BeOne Medicines (NASDAQ:ONC) Coverage Initiated at Truist Financial

Truist Financial initiated coverage on shares of BeOne Medicines (NASDAQ:ONC) in a report released on Monday, Marketbeat.com reports. The brokerage set a “buy” rating and a $400.00 price target on the stock. Truist Financial’s target price points to a potential upside of 19.34% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. Morgan Stanley increased their price objective on BeOne Medicines from $350.00 to $383.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Jefferies Financial Group reaffirmed a “buy” rating and set a $420.00 price target on shares of BeOne Medicines in a research note on Monday, November 17th. Citigroup increased their price target on shares of BeOne Medicines from $399.00 to $405.00 and gave the company a “buy” rating in a report on Monday, November 10th. Royal Bank Of Canada boosted their price objective on shares of BeOne Medicines from $395.00 to $408.00 and gave the stock an “outperform” rating in a report on Tuesday, November 18th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of BeOne Medicines in a research report on Wednesday, October 8th. Twelve analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $365.79.

BeOne Medicines Stock Performance

Shares of ONC stock opened at $335.17 on Monday. The company has a current ratio of 2.39, a quick ratio of 2.17 and a debt-to-equity ratio of 0.03. The stock has a 50 day simple moving average of $332.47 and a 200-day simple moving average of $297.26. The company has a market cap of $39.73 billion, a price-to-earnings ratio of 657.20 and a beta of 0.31. BeOne Medicines has a 12-month low of $170.99 and a 12-month high of $385.22.

Insider Activity

In other BeOne Medicines news, insider Lai Wang sold 5,000 shares of BeOne Medicines stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $350.06, for a total transaction of $1,750,300.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Chan Henry Lee sold 10,671 shares of the company’s stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $350.40, for a total transaction of $3,739,118.40. The SEC filing for this sale provides additional information. Insiders sold a total of 81,254 shares of company stock worth $27,971,587 in the last three months. Company insiders own 6.62% of the company’s stock.

Institutional Investors Weigh In On BeOne Medicines

A number of large investors have recently bought and sold shares of ONC. Primecap Management Co. CA acquired a new position in shares of BeOne Medicines in the second quarter worth $1,231,720,000. Capital International Investors increased its position in BeOne Medicines by 3.3% during the 3rd quarter. Capital International Investors now owns 5,046,058 shares of the company’s stock worth $1,716,883,000 after purchasing an additional 161,052 shares in the last quarter. Temasek Holdings Private Ltd purchased a new stake in BeOne Medicines during the 2nd quarter worth about $244,603,000. Marshall Wace LLP acquired a new position in BeOne Medicines in the 2nd quarter valued at about $113,190,000. Finally, Bank of America Corp DE lifted its holdings in BeOne Medicines by 23.5% in the 3rd quarter. Bank of America Corp DE now owns 345,256 shares of the company’s stock valued at $117,629,000 after purchasing an additional 65,763 shares in the last quarter. Institutional investors and hedge funds own 48.55% of the company’s stock.

About BeOne Medicines

BeOne Medicines Ltd. is a global oncology company domiciled in Switzerland that is discovering and developing innovative treatments that are more affordable and accessible to cancer patients worldwide. The firm portfolio spanning hematology and solid tumors, BeOne is expediting development of its diverse pipeline of novel therapeutics through its internal capabilities and collaborations.