BeOne Medicines (NASDAQ:ONC) Hits New 1-Year High – What’s Next?

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $318.20 and last traded at $318.20, with a volume of 1634 shares trading hands. The stock had previously closed at $309.69.

Analyst Ratings Changes

ONC has been the topic of several research reports. Wall Street Zen raised shares of BeOne Medicines from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 9th. Royal Bank Of Canada boosted their price target on BeOne Medicines from $349.00 to $364.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. raised their price objective on BeOne Medicines from $321.00 to $345.00 and gave the company an “overweight” rating in a research report on Thursday, July 17th. Guggenheim boosted their target price on BeOne Medicines from $350.00 to $365.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Finally, Morgan Stanley raised 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. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $330.89.

BeOne Medicines Trading Up 3.8%

The firm has a market cap of $35.22 billion, a price-to-earnings ratio of -185.76 and a beta of 0.27. The business’s 50 day simple moving average is $274.62. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.72.

BeOne Medicines (NASDAQ:ONC) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.36. BeOne Medicines had a negative return on equity of 1.22% and a negative net margin of 3.89%. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.24 billion. Research analysts forecast that BeOne Medicines Ltd. – Sponsored ADR will post -5.82 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO John Oyler sold 27,802 shares of the company’s stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $253.38, for a total transaction of $7,044,470.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Xiaobin Wu sold 39,936 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $305.06, for a total value of $12,182,876.16. The disclosure for this sale can be found here. Insiders have sold a total of 203,730 shares of company stock valued at $57,617,229 in the last ninety days. Corporate insiders own 6.62% of the company’s stock.

Hedge Funds Weigh In On BeOne Medicines

A number of institutional investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd purchased a new stake in BeOne Medicines in the second quarter worth about $28,000. Daiwa Securities Group Inc. bought a new position in shares of BeOne Medicines during the 2nd quarter valued at approximately $35,000. Farther Finance Advisors LLC purchased a new stake in BeOne Medicines in the 2nd quarter worth approximately $39,000. Signaturefd LLC bought a new stake in shares of BeOne Medicines during the 2nd quarter valued at $49,000. Finally, Parallel Advisors LLC bought a new stake in BeOne Medicines during the second quarter valued at about $59,000. 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.