BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) has been assigned a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, eleven have given a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $390.00.

Several analysts have recently commented on the stock. Morgan Stanley reissued an “overweight” rating and set a $395.00 price target on shares of BeOne Medicines in a research note on Thursday, May 7th. Jefferies Financial Group cut shares of BeOne Medicines from a “buy” rating to a “hold” rating and decreased their price target for the company from $420.00 to $290.00 in a research note on Monday, March 16th. Royal Bank Of Canada increased their price target on shares of BeOne Medicines from $425.00 to $436.00 and gave the company an “outperform” rating in a research note on Tuesday, June 2nd. Zacks Research raised shares of BeOne Medicines from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 4th. Finally, Truist Financial reissued a “buy” rating and set a $413.00 price target (up from $411.00) on shares of BeOne Medicines in a research note on Thursday, May 7th.

BeOne Medicines Stock Performance

BeOne Medicines stock opened at $289.99 on Tuesday. The stock has a 50-day simple moving average of $291.14 and a 200 day simple moving average of $309.89. The company has a quick ratio of 3.27, a current ratio of 3.64 and a debt-to-equity ratio of 0.20. BeOne Medicines has a 12-month low of $239.25 and a 12-month high of $385.22. The stock has a market capitalization of $31.82 billion, a price-to-earnings ratio of 64.87 and a beta of 0.49.

BeOne Medicines (NASDAQ:ONC) last released its quarterly earnings results on Wednesday, April 1st. The company reported $0.25 earnings per share (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. On average, research analysts anticipate that BeOne Medicines will post 6.14 earnings per share for the current fiscal year.

Insider Activity at BeOne Medicines

In related news, CEO John Oyler sold 4,940 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $270.56, for a total value of $1,336,566.40. Following the transaction, the chief executive officer directly owned 1,120 shares in the company, valued at $303,027.20. This represents a 81.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Lai Wang sold 1,367 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $269.38, for a total transaction of $368,242.46. Following the completion of the transaction, the insider owned 40 shares in the company, valued at $10,775.20. This represents a 97.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 27,236 shares of company stock worth $7,354,951 over the last ninety days. Company insiders own 6.19% of the company’s stock.

Hedge Funds Weigh In On BeOne Medicines

Several large investors have recently bought and sold shares of the business. Empowered Funds LLC acquired a new position in BeOne Medicines in the first quarter valued at approximately $201,000. Bank of America Corp DE lifted its holdings in BeOne Medicines by 7.0% in the first quarter. Bank of America Corp DE now owns 405,273 shares of the company’s stock valued at $120,354,000 after buying an additional 26,441 shares during the period. ADAR1 Capital Management LLC acquired a new position in BeOne Medicines in the first quarter valued at approximately $3,475,000. EverSource Wealth Advisors LLC lifted its holdings in BeOne Medicines by 16.4% in the first quarter. EverSource Wealth Advisors LLC now owns 369 shares of the company’s stock valued at $110,000 after buying an additional 52 shares during the period. Finally, Royal Bank of Canada lifted its holdings in BeOne Medicines by 3.5% in the first quarter. Royal Bank of Canada now owns 70,391 shares of the company’s stock valued at $20,905,000 after buying an additional 2,399 shares during the period. 48.55% of the stock is currently 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.