BeOne Medicines (NASDAQ:ONC) Price Target Raised to $321.00

by · The Cerbat Gem

BeOne Medicines (NASDAQ:ONC – Free Report) had its target price raised by JPMorgan Chase & Co. from $317.00 to $321.00 in a research report sent to investors on Friday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other brokerages have also commented on ONC. Macquarie raised their price objective on BeOne Medicines from $259.00 to $313.00 and gave the company an “outperform” rating in a report on Friday, February 28th. Bank of America raised shares of BeOne Medicines from a “neutral” rating to a “buy” rating and lifted their price target for the company from $207.00 to $320.00 in a research note on Monday, March 3rd. Guggenheim upped their price objective on shares of BeOne Medicines from $348.00 to $350.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. Sanford C. Bernstein set a $259.00 target price on shares of BeOne Medicines in a research report on Thursday, March 13th. Finally, Wall Street Zen upgraded shares of BeOne Medicines from a “hold” rating to a “buy” rating in a research report on Thursday, May 22nd. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, BeOne Medicines has an average rating of “Buy” and a consensus target price of $320.67.

View Our Latest Analysis on ONC

BeOne Medicines Stock Performance

NASDAQ:ONC opened at $241.20 on Friday. The firm has a fifty day simple moving average of $247.90. The stock has a market capitalization of $26.44 billion, a price-to-earnings ratio of -64.84 and a beta of 0.30. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.71 and a current ratio of 1.96. BeOne Medicines has a one year low of $141.84 and a one year high of $287.88.

BeOne Medicines (NASDAQ:ONC – Get Free Report) last released its quarterly earnings data 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. BeOne Medicines had a negative net margin of 9.40% and a negative return on equity of 7.55%. The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.12 billion. As a group, equities research analysts predict that BeOne Medicines will post -5.82 earnings per share for the current fiscal year.

Insider Activity

In other BeOne Medicines news, CEO John Oyler sold 3,174 shares of the company’s stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $261.61, for a total value of $830,350.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Xiaobin Wu sold 51,921 shares of BeOne Medicines stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $281.40, for a total value of $14,610,569.40. The disclosure for this sale can be found here. Insiders sold 203,452 shares of company stock worth $51,856,379 over the last three months. Insiders own 6.62% of the company’s stock.

BeOne Medicines Company Profile

(Get Free Report)

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.

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