BeOne Medicines (NASDAQ:ONC) Given New $416.00 Price Target at Truist Financial

BeOne Medicines (NASDAQ:ONC) had its price objective increased by research analysts at Truist Financial from $413.00 to $416.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price objective indicates a potential upside of 34.43% from the stock’s current price.

A number of other equities analysts also recently commented on the stock. Wells Fargo & Company initiated coverage on shares of BeOne Medicines in a report on Monday, May 4th. They issued an “overweight” rating and a $400.00 target price for the company. Zacks Research upgraded shares of BeOne Medicines from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 4th. Barclays lifted their price objective on shares of BeOne Medicines from $405.00 to $409.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of BeOne Medicines in a research note on Monday, April 20th. Finally, Wolfe Research began coverage on shares of BeOne Medicines in a research note on Friday, March 27th. They issued an “outperform” rating and a $340.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $390.23.

BeOne Medicines Trading Up 4.0%

Shares of NASDAQ:ONC opened at $309.46 on Tuesday. BeOne Medicines has a 12-month low of $240.00 and a 12-month high of $385.22. The business’s fifty day simple moving average is $289.42 and its 200-day simple moving average is $309.21. The company has a market capitalization of $33.95 billion, a PE 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.

BeOne Medicines (NASDAQ:ONC) last issued its quarterly earnings data 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, equities research analysts predict that BeOne Medicines will post 6.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Lai Wang sold 1,367 shares of the stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $269.38, for a total value of $368,242.46. Following the transaction, the insider directly owned 40 shares of the company’s stock, valued at approximately $10,775.20. This represents a 97.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Xiaobin Wu sold 1,484 shares of the firm’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $269.37, for a total value of $399,745.08. Following the completion of the transaction, the chief operating officer owned 40 shares of the company’s stock, valued at approximately $10,774.80. The trade was a 97.38% decrease in their ownership of the stock. 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 27,236 shares of company stock worth $7,354,951 in the last 90 days. Insiders own 6.19% of the company’s stock.

Hedge Funds Weigh In On BeOne Medicines

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Mariner LLC lifted its stake in BeOne Medicines by 3.8% during the 4th quarter. Mariner LLC now owns 883 shares of the company’s stock valued at $269,000 after acquiring an additional 32 shares during the period. Signaturefd LLC lifted its position in BeOne Medicines by 10.7% during the fourth quarter. Signaturefd LLC now owns 340 shares of the company’s stock valued at $103,000 after purchasing an additional 33 shares during the period. Farther Finance Advisors LLC boosted its holdings in 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 during the last quarter. CWM LLC boosted its holdings 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 purchasing an additional 39 shares during the last quarter. Finally, Benjamin Edwards Inc. grew its position in BeOne Medicines by 8.0% during the 4th quarter. Benjamin Edwards Inc. now owns 690 shares of the company’s stock worth $210,000 after purchasing an additional 51 shares during the period. 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.