Wolfe Research Initiates Coverage of BeOne Medicines AG (ONC) with Outperform Rating

Jeff Lewis

Sat, April 4, 2026 at 8:17 AM EDT 1 min read

BeOne Medicines AG (NASDAQ:ONC) is one of the

7 Fastest Growing European Stocks to Invest In. On March 26, 2026, Wolfe Research analyst Kalpit Patel initiated coverage on BeOne Medicines AG (NASDAQ:ONC) with an Outperform rating and a $340 price target, saying the company runs one of the broadest development programs in biotech. The analyst highlighted Brukinsa as a “category-leading flagship drug” alongside a “credible” pipeline, adding that concerns around fixed-duration therapies appear “overdone” and could present a buying opportunity.

On March 23, 2026, BeOne Medicines AG (NASDAQ:ONC) received orphan drug designation from the FDA for its hepatocellular carcinoma treatment.

On March 16, 2026, Jefferies analyst Faisal Khurshid downgraded BeOne Medicines AG (NASDAQ:ONC) to Hold from Buy with a $290 price target, down from $420, stating that while Brukinsa remains a leading hematology asset, the stock “is not mispriced” at current levels. The firm added that leadership in chronic lymphocytic leukemia is already reflected, with future growth drivers expected to play out more gradually.

BeOne Medicines AG (NASDAQ:ONC) develops oncology treatments across global markets.

While we acknowledge the potential of ONC as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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