BeOne Medicines (NASDAQ:ONC) Price Target Raised to $330.00

BeOne Medicines (NASDAQ:ONCFree Report) had its price target raised by Morgan Stanley from $313.00 to $330.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an overweight rating on the stock.

Other equities analysts also recently issued research reports about the company. JPMorgan Chase & Co. increased their price objective on BeOne Medicines from $317.00 to $321.00 and gave the stock an “overweight” rating in a report on Friday. Guggenheim increased their price objective on BeOne Medicines from $348.00 to $350.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. TD Securities reiterated a “buy” rating and issued a $334.00 price objective on shares of BeOne Medicines in a report on Thursday, April 24th. Sanford C. Bernstein set a $259.00 price objective on BeOne Medicines in a report on Thursday, March 13th. Finally, JMP Securities set a $348.00 price objective on BeOne Medicines in a report on Friday, February 28th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $320.67.

Check Out Our Latest Report on ONC

BeOne Medicines Stock Down 5.2%

Shares of BeOne Medicines stock opened at $241.20 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.71 and a current ratio of 1.96. The company has a market capitalization of $26.44 billion, a P/E ratio of -64.84 and a beta of 0.30. The company’s 50 day simple moving average is $247.90. BeOne Medicines has a 52 week low of $141.84 and a 52 week high of $287.88.

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

Insider Activity

In related news, COO Xiaobin Wu sold 51,921 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $281.40, for a total transaction of $14,610,569.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Titus B. Ball sold 134 shares of the stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $258.36, for a total value of $34,620.24. 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. 6.62% of the stock is currently owned by corporate insiders.

About BeOne Medicines

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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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Analyst Recommendations for BeOne Medicines (NASDAQ:ONC)

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