Guggenheim Lifts BeOne Medicines (ONC) Price Target, Keeps Buy Rating

BeOne Medicines AG (NASDAQ:ONC) is one of the 10 Best Aggressive Growth Stocks to Buy According to Wall Street Analysts. On May 7, Guggenheim analyst Michael Schmidt increased the firm’s price target from $410 to $420 while maintaining a Buy rating on the stock.

This update comes after the company reported a topline beat in Q1 and raised its 2026 guidance. Guggenheim updated its model following the quarterly results and called BeOne Medicines AG (NASDAQ:ONC) its top mid-cap stock pick.

Guggenheim Lifts BeOne Medicines (ONC) Price Target, Keeps Buy Rating

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The company reported total global revenue of $1.5 billion, up 35% compared to the same period last year. Foundational BRUKINSA (zanubrutinib) global revenues reached $1.1 billion, up 38% year-over-year.

Additionally, BeOne Medicines AG (NASDAQ:ONC) reported improved profitability as gross margin as a percentage of global product sales rose to 89% for the first quarter, compared to 85% in the same period last year on a GAAP basis.

The company said this improvement was mainly driven by a proportionally higher sales mix of global BRUKINSA compared to other products in its portfolio. Lower costs for both BRUKINSA and TEVIMBRA, helped by productivity improvements, also supported the increase in margins.

BeOne Medicines AG (NASDAQ:ONC) is a global oncology company focused on discovering and developing innovative treatments for cancer patients worldwide.

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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