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

Wall Street Zen upgraded shares of BeOne Medicines (NASDAQ:ONC) from a buy rating to a strong-buy rating in a research report released on Saturday.

A number of other analysts have also issued reports on ONC. Guggenheim lifted their target price on BeOne Medicines from $350.00 to $365.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Royal Bank Of Canada upped their target price on BeOne Medicines from $349.00 to $364.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. JPMorgan Chase & Co. boosted their price objective on BeOne Medicines from $321.00 to $345.00 and gave the stock an “overweight” rating in a research report on Thursday, July 17th. TD Securities restated a “buy” rating and issued a $334.00 target price on shares of BeOne Medicines in a research report on Thursday, April 24th. Finally, Morgan Stanley increased their price objective on BeOne Medicines from $313.00 to $330.00 and gave the company an “overweight” rating in a research report on Friday, June 27th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $330.89.

BeOne Medicines Stock Performance

BeOne Medicines stock opened at $289.75 on Friday. The stock has a market capitalization of $31.76 billion, a P/E ratio of -167.48 and a beta of 0.27. The company has a quick ratio of 1.72, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. BeOne Medicines has a fifty-two week low of $170.99 and a fifty-two week high of $313.29. The business’s fifty day moving average is $270.54.

BeOne Medicines (NASDAQ:ONC) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.36. BeOne Medicines had a negative return on equity of 1.22% and a negative net margin of 3.89%. The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.24 billion. On average, analysts forecast that BeOne Medicines will post -5.82 EPS for the current fiscal year.

Insider Buying and Selling at BeOne Medicines

In other news, COO Xiaobin Wu sold 1,934 shares of BeOne Medicines stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $253.15, for a total value of $489,592.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John Oyler sold 27,802 shares of BeOne Medicines stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $253.38, for a total transaction of $7,044,470.76. The disclosure for this sale can be found here. Insiders have sold 102,923 shares of company stock worth $26,960,687 in the last three months. 6.62% of the stock is currently owned by company insiders.

Institutional Trading of BeOne Medicines

Hedge funds and other institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd acquired a new stake in BeOne Medicines during the 2nd quarter worth $28,000. Farther Finance Advisors LLC bought a new stake in BeOne Medicines in the 2nd quarter valued at $39,000. Signaturefd LLC bought a new stake in BeOne Medicines in the 2nd quarter valued at $49,000. Parallel Advisors LLC bought a new stake in BeOne Medicines in the 2nd quarter valued at $59,000. Finally, FNY Investment Advisers LLC bought a new stake in BeOne Medicines during the 2nd quarter worth about $121,000. 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.