Wall Street Zen Upgrades BeOne Medicines (NASDAQ:ONC) to “Strong-Buy”

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

A number of other research firms have also commented on ONC. Zacks Research raised shares of BeOne Medicines from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 18th. Royal Bank Of Canada upped their price objective on shares of BeOne Medicines from $349.00 to $364.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BeOne Medicines in a research note on Saturday, September 27th. Guggenheim increased their price objective on BeOne Medicines from $350.00 to $365.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Finally, Barclays initiated coverage on BeOne Medicines in a report on Thursday, September 18th. They issued an “overweight” rating and a $385.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, BeOne Medicines has an average rating of “Moderate Buy” and an average price target of $336.30.

BeOne Medicines Stock Down 0.4%

BeOne Medicines stock opened at $343.87 on Friday. The company has a 50-day simple moving average of $318.57 and a 200-day simple moving average of $273.76. The firm has a market capitalization of $37.69 billion, a P/E ratio of -198.77 and a beta of 0.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.72 and a current ratio of 1.95. BeOne Medicines has a one year low of $170.99 and a one year high of $355.30.

BeOne Medicines (NASDAQ:ONC) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.36. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.24 billion. BeOne Medicines had a negative net margin of 3.89% and a negative return on equity of 1.22%. As a group, equities analysts expect that BeOne Medicines will post -5.82 earnings per share for the current year.

Insider Activity at BeOne Medicines

In other BeOne Medicines news, COO Xiaobin Wu sold 49,858 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $304.16, for a total transaction of $15,164,809.28. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Corazon (Corsee) D. Sanders sold 2,665 shares of the stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $337.00, for a total value of $898,105.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 181,315 shares of company stock valued at $54,839,498. 6.62% of the stock is owned by company insiders.

Institutional Investors Weigh In On BeOne Medicines

Hedge funds have recently modified their holdings of the business. Anchor Investment Management LLC bought a new stake in shares of BeOne Medicines in the second quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of BeOne Medicines in the second quarter valued at approximately $28,000. Daiwa Securities Group Inc. bought a new stake in shares of BeOne Medicines in the second quarter valued at approximately $35,000. Farther Finance Advisors LLC bought a new stake in shares of BeOne Medicines in the second quarter valued at approximately $39,000. Finally, Signaturefd LLC bought a new stake in shares of BeOne Medicines in the second quarter valued at approximately $49,000. 48.55% of the stock is owned by institutional investors.

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.