BeOne Medicines (NASDAQ:ONC) Research Coverage Started at Wolfe Research

Wolfe Research started coverage on shares of BeOne Medicines (NASDAQ:ONC) in a research report report published on Friday morning, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $340.00 target price on the stock.

Several other brokerages have also issued reports on ONC. Sanford C. Bernstein raised BeOne Medicines from a “hold” rating to an “outperform” rating and set a $414.00 target price for the company in a research report on Monday, January 12th. Guggenheim boosted their price target on shares of BeOne Medicines from $400.00 to $410.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Morgan Stanley restated an “overweight” rating and set a $405.00 price target on shares of BeOne Medicines in a research report on Thursday, January 8th. Barclays raised their price objective on shares of BeOne Medicines from $394.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, February 27th. Finally, Wall Street Zen cut shares of BeOne Medicines from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 28th. Eleven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, BeOne Medicines has an average rating of “Moderate Buy” and a consensus target price of $385.08.

BeOne Medicines Price Performance

Shares of NASDAQ ONC opened at $283.03 on Friday. The company has a market capitalization of $31.05 billion, a PE ratio of 112.31 and a beta of 0.53. The company has a quick ratio of 3.08, a current ratio of 3.41 and a debt-to-equity ratio of 0.22. The stock’s 50 day moving average price is $323.92 and its 200-day moving average price is $326.81. BeOne Medicines has a twelve month low of $196.45 and a twelve month high of $385.22.

BeOne Medicines (NASDAQ:ONC) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $1.60 by ($1.02). BeOne Medicines had a net margin of 5.37% and a return on equity of 10.70%. The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.45 billion. On average, equities analysts anticipate that BeOne Medicines will post -5.82 EPS for the current year.

Insider Activity at BeOne Medicines

In other news, SVP Chan Henry Lee sold 1,660 shares of the stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $349.52, for a total transaction of $580,203.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders sold 2,665 shares of company stock worth $902,792. 6.62% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BeOne Medicines

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ONC. PNC Financial Services Group Inc. bought a new stake in shares of BeOne Medicines during the 2nd quarter valued at $228,000. Geode Capital Management LLC purchased a new stake in BeOne Medicines during the 2nd quarter worth about $8,622,000. Creative Planning bought a new position in BeOne Medicines in the 2nd quarter worth about $1,448,000. Cetera Investment Advisers bought a new position in BeOne Medicines in the 2nd quarter worth about $455,000. Finally, Legal & General Group Plc purchased a new position in BeOne Medicines during the 2nd quarter valued at about $13,857,000. 48.55% of the stock is currently owned by institutional investors.

BeOne Medicines Company Profile

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. The company was founded by Xiao Dong Wang and John V. Oyler on October 28, 2010 and is headquartered in Basel, Switzerland.