BeOne Medicines (NASDAQ:ONC) Upgraded by Wall Street Zen to Strong-Buy Rating

BeOne Medicines (NASDAQ:ONC) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday.

Other research analysts have also issued reports about the company. Guggenheim upped their target price on BeOne Medicines from $410.00 to $420.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Leerink Partners lifted their price target on shares of BeOne Medicines from $364.00 to $367.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. Morgan Stanley reissued an “overweight” rating and issued a $395.00 price target on shares of BeOne Medicines in a report on Thursday, May 7th. Zacks Research cut shares of BeOne Medicines from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 3rd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BeOne Medicines in a report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $390.92.

BeOne Medicines Trading Down 1.7%

Shares of ONC opened at $312.02 on Friday. The stock’s 50-day moving average price is $290.21 and its 200 day moving average price is $308.95. The company has a quick ratio of 3.27, a current ratio of 3.64 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $34.23 billion, a price-to-earnings ratio of 69.80 and a beta of 0.49. BeOne Medicines has a 12-month low of $253.95 and a 12-month high of $385.22.

BeOne Medicines (NASDAQ:ONC) last announced its quarterly earnings data on Wednesday, April 1st. The company reported $0.25 EPS for the quarter. BeOne Medicines had a return on equity of 12.06% and a net margin of 8.94%.The company had revenue of $1.51 billion during the quarter. As a group, research analysts predict that BeOne Medicines will post 5.86 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Xiaobin Wu sold 1,484 shares of the business’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $269.37, for a total value of $399,745.08. Following the sale, the chief operating officer owned 40 shares of the company’s stock, valued at $10,774.80. The trade was a 97.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO John Oyler sold 145,861 shares of the company’s stock in a transaction on Tuesday, July 14th. The shares were sold at an average price of $305.95, for a total value of $44,626,172.95. Following the completion of the sale, the chief executive officer owned 8,122 shares in the company, valued at $2,484,925.90. This trade represents a 94.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 233,647 shares of company stock worth $70,335,553 in the last 90 days. 6.19% of the stock is owned by company insiders.

Institutional Investors Weigh In On BeOne Medicines

Several institutional investors and hedge funds have recently made changes to their positions in ONC. Generali Investments Management Co LLC bought a new stake in shares of BeOne Medicines in the 2nd quarter worth about $2,280,000. Charles Schwab Trust Co bought a new position in BeOne Medicines during the 2nd quarter valued at about $855,000. Steadtrust LLC lifted its holdings in BeOne Medicines by 3.7% during the 2nd quarter. Steadtrust LLC now owns 1,400 shares of the company’s stock valued at $399,000 after purchasing an additional 50 shares during the last quarter. Empowered Funds LLC acquired a new position in BeOne Medicines in the first quarter valued at about $201,000. Finally, Bank of America Corp DE grew its stake in BeOne Medicines by 7.0% during the first quarter. Bank of America Corp DE now owns 405,273 shares of the company’s stock worth $120,354,000 after buying an additional 26,441 shares during the last quarter. Institutional investors and hedge funds own 48.55% of the company’s stock.

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.