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.

ONC has been the subject of several other reports. Wolfe Research started 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. Truist Financial upped their price target on BeOne Medicines from $413.00 to $416.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Guggenheim increased their price objective on BeOne Medicines from $410.00 to $420.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Barclays lowered their price objective on BeOne Medicines from $409.00 to $403.00 and set an “overweight” rating for the company in a research report on Tuesday, July 14th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and set a $396.00 target price on shares of BeOne Medicines in a research report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, BeOne Medicines presently has an average rating of “Moderate Buy” and a consensus price target of $390.92.

BeOne Medicines Price Performance

Shares of ONC stock opened at $310.58 on Friday. The stock’s 50-day moving average is $290.21 and its 200 day moving average is $308.99. BeOne Medicines has a 1-year low of $253.95 and a 1-year high of $385.22. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.64 and a quick ratio of 3.27. The company has a market cap of $34.08 billion, a P/E ratio of 69.48 and a beta of 0.49.

BeOne Medicines (NASDAQ:ONC) last announced its earnings results on Wednesday, April 1st. The company reported $0.25 EPS for the quarter. BeOne Medicines had a net margin of 8.94% and a return on equity of 12.06%. The business had revenue of $1.51 billion during the quarter. Research analysts predict that BeOne Medicines will post 5.86 earnings per share for the current fiscal year.

Insider Transactions at BeOne Medicines

In related news, insider Lai Wang sold 1,068 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $276.74, for a total value of $295,558.32. 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, COO Xiaobin Wu sold 1,292 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $276.26, for a total transaction of $356,927.92. 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. In the last quarter, insiders sold 233,647 shares of company stock worth $70,335,553. 6.19% of the stock is owned by insiders.

Institutional Trading of BeOne Medicines

A number of hedge funds and other institutional investors have recently made changes to their positions in ONC. Bank of America Corp DE purchased a new stake in BeOne Medicines in the second quarter valued at $67,657,000. Man Group plc purchased a new position in shares of BeOne Medicines during the 2nd quarter valued at about $59,031,000. BNP Paribas Financial Markets acquired a new position in shares of BeOne Medicines in the 2nd quarter valued at about $38,337,000. First Trust Advisors LP lifted its holdings in shares of BeOne Medicines by 91.9% in the 1st quarter. First Trust Advisors LP now owns 241,426 shares of the company’s stock valued at $71,696,000 after buying an additional 115,601 shares during the period. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of BeOne Medicines in the second quarter worth about $26,034,000. 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. The company was founded by Xiao Dong Wang and John V. Oyler on October 28, 2010 and is headquartered in Basel, Switzerland.