research analysts also recently weighed in on ONC. Sanford C. Bernstein upgraded BeOne Medicines from a “hold” rating to an “outperform” rating and set a $414.00 target price for the company in a research report on Monday, January 12th. Wells Fargo & Company initiated coverage on BeOne Medicines in a research report on Monday. They set an “overweight” rating and a $400.00 price objective for the company. Wolfe Research initiated coverage on BeOne Medicines in a report on Friday, March 27th. They issued an “outperform” rating and a $340.00 target price for the company. Jefferies Financial Group lowered BeOne Medicines from a “buy” rating to a “hold” rating and reduced their target price for the company from $420.00 to $290.00 in a report on Monday, March 16th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $413.00 price target (up from $411.00) on shares of BeOne Medicines in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $391.00.

BeOne Medicines Stock Performance

Shares of ONC stock opened at $312.12 on Thursday. BeOne Medicines has a 12-month low of $218.31 and a 12-month high of $385.22. The firm has a market capitalization of $34.25 billion, a price-to-earnings ratio of 69.83 and a beta of 0.50. The business has a 50 day simple moving average of $301.40 and a 200 day simple moving average of $322.00. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.64 and a quick ratio of 3.08.

BeOne Medicines (NASDAQ:ONC) last issued its quarterly earnings data on Wednesday, April 1st. The company reported $0.25 earnings per share (EPS) for the quarter. BeOne Medicines had a return on equity of 12.06% and a net margin of 8.94%.The business had revenue of $1.51 billion during the quarter. On average, equities research analysts anticipate that BeOne Medicines will post 5.44 EPS for the current year.

Insider Activity

In other news, SVP Chan Henry Lee sold 332 shares of the firm’s stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $311.59, for a total value of $103,447.88. Following the sale, the senior vice president directly owned 318,370 shares of the company’s stock, valued at approximately $99,200,908.30. This trade represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 6.62% of the company’s stock.

Institutional Investors Weigh In On BeOne Medicines

A number of institutional investors have recently added to or reduced their stakes in ONC. Bank of America Corp DE acquired a new stake in BeOne Medicines during the second quarter worth about $67,657,000. Man Group plc acquired a new stake in BeOne Medicines during the second quarter worth about $59,031,000. Capital International Investors grew its position in BeOne Medicines by 3.3% during the third quarter. Capital International Investors now owns 5,046,058 shares of the company’s stock worth $1,716,883,000 after buying an additional 161,052 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in BeOne Medicines during the second quarter worth about $38,337,000. Finally, Qube Research & Technologies Ltd acquired a new stake in BeOne Medicines during the second quarter worth about $26,034,000. 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.