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

BeOne Medicines (NASDAQ:ONC) had its price objective boosted by analysts at Royal Bank Of Canada from $311.00 to $349.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective points to a potential upside of 20.20% from the stock’s previous close.

A number of other equities research analysts have also issued reports on ONC. JPMorgan Chase & Co. upped their target price on shares of BeOne Medicines from $317.00 to $321.00 and gave the company an “overweight” rating in a research note on Friday, June 27th. Morgan Stanley lifted their price target on BeOne Medicines from $313.00 to $330.00 and gave the company an “overweight” rating in a report on Friday, June 27th. Wall Street Zen lowered shares of BeOne Medicines from a “buy” rating to a “hold” rating in a research note on Saturday, July 12th. TD Securities restated a “buy” rating and issued a $334.00 price target on shares of BeOne Medicines in a research report on Thursday, April 24th. Finally, Guggenheim lifted 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. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, BeOne Medicines has an average rating of “Moderate Buy” and a consensus price target of $327.56.

BeOne Medicines Price Performance

Shares of BeOne Medicines stock opened at $290.35 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.96 and a quick ratio of 1.71. BeOne Medicines has a 1 year low of $148.81 and a 1 year high of $298.00. The firm has a market cap of $31.82 billion, a P/E ratio of -78.05 and a beta of 0.28. The stock’s 50 day moving average is $249.71.

BeOne Medicines (NASDAQ:ONC) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of ($0.71) by $1.93. BeOne Medicines had a negative return on equity of 7.55% and a negative net margin of 9.40%. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.12 billion. As a group, research analysts expect that BeOne Medicines will post -5.82 EPS for the current fiscal year.

Insider Activity

In other BeOne Medicines news, insider Xiaodong Wang sold 2,007 shares of BeOne Medicines stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $265.50, for a total transaction of $532,858.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Xiaobin Wu sold 1,363 shares of the firm’s stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $260.00, for a total transaction of $354,380.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 137,573 shares of company stock worth $34,156,799. 6.62% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Farther Finance Advisors LLC bought a new stake in BeOne Medicines during the second quarter worth about $39,000. Signaturefd LLC purchased a new stake in BeOne Medicines during the second quarter valued at approximately $49,000. Parallel Advisors LLC purchased a new stake in shares of BeOne Medicines in the second quarter worth $59,000. Avanza Fonder AB purchased a new stake in shares of BeOne Medicines in the second quarter worth $199,000. Finally, Aaron Wealth Advisors LLC bought a new stake in BeOne Medicines in the 2nd quarter valued at $200,000. 48.55% of the stock is owned by institutional investors.

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.