BeOne Medicines (NASDAQ:ONC) Price Target Raised to $445.00

BeOne Medicines (NASDAQ:ONC) had its price target lifted by JPMorgan Chase & Co. from $425.00 to $445.00 in a report published on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

ONC has been the subject of several other research reports. Guggenheim raised their price objective on shares of BeOne Medicines from $420.00 to $430.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Citigroup reaffirmed an “outperform” rating on shares of BeOne Medicines in a research note on Thursday, August 6th. Nomura upgraded BeOne Medicines to a “strong-buy” rating in a report on Monday, July 27th. Zacks Research raised BeOne Medicines from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Finally, Morgan Stanley restated an “overweight” rating on shares of BeOne Medicines in a report on Thursday, August 6th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, BeOne Medicines has a consensus rating of “Buy” and an average target price of $404.14.

BeOne Medicines Trading Down 0.2%

Shares of ONC opened at $358.07 on Thursday. BeOne Medicines has a twelve month low of $253.95 and a twelve month high of $385.22. The company has a market cap of $39.31 billion, a P/E ratio of 63.04 and a beta of 0.61. The company has a current ratio of 3.40, a quick ratio of 3.06 and a debt-to-equity ratio of 0.17. The company’s fifty day simple moving average is $353.95 and its 200-day simple moving average is $316.23.

BeOne Medicines (NASDAQ:ONC) last released its quarterly earnings results on Wednesday, August 5th. The company reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.65. The firm had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.66 billion. BeOne Medicines had a net margin of 10.70% and a return on equity of 14.23%. As a group, analysts expect that BeOne Medicines will post 8.81 EPS for the current year.

Insider Buying and Selling

In other news, insider Xiaodong Wang sold 31,028 shares of the firm’s stock in a transaction that occurred on Monday, September 28th. The shares were sold at an average price of $364.79, for a total transaction of $11,318,704.12. Following the transaction, the insider directly owned 31,028 shares of the company’s stock, valued at approximately $11,318,704.12. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Xiaobin Wu sold 280 shares of BeOne Medicines stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $380.00, for a total transaction of $106,400.00. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 632,975 shares of company stock worth $211,070,198 over the last 90 days. Corporate insiders own 6.19% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC bought a new position in BeOne Medicines during the 1st quarter worth about $19,438,000. Rokos Capital Management LLP purchased a new position in BeOne Medicines during the 1st quarter valued at about $4,256,000. SEB Asset Management AB bought a new stake in shares of BeOne Medicines in the 1st quarter valued at about $16,653,000. Generali Investments Management Co LLC bought a new stake in shares of BeOne Medicines in the 2nd quarter valued at about $2,280,000. Finally, Engineers Gate Manager LP bought a new stake in shares of BeOne Medicines in the 2nd quarter valued at about $4,646,000. Institutional investors own 48.55% of the company’s stock.

BeOne Medicines News Summary

Here are the key news stories impacting BeOne Medicines this week:

• Positive Sentiment: JPMorgan raised its price target on BeOne Medicines to $445 from $425 and maintained an “overweight” rating, implying substantial upside from recent levels. This reinforces the broader Wall Street consensus, which remains “Buy.” JPMorgan raises BeOne Medicines price target
• Positive Sentiment: Investor’s Business Daily said BeOne shares are approaching potential buy points, highlighting continued momentum in BRUKINSA, the company’s blockbuster cancer drug, which generated $1.2 billion in second-quarter sales. BeOne Medicines poised to hit early buy points
• Neutral Sentiment: BeOne’s latest quarterly results exceeded expectations, with earnings of $2.05 per share versus a $1.40 consensus estimate and revenue of $1.71 billion versus $1.66 billion. Analysts expect approximately $8.81 in full-year earnings per share, although the stock’s valuation remains elevated at more than 60 times earnings.
• Negative Sentiment: Insider Xiaodong Wang sold 31,028 shares for approximately $11.3 million, reducing his direct ownership by 50%. Separately, Senior Vice President Chan Lee sold 1,115 shares for about $418,000. Both transactions were executed under pre-arranged Rule 10b5-1 plans, which lessens—but does not eliminate—their significance as a sentiment signal. BeOne Medicines insider sales

BeOne Medicines Company Profile

BeOne Medicines Ltd. (NASDAQ: ONC) is a global oncology company focused on discovering, developing, manufacturing and commercializing medicines for people with cancer. The company operates across the research and development, clinical testing, regulatory and commercial stages of the biopharmaceutical industry, with an emphasis on treatments for blood cancers and solid tumors.

Its marketed portfolio includes BRUKINSA (zanubrutinib), a Bruton’s tyrosine kinase inhibitor used to treat several B-cell malignancies, and TEVIMBRA (tislelizumab), an immunotherapy targeting the PD-1 pathway for certain cancers.