5 Most Promising Biotech Stocks to Buy Now

3. BeOne Medicines AG (NASDAQ:ONC) 

On May 8, Morgan Stanley raised its price target for BeOne Medicines AG (NASDAQ:ONC) from $389 to $395. It retained an “Overweight rating” on the shares.

On May 7, 2026, Morningstar reported that BeOne Medicines AG (NASDAQ:ONC) posted first-quarter GAAP net income of $227.4 million, surging from $1.3 million a year earlier. The revenue climbed by 35% because of strong flagship cancer drug sales expanding across the U.S. and Europe.

Profitability sharpened, posting adjusted EPS of $3.24, the company said.

Chief executive John V. Oyler said in the filing that earnings supported continued global growth, while Nomura analyst Jialin Zhang called the guidance raise “satisfactory,” backing a positive view, Dow Jones reported.

The company also recently landed a global licensing agreement with Chinese biotech firm Huahui Health worth up to $1.9 billion for exclusive rights to an oncology treatment. It joined a growing list of global biopharma companies looking to capitalize on China’s emerging pipeline of novel drugs.

BeOne Medicines AG (NASDAQ:ONC) is a global oncology company. It is based in Switzerland and concentrates on discovering and creating treatments that are cheaper and more accessible to cancer patients around the world.