BeOne Medicines (NASDAQ:ONC) Shares Gap Up – Time to Buy?

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) gapped up before the market opened on Friday . The stock had previously closed at $276.95, but opened at $286.08. BeOne Medicines shares last traded at $286.1510, with a volume of 54,548 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ONC. Wall Street Zen cut shares of BeOne Medicines from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 28th. Guggenheim raised their target price on BeOne Medicines from $400.00 to $410.00 and gave the company a “buy” rating in a report on Friday, February 27th. Sanford C. Bernstein upgraded BeOne Medicines from a “hold” rating to an “outperform” rating and set a $414.00 price target for the company in a report on Monday, January 12th. Royal Bank Of Canada lifted their price objective on shares of BeOne Medicines from $417.00 to $425.00 and gave the stock an “outperform” rating in a report on Thursday, February 26th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $405.00 target price on shares of BeOne Medicines in a report on Thursday, January 8th. Eleven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $385.08.

BeOne Medicines Stock Performance

The firm has a market cap of $31.25 billion, a PE ratio of 112.92 and a beta of 0.53. The company has a quick ratio of 3.08, a current ratio of 3.41 and a debt-to-equity ratio of 0.22. The company has a 50-day simple moving average of $325.02 and a two-hundred day simple moving average of $327.33.

BeOne Medicines (NASDAQ:ONC) last announced its earnings results on Thursday, February 26th. The company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.60 by ($1.02). The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.45 billion. BeOne Medicines had a net margin of 5.37% and a return on equity of 10.70%. As a group, equities 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 other BeOne Medicines news, SVP Chan Henry Lee sold 341 shares of the business’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $300.00, for a total value of $102,300.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 2,665 shares of company stock valued at $902,792 over the last 90 days. Insiders own 6.62% of the company’s stock.

Hedge Funds Weigh In On BeOne Medicines

Institutional investors have recently bought and sold shares of the company. EFG International AG purchased a new stake in BeOne Medicines in the fourth quarter worth $25,000. Anchor Investment Management LLC purchased a new position in shares of BeOne Medicines during the 2nd quarter valued at $26,000. Leonteq Securities AG bought a new position in shares of BeOne Medicines during the 4th quarter worth $35,000. Daiwa Securities Group Inc. bought a new position in shares of BeOne Medicines during the 2nd quarter worth $35,000. Finally, 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. Hedge funds and other institutional investors own 48.55% of the company’s stock.

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.