BeOne Medicines (NASDAQ:ONC) Given New $425.00 Price Target at JPMorgan Chase & Co.

BeOne Medicines (NASDAQ:ONC) had its price target raised by JPMorgan Chase & Co. from $415.00 to $425.00 in a research report report published on Thursday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other brokerages also recently weighed in on ONC. Guggenheim boosted their target price on BeOne Medicines from $410.00 to $420.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Wells Fargo & Company initiated coverage on BeOne Medicines in a research report on Monday, May 4th. They set an “overweight” rating and a $400.00 price target for the company. Barclays dropped their price target on BeOne Medicines from $409.00 to $403.00 and set an “overweight” rating on the stock in a report on Tuesday, July 14th. Royal Bank Of Canada boosted their price objective on BeOne Medicines from $436.00 to $451.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 7th. Finally, Truist Financial upped their price objective on BeOne Medicines from $413.00 to $416.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, BeOne Medicines presently has an average rating of “Moderate Buy” and a consensus price target of $394.00.

BeOne Medicines Stock Up 2.1%

ONC opened at $326.77 on Thursday. BeOne Medicines has a fifty-two week low of $253.95 and a fifty-two week high of $385.22. The firm has a market capitalization of $35.85 billion, a P/E ratio of 73.10 and a beta of 0.49. The company’s 50-day moving average is $290.79 and its 200 day moving average is $309.32. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.64 and a quick ratio of 3.27.

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. The business had revenue of $1.51 billion during the quarter. BeOne Medicines had a net margin of 8.94% and a return on equity of 12.06%. Research analysts expect that BeOne Medicines will post 5.86 earnings per share for the current fiscal year.

Insider Activity at BeOne Medicines

In related news, insider Lai Wang sold 1,068 shares of BeOne Medicines stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $276.74, for a total value of $295,558.32. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Chan Henry Lee sold 664 shares of BeOne Medicines stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $302.46, for a total transaction of $200,833.44. Following the completion of the sale, the senior vice president directly owned 202 shares in the company, valued at $61,096.92. This trade represents a 76.67% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 233,647 shares of company stock worth $70,335,553. Insiders own 6.19% of the company’s stock.

Institutional Trading of BeOne Medicines

A number of large investors have recently bought and sold shares of the company. EFG International AG purchased a new position in shares of BeOne Medicines during the 4th quarter valued at $25,000. Leonteq Securities AG bought a new position in shares of BeOne Medicines during the 4th quarter worth $35,000. Daiwa Securities Group Inc. purchased a new stake in BeOne Medicines in the 2nd quarter worth about $35,000. CWM LLC increased its holdings in BeOne Medicines by 32.8% in the 4th quarter. CWM LLC now owns 158 shares of the company’s stock worth $48,000 after acquiring an additional 39 shares during the last quarter. Finally, Group One Trading LLC bought a new stake in BeOne Medicines in the 4th quarter valued at about $61,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

Key BeOne Medicines News

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

• Positive Sentiment: BeOne announced plans to invest an additional $300 million to expand its Hopewell, New Jersey manufacturing campus, reinforcing its U.S. footprint and bringing total investment in the facility to more than $1 billion. The move suggests confidence in long-term demand and could support future supply for its cancer drug pipeline. BeOne Medicines To Invest $300M In New Jersey Manufacturing Expansion
• Positive Sentiment: JPMorgan raised its price target on BeOne to $425 from $415 and reiterated an overweight rating, signaling continued analyst confidence in the stock’s upside potential. Benzinga report on JPMorgan price target increase
• Positive Sentiment: Additional reports highlighted BeOne’s U.S. expansion and large capital commitment, which may be viewed by investors as a strategic growth investment rather than a one-off expense. BeOne Medicines expands New Jersey campus with additional $300 million investment
• Neutral Sentiment: One headline noted that a BeOne founder sold $34.6 million in stock, but the report also said the founder still holds a large position, making the signal mixed rather than clearly negative. A BeOne Founder Sold $34.6 Million in Stock but Keeps a Massive Position
• Neutral Sentiment: Analyst consensus data cited a roughly $391 average price target, which supports a constructive outlook but does not represent a new catalyst on its own. BeOne Medicines Ltd. Receives $390.92 Consensus PT from Analysts

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.