BeOne Medicines (NASDAQ:ONC) Upgraded at Wall Street Zen

BeOne Medicines (NASDAQ:ONC) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Sunday.

Several other equities research analysts have also commented on the company. Truist Financial restated a “buy” rating and set a $413.00 target price (up from $411.00) on shares of BeOne Medicines in a research report on Thursday, May 7th. Guggenheim lifted their target price on BeOne Medicines from $410.00 to $420.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of BeOne Medicines in a research note on Monday, April 20th. Royal Bank Of Canada raised their price objective on shares of BeOne Medicines from $425.00 to $436.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 2nd. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $395.00 price objective on shares of BeOne Medicines in a research note on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $390.00.

BeOne Medicines Stock Performance

Shares of ONC opened at $279.89 on Friday. The company has a current ratio of 3.64, a quick ratio of 3.27 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $30.71 billion, a P/E ratio of 62.62 and a beta of 0.49. The firm’s fifty day simple moving average is $291.75 and its two-hundred day simple moving average is $310.21. BeOne Medicines has a 12 month low of $239.25 and a 12 month high of $385.22.

BeOne Medicines (NASDAQ:ONC) last issued its quarterly earnings results on Wednesday, April 1st. The company reported $0.25 earnings per share for the quarter. BeOne Medicines had a return on equity of 12.06% and a net margin of 8.94%.The firm had revenue of $1.51 billion during the quarter. As a group, analysts predict that BeOne Medicines will post 6.14 EPS for the current year.

Insider Transactions at BeOne Medicines

In related news, COO Xiaobin Wu sold 1,292 shares of BeOne Medicines stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $276.26, for a total value of $356,927.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO John Oyler sold 3,410 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $273.78, for a total transaction of $933,589.80. Following the completion of the sale, the chief executive officer owned 1,610 shares in the company, valued at $440,785.80. This represents a 67.93% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 27,236 shares of company stock valued at $7,354,951. Company insiders own 6.19% of the company’s stock.

Hedge Funds Weigh In On BeOne Medicines

A number of hedge funds have recently added to or reduced their stakes in the stock. Mariner LLC increased its holdings in BeOne Medicines by 3.8% during the 4th quarter. Mariner LLC now owns 883 shares of the company’s stock worth $269,000 after purchasing an additional 32 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of BeOne Medicines by 10.7% in the fourth quarter. Signaturefd LLC now owns 340 shares of the company’s stock valued at $103,000 after purchasing an additional 33 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of BeOne Medicines by 21.8% in the fourth quarter. Farther Finance Advisors LLC now owns 218 shares of the company’s stock valued at $66,000 after purchasing an additional 39 shares in the last quarter. CWM LLC lifted its holdings in shares of BeOne Medicines by 32.8% in the fourth quarter. CWM LLC now owns 158 shares of the company’s stock valued at $48,000 after purchasing an additional 39 shares in the last quarter. Finally, Benjamin Edwards Inc. boosted its position in shares of BeOne Medicines by 8.0% during the fourth quarter. Benjamin Edwards Inc. now owns 690 shares of the company’s stock valued at $210,000 after buying an additional 51 shares during 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. The company was founded by Xiao Dong Wang and John V. Oyler on October 28, 2010 and is headquartered in Basel, Switzerland.