The kanji and the word are exactly the same. That means they share meanings as well.

Since this word is made up of a single kanji, it should use the kun'yomi reading. When learning the kanji, you didn't learn that reading, so here's a mnemonic to help you with this word: Take a look at your own bones. They have been upgraded with special technology, allowing you to hone (ほね) in on targets, then shoot your bones at them. Go ahead and imagine yourself using this crazy new bone technology. Wolverine is jealous.