BeOne Medicines (NASDAQ:ONC) Upgraded to Strong-Buy at Wall Street Zen

BeOne Medicines (NASDAQ:ONC) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a note issued to investors on Saturday.

Other equities research analysts have also recently issued research reports about the stock. Guggenheim lifted their price target on shares of BeOne Medicines from $350.00 to $365.00 and gave the company a “buy” rating in a research note on Thursday. TD Securities reissued a “buy” rating and issued a $334.00 price target on shares of BeOne Medicines in a research note on Thursday, April 24th. Royal Bank Of Canada lifted their price target on shares of BeOne Medicines from $349.00 to $364.00 and gave the company an “outperform” rating in a research note on Thursday. Morgan Stanley lifted their price target on shares of BeOne Medicines from $313.00 to $330.00 and gave the company an “overweight” rating in a research note on Friday, June 27th. Finally, JPMorgan Chase & Co. lifted their price target on shares of BeOne Medicines from $321.00 to $345.00 and gave the company an “overweight” rating in a research note on Thursday, July 17th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $330.89.

BeOne Medicines Trading Down 3.4%

ONC opened at $288.18 on Friday. BeOne Medicines has a 12-month low of $170.99 and a 12-month high of $313.29. The company has a quick ratio of 1.71, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a market cap of $31.58 billion, a price-to-earnings ratio of -166.58 and a beta of 0.27. The stock’s 50 day simple moving average is $269.66.

BeOne Medicines (NASDAQ:ONC) last posted its earnings results on Wednesday, August 6th. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.36. The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates 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, analysts predict that BeOne Medicines will post -5.82 EPS for the current fiscal year.

Insider Activity at BeOne Medicines

In other BeOne Medicines news, SVP Chan Henry Lee sold 920 shares of the business’s stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $304.60, for a total transaction of $280,232.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Lai Wang sold 259 shares of the business’s stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $305.00, for a total transaction of $78,995.00. Following the sale, the insider owned 1,023,529 shares in the company, valued at $312,176,345. This trade represents a 0.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 144,683 shares of company stock valued at $36,294,047. 6.62% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd purchased a new position in BeOne Medicines in the second quarter valued at approximately $28,000. Farther Finance Advisors LLC purchased a new position in BeOne Medicines in the second quarter valued at approximately $39,000. Signaturefd LLC purchased a new position in BeOne Medicines in the second quarter valued at approximately $49,000. Parallel Advisors LLC purchased a new position in BeOne Medicines in the second quarter valued at approximately $59,000. Finally, FNY Investment Advisers LLC purchased a new position in BeOne Medicines in the second quarter valued at approximately $121,000. Hedge funds and other institutional investors 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.