BeOne Medicines (ONC) AI Stock Analysis

• Market Cap: $37.19B
• Dividend Yield: N/A
• Average Volume (3M): 365.18K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.02
• Revenue Growth: 51.16%
• EPS Growth: 50.65%
• Country: US
• Employees: 11,000
• Sector: Healthcare
• Sector Strength: 42
• Industry: Medical - Pharmaceuticals
• EPS (TTM): 0.00
• Shares Outstanding: 109,600,250
• 10 Day Avg. Volume: 360,071
• 30 Day Avg. Volume: 365,178
• PEG Ratio: -1.84
• Price to Book (P/B): 8.17
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -110.43
• Enterprise Value/Market Cap: 0.68
• Enterprise Value/Revenue: 1.76
• Enterprise Value/Gross Profit: 7.14
• Enterprise Value/Ebitda: -12.43
• 1Y Price Target: $338.21
• Price Target Upside: 14.82% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 9

• Rating: 65 Neutral
• Price Target: $300.00 ▲(1.85%Upside)

BeiGene's strong earnings call and technical momentum are offset by valuation concerns due to negative earnings and no dividend. Financial performance indicates growth potential but highlights the need for improved profitability.

Positive Factors

Market Leadership

Zanubrutinib remains the class leader in new patient prescriptions for both first-line and R/R CLL, and is now the top-selling BTKi in the US.

Product Differentiation

BeOne's sonrotoclax offers key differentiation over venetoclax, with greater potency and selectivity, and a simplified dosing regimen that reduces clinic visits.

Sales Growth

Sales of Beigene’s self-developed drugs, tislelizumab and zanubrutinib, show significant year-over-year growth, reflecting successful market performance.

Negative Factors

Efficacy Concerns

It is too early to assess the efficacy of BeOne’s CDK4 inhibitor due to limited follow-up, making current response data inconclusive.

Product Performance Decline

Sales of some of the licensed-in products like denosumab experienced a decline, highlighting areas of concern in product performance.

BeOne Medicines Business Overview & Revenue Model

Company Description

BeiGene (ONC) is a global biotechnology company that focuses on discovering, developing, and commercializing innovative molecularly targeted and immuno-oncology drugs for the treatment of cancer. The company operates primarily in the biopharmaceutical sector and is dedicated to advancing high-quality, affordable medicines to improve treatment outcomes and access for patients worldwide. BeiGene's core products include a range of oncology drugs that target various types of cancer, including hematological malignancies and solid tumors.

How the Company Makes Money

BeiGene makes money primarily through the development, production, and commercialization of its oncology drugs. The company's revenue model is based on the sale of its proprietary cancer treatments, which are marketed and distributed in multiple regions, including the United States, China, and other international markets. Key revenue streams include product sales, which are driven by the successful approval and market penetration of its drugs. Additionally, BeiGene partners with other pharmaceutical companies and research institutions to co-develop and commercialize cancer therapies, which can result in milestone payments, royalties, and shared profits. Significant partnerships, such as those with Amgen and Novartis, contribute to its earnings by expanding its product portfolio and global reach.

BeOne Medicines Financial Statement Overview

Summary

BeiGene shows strong revenue growth and improving gross profit margins. However, persistent negative net income and high operational costs, along with negative free cash flow, are key risks. The solid equity and cash positions provide stability but addressing profitability is essential for long-term sustainability.

Income Statement

BeiGene shows a strong revenue growth trajectory with a significant increase from $308.9M in 2020 to $4.18B in TTM 2025. Gross profit margins have improved vastly; however, the company has consistently reported negative EBIT and net income, indicating ongoing operational challenges and high costs relative to revenue.

Balance Sheet

The company maintains a solid equity position with an improving debt-to-equity ratio, indicating disciplined financial management amidst high growth. The equity ratio suggests strong asset backing, though consistent negative net income impacts ROE negatively.

Cash Flow

Operating cash flow has shown improvement in TTM 2025, yet free cash flow remains negative, reflecting substantial capital expenditures and investments. The cash position is strong, providing a buffer for ongoing cash outflows, but profitability remains a concern.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	3.81B	2.46B	1.42B	1.18B	308.87M
Gross Profit	3.22B	2.08B	-511.06M	-447.86M	-1.06B
EBITDA	-396.44M	-1.12B	-1.72B	-1.39B	-1.63B
Net Income	-644.79M	-881.71M	-2.00B	-1.41B	-1.60B
Balance Sheet
Total Assets	5.92B	5.81B	6.38B	8.65B	5.60B
Cash, Cash Equivalents and Short-Term Investments	2.63B	3.17B	4.53B	6.62B	4.66B
Total Debt	1.08B	930.18M	596.67M	694.64M	561.96M
Total Liabilities	2.59B	2.27B	2.00B	2.40B	1.73B
Stockholders Equity	3.33B	3.54B	4.38B	6.24B	3.87B
Cash Flow
Free Cash Flow	-669.77M	-1.75B	-1.97B	-1.61B	-1.51B
Operating Cash Flow	-140.63M	-1.16B	-1.50B	-1.30B	-1.28B
Investing Cash Flow	-548.35M	60.00M	1.08B	640.66M	-3.17B
Financing Cash Flow	193.45M	416.48M	-18.97M	3.64B	5.20B

BeOne Medicines Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 294.55
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ONC, the sentiment is Positive. The current price of 294.55 is above the 20-day moving average (MA) of 257.10, above the 50-day MA of 250.16, and above the 200-day MA of 229.49, indicating a bullish trend. The MACD of 7.74 indicates Negative momentum. The RSI at 71.95 is Negative, neither overbought nor oversold. The STOCH value of 91.90 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ONC.

BeOne Medicines Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BMRN	79 Outperform	$10.99B	21.26	9.64%	―	17.99%	152.10%
BIIB	70 Outperform	$18.31B	12.34	9.19%	―	1.25%	26.10%
ARGX	70 Outperform	$35.00B	40.65	17.33%	―	78.01%	―
ONC	65 Neutral	$37.19B	―	-11.44%	―	51.16%	50.65%
BNTX	58 Neutral	$26.45B	―	-3.87%	―	0.58%	-764.64%
BIO	56 Neutral	$6.71B	―	-27.51%	―	-2.46%	-637.11%
Sector *	52 Neutral	$7.34B	-0.07	-63.86%	2.36%	16.17%	0.23%

BeOne Medicines Corporate Events

BeiGene Holds Annual Shareholders Meeting, Key Resolutions Passed

On May 21, 2025, BeiGene, Ltd. held its Annual Meeting of Shareholders, where approximately 70% of the outstanding ordinary shares were represented. Key resolutions passed included the re-election of several directors, the ratification of Ernst & Young as auditors, and the approval of mandates for share issuance and repurchase. These decisions are poised to influence BeiGene’s strategic direction and operational flexibility, potentially impacting shareholder value and market positioning.

The most recent analyst rating on (ONC) stock is a Buy with a $317.00 price target. To see the full list of analyst forecasts on BeiGene stock, see the ONC Stock Forecast page.