BeOne Medicines (NASDAQ:ONC) Lowered to Buy Rating by Wall Street Zen

BeOne Medicines (NASDAQ:ONC) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

ONC has been the topic of several other research reports. Guggenheim boosted their price objective on shares of BeOne Medicines from $410.00 to $420.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Leerink Partners raised their target price on BeOne Medicines from $364.00 to $367.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. Zacks Research raised BeOne Medicines from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 4th. Royal Bank Of Canada upped their price target on BeOne Medicines from $425.00 to $436.00 and gave the company an “outperform” rating in a research report on Tuesday, June 2nd. Finally, Truist Financial reissued a “buy” rating and issued a $413.00 price target (up from $411.00) on shares of BeOne Medicines in a research note on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $390.00.

BeOne Medicines Price Performance

NASDAQ:ONC opened at $270.15 on Friday. BeOne Medicines has a one year low of $239.25 and a one year high of $385.22. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.64 and a quick ratio of 3.27. The company has a market cap of $29.64 billion, a PE ratio of 60.44 and a beta of 0.49. The firm’s 50 day simple moving average is $295.32 and its 200 day simple moving average is $312.15.

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

Insider Activity at BeOne Medicines

In related news, CEO John Oyler sold 3,693 shares of the business’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $265.55, for a total value of $980,676.15. Following the transaction, the chief executive officer owned 2,043 shares in the company, valued at $542,518.65. The trade was a 64.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Xiaobin Wu sold 1,357 shares of the company’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $266.76, for a total transaction of $361,993.32. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 21,466 shares of company stock valued at $5,768,875 over the last 90 days. 6.19% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ONC. EFG International AG bought a new stake in shares of BeOne Medicines during the 4th quarter valued at about $25,000. Leonteq Securities AG bought a new stake in BeOne Medicines in the fourth quarter worth approximately $35,000. Daiwa Securities Group Inc. bought a new stake in BeOne Medicines in the second quarter worth approximately $35,000. CWM LLC lifted its stake in 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 buying an additional 39 shares during the period. Finally, Group One Trading LLC acquired a new position in BeOne Medicines in the fourth quarter valued at approximately $61,000. 48.55% of the stock is owned by institutional investors and hedge funds.

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.