Wall Street Zen Downgrades BeOne Medicines (NASDAQ:ONC) to Buy

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

Other equities analysts have also recently issued reports about the stock. Morgan Stanley reissued an “overweight” rating and issued a $395.00 price objective on shares of BeOne Medicines in a research note on Thursday, May 7th. Truist Financial reaffirmed a “buy” rating and issued a $413.00 target price (up from $411.00) on shares of BeOne Medicines in a report on Thursday, May 7th. Jefferies Financial Group lowered shares of BeOne Medicines from a “buy” rating to a “hold” rating and dropped their price target for the stock from $420.00 to $290.00 in a research note on Monday, March 16th. Wells Fargo & Company assumed coverage on shares of BeOne Medicines in a report on Monday, May 4th. They set an “overweight” rating and a $400.00 price target for the company. Finally, Zacks Research upgraded shares of BeOne Medicines from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $390.00.

BeOne Medicines Stock Performance

NASDAQ:ONC opened at $297.65 on Monday. The firm has a market cap of $32.66 billion, a P/E ratio of 66.59 and a beta of 0.49. 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’s 50 day simple moving average is $289.22 and its 200-day simple moving average is $309.17. BeOne Medicines has a 12-month low of $240.00 and a 12-month high of $385.22.

BeOne Medicines (NASDAQ:ONC) last released its quarterly earnings results 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 business had revenue of $1.51 billion during the quarter. Equities analysts anticipate that BeOne Medicines will post 6.14 EPS for the current year.

Insiders Place Their Bets

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

Institutional Trading of BeOne Medicines

A number of large investors have recently made changes to their positions in the stock. EFG International AG purchased a new position in shares of BeOne Medicines during the 4th quarter worth about $25,000. Leonteq Securities AG purchased a new stake in BeOne Medicines in the fourth quarter valued at approximately $35,000. Daiwa Securities Group Inc. purchased a new stake in BeOne Medicines in the second quarter valued at approximately $35,000. CWM LLC increased its position in BeOne Medicines by 32.8% during the fourth quarter. CWM LLC now owns 158 shares of the company’s stock worth $48,000 after purchasing an additional 39 shares during the last quarter. Finally, Group One Trading LLC acquired a new position in BeOne Medicines during the fourth quarter worth approximately $61,000. 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.