BeOne Medicines (NASDAQ:ONC) Given New $330.00 Price Target at Morgan Stanley

BeOne Medicines (NASDAQ:ONC) had its price target lifted by equities researchers at Morgan Stanley from $313.00 to $330.00 in a report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s target price indicates a potential upside of 36.82% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. TD Securities restated a “buy” rating and set a $334.00 price target on shares of BeOne Medicines in a research report on Thursday, April 24th. JMP Securities set a $348.00 price target on shares of BeOne Medicines in a research report on Friday, February 28th. Bank of America upgraded shares of BeOne Medicines from a “neutral” rating to a “buy” rating and upped their price target for the stock from $207.00 to $320.00 in a research report on Monday, March 3rd. Guggenheim upped their price target 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. Finally, Macquarie upped their price target on shares of BeOne Medicines from $259.00 to $313.00 and gave the stock an “outperform” rating in a research report on Friday, February 28th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $320.67.

BeOne Medicines Price Performance

ONC opened at $241.20 on Friday. The firm has a market capitalization of $26.44 billion, a PE ratio of -64.84 and a beta of 0.30. The company has a fifty day moving average of $247.90. The company has a quick ratio of 1.71, a current ratio of 1.96 and a debt-to-equity ratio of 0.05. BeOne Medicines has a 12-month low of $141.84 and a 12-month high of $287.88.

BeOne Medicines (NASDAQ:ONC) last released its earnings results on Wednesday, May 7th. The company reported $1.22 earnings per share for the quarter, beating the consensus estimate of ($0.71) by $1.93. BeOne Medicines had a negative net margin of 9.40% and a negative return on equity of 7.55%. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.12 billion. On average, equities research analysts forecast that BeOne Medicines will post -5.82 earnings per share for the current fiscal year.

Insider Transactions at BeOne Medicines

In other news, insider Titus B. Ball sold 134 shares of the business’s 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Xiaobin Wu sold 51,921 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $281.40, for a total transaction of $14,610,569.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 203,452 shares of company stock worth $51,856,379. 6.62% of the stock is owned by insiders.

About BeOne Medicines

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.