BeOne Medicines (NASDAQ:ONC) Rating Increased to Strong-Buy at Wells Fargo & Company

BeOne Medicines (NASDAQ:ONC) was upgraded by Wells Fargo & Company to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

Several other research analysts also recently issued reports on the company. Truist Financial upped their price objective on BeOne Medicines from $400.00 to $412.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Jefferies Financial Group cut BeOne Medicines from a “buy” rating to a “hold” rating and lowered their target price for the company from $420.00 to $290.00 in a research note on Monday, March 16th. Wolfe Research started coverage on BeOne Medicines in a research report on Friday, March 27th. They set an “outperform” rating and a $340.00 target price for the company. Sanford C. Bernstein raised BeOne Medicines from a “hold” rating to an “outperform” rating and set a $414.00 price target on the stock in a research note on Monday, January 12th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $405.00 price objective on shares of BeOne Medicines in a research report on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $390.58.

BeOne Medicines Trading Up 0.1%

ONC opened at $297.49 on Monday. BeOne Medicines has a 1-year low of $218.31 and a 1-year high of $385.22. The stock has a market capitalization of $32.64 billion, a PE ratio of 118.05 and a beta of 0.50. The company has a current ratio of 3.41, a quick ratio of 3.08 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average price of $303.59 and a two-hundred day moving average price of $322.03.

BeOne Medicines (NASDAQ:ONC) last announced its earnings results on Wednesday, May 6th. The company reported $0.25 earnings per share (EPS) for the quarter. BeOne Medicines had a net margin of 5.37% and a return on equity of 10.70%. The company had revenue of $1.51 billion for the quarter. As a group, equities analysts anticipate that BeOne Medicines will post 5.44 earnings per share for the current fiscal year.

Insider Activity at BeOne Medicines

In other news, SVP Chan Henry Lee sold 332 shares of the firm’s stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $311.59, for a total transaction of $103,447.88. Following the sale, the senior vice president owned 318,370 shares of the company’s stock, valued at $99,200,908.30. This trade represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.62% of the stock is currently owned by corporate insiders.

Institutional Trading of BeOne Medicines

A number of large investors have recently bought and sold shares of the business. Cetera Investment Advisers acquired a new stake in BeOne Medicines during the 2nd quarter worth approximately $455,000. Rhumbline Advisers acquired a new position in shares of BeOne Medicines in the second quarter valued at approximately $275,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of BeOne Medicines during the second quarter worth $505,000. Invesco Ltd. bought a new stake in shares of BeOne Medicines during the second quarter worth $422,000. Finally, EverSource Wealth Advisors LLC acquired a new stake in shares of BeOne Medicines during the second quarter worth $68,000. 48.55% of the stock is owned by institutional investors.

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.