Morgan Stanley Maintains an “Overweight” Rating on BeOne Medicines AG (ONC)

BeOne Medicines AG (NASDAQ:ONC) is one of the 8 Most Promising Biotech Stocks to Buy Now.

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.

Photo by National Cancer Institute on Unsplash

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.

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