BeOne Medicines (ONC) Downgraded Despite Strong Oncology Portfolio

BeOne Medicines AG (NASDAQ:ONC) ranks among the oversold European stocks to buy. On March 16, Jefferies lowered BeOne Medicines AG (NASDAQ:ONC) to Hold from Buy and reduced its price target to $290 from $420. According to analyst Faisal Khurshid, Brukinsa continues to be one of the strongest assets in hematology and is predicted to continue to lead in CLL for an extended period.

According to Khurshid, leadership in CLL looks to be firmly established, though the next growth bases, BTK, CDAC, and Sonro, are slow to develop. The analyst noted that BeOne Medicines AG (NASDAQ:ONC) is a quality company, but it is not an appealing buy at its current price.

Meanwhile, on February 27, Truist Securities boosted its price target for BeOne Medicines AG (NASDAQ:ONC) to $412 from $400, retaining a Buy rating on the company’s shares. Truist stated that the forecast for Brukinsa indicates healthy growth, regardless of any major label expansion. Additionally, in a one-on-one meeting with the firm, management stated that the guidance already recognizes increasing BTK rivalry.

BeOne Medicines AG (NASDAQ:ONC) is a biotechnology company focused on discovering, developing, and commercializing innovative, affordable oncology treatments. It is known for products such as Brukinsa and Tevimbra and utilizes a worldwide network for R&D and manufacturing.

While we acknowledge the risk and potential of ONC as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than ONC and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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