BeOne Medicines (ONC) AI Stock Analysis

• Market Cap: $34.69B
• Dividend Yield: N/A
• Average Volume (3M): 402.76K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.90
• Revenue Growth: 51.01%
• EPS Growth: 50.72%
• Country: US
• Employees: 11,000
• Sector: Healthcare
• Sector Strength: 37
• Industry: Medical - Pharmaceuticals
• EPS (TTM): 0.91
• Shares Outstanding: 109,600,310
• 10 Day Avg. Volume: 469,033
• 30 Day Avg. Volume: 402,763
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: 0.74
• Enterprise Value/Revenue: 6.11
• Enterprise Value/Gross Profit: 7.20
• Enterprise Value/Ebitda: -217.41
• 1Y Price Target: $356.83
• Price Target Upside: 23.82% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 10

• Rating: 58 Neutral
• Price Target: $320.00 ▲(11.04% Upside)

BeOne Medicines' strong earnings call performance and positive technical indicators are offset by weak financial performance and poor valuation metrics. The company's robust revenue growth and market leadership are significant strengths, but profitability challenges and a high P/E ratio weigh heavily on the overall score.

Positive Factors

Financial Performance

ONC reported total product revenues of ~$1.3bn, representing a ~17% QoQ increase.

Future Prospects

Management raised guidance, underscoring confidence in the business and its future prospects.

Market Leadership

Brukinsa maintained its leadership position in the US market, with revenue growth significantly outpacing peers.

Negative Factors

Clinical Development

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

Efficacy Challenges

Promising safety/tolerability shown for BGB-43395 (CDK4i), although efficacy numerically lower than PFE's atirmociclib.

BeOne Medicines Business Overview & Revenue Model

Company Description

BeOne Medicines, formerly known as BeiGene, is a global oncology company focused on discovering, developing, and commercializing innovative cancer therapies. Founded in 2010 and headquartered in Cambridge, Massachusetts—with operations spanning over 45 countries across six continents—the company rebranded as BeOne in late 2024 and redomiciled to Basel, Switzerland in 2025. BeOne has established itself as a leader in immuno-oncology and targeted therapies, with key assets including Tevimbra (tislelizumab), a PD-1 monoclonal antibody approved for multiple cancer indications globally, and Brukinsa (zanubrutinib), a Bruton's tyrosine kinase (BTK) inhibitor that surpassed $1.3 billion in annual sales and is approved in major markets such as the U.S., Europe, and China. The company’s strategy combines internal R&D with the development of assets sourced from external partnerships, driving a robust pipeline across hematologic malignancies and solid tumors.

How the Company Makes Money

BeOne Medicines generates revenue primarily through the development and commercialization of its drug candidates. The company earns money by conducting clinical trials and subsequently securing regulatory approvals for its therapies, which allows it to market and sell these products to healthcare providers and patients. Key revenue streams include product sales, licensing agreements with larger pharmaceutical companies, and potential milestone payments and royalties from collaborative partnerships. Additionally, BeOne may benefit from grants or funding opportunities aimed at supporting innovative research in oncology, contributing to its overall earnings.

BeOne Medicines Financial Statement Overview

Summary

BeiGene shows strong revenue growth and improved gross profit margins but struggles with persistent negative net income and high operational costs. A solid equity and cash position provide stability, yet profitability concerns persist.

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: Neutral
• Last Price: 288.18
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ONC, the sentiment is Neutral. The current price of 288.18 is below the 20-day moving average (MA) of 292.65, above the 50-day MA of 269.54, and above the 200-day MA of 234.50, indicating a neutral trend. The MACD of 9.56 indicates Positive momentum. The RSI at 52.13 is Neutral, neither overbought nor oversold. The STOCH value of 37.03 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for ONC.

BeOne Medicines Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BMRN	76 Outperform	$11.01B	16.98	11.62%	―	17.38%	153.58%
ARGX	74 Outperform	$40.52B	31.09	24.75%	―	89.58%	―
BIIB	73 Outperform	$18.96B	12.22	9.13%	―	3.48%	31.44%
BIO	59 Neutral	$7.15B	22.52	4.59%	―	-0.33%	―
ONC	58 Neutral	$34.69B	―	-4.95%	―	51.01%	50.72%
BNTX	58 Neutral	$26.84B	―	-1.81%	―	0.58%	-764.64%
Sector *	51 Neutral	$7.27B	-0.06	-62.84%	2.34%	15.16%	-2.86%

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.