BeOne Medicines AG

ONC · SHANGHAI

$377.63−$4.64 (−1.21%)TodayMarket closed · Oct 23, 7:30 PM ET

Prev close $382.27

ONC analyst rating

BuyConsensus of 14 analysts over the last 12 months. 100% rate it a buy.

Strong buy0
Buy14
Hold0
Underperform0
Sell0

12-month price target · 8 analysts

Average $547.66 (+45.0% upside)

Low: $441.87
Now: $377.63
High: $682.59

Upgrades and downgrades

The latest rating actions, newest first

ONC analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
RBC Capital	Oct 8, 2026	Maintains	Outperform	$450.00 → $459.00	47%
Truist Securities	Oct 7, 2026	Maintains	Buy	$418.00 → $420.00	48%
JP Morgan	Oct 1, 2026	Maintains	Overweight	$425.00 → $445.00	58%
Barclays	Sep 10, 2026	Maintains	Overweight	$407.00 → $415.00	49%
TD Cowen	Aug 6, 2026	Maintains	Buy	$424.00 → $454.00	49%
RBC Capital	Aug 6, 2026	Maintains	Outperform	$451.00 → $450.00	47%
Truist Securities	Aug 6, 2026	Maintains	Buy	$416.00 → $418.00	48%
Guggenheim	Aug 6, 2026	Maintains	Buy	$420.00 → $430.00	54%
Barclays	Aug 6, 2026	Maintains	Overweight	$403.00 → $407.00	46%
Citizens	Aug 6, 2026	Maintains	Market Outperform	$396.00 → $405.00	37%

The case for and against

Updated Oct 21, 2026

Bull case

BeOne Medicines is supported by a durable Brukinsa franchise that drove 2Q26 revenue to $1.7 billion, up 29% year over year, with global Brukinsa sales of about $1.25 billion and management guiding full-year revenue to $6.6-$6.8 billion. The company also benefits from a strong balance sheet with $5.28 billion in cash and equivalents, while margin discipline showed through lower-than-expected SG&A and better-than-expected diluted EPS of $2.05, reinforcing near-term earnings quality. Beyond the core hematology business, more than 50 drugs in clinical trials and late-stage solid tumor programs such as sonrotoclax, TEVIMBRA, and the advancing Phase 3 pipeline create multiple catalysts that can broaden revenue growth and reduce dependence on a single asset.

Bear case

BeOne Medicines is a high-risk oncology company whose investment case is heavily dependent on Brukinsa, which accounted for 74% of total revenue as of 2025, leaving the business exposed to concentration risk and any slowdown in that franchise. Its remaining commercial assets, Beqalzi and Tevimbra, are largely China-dependent, while competition from AbbVie and AstraZeneca and the need for differentiated clinical data increase the odds of weaker-than-expected adoption. With more than 50 drugs still in clinical trials, the company faces substantial clinical, regulatory, and capital-intensive development risk, and the cited ADC precedent shows how quickly promising programs can fail to translate into value.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.