BeOne Medicines (NASDAQ:ONC) Coverage Initiated by Analysts at Barclays

Barclays initiated coverage on shares of BeOne Medicines (NASDAQ:ONC) in a research report report published on Thursday, MarketBeat Ratings reports. The firm issued an overweight rating and a $385.00 target price on the stock.

Other equities research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. increased their target price 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. Royal Bank Of Canada upped their price target on shares of BeOne Medicines from $349.00 to $364.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Wall Street Zen cut shares of BeOne Medicines from a “strong-buy” rating to a “buy” rating in a report on Friday, September 5th. Morgan Stanley increased their target price on shares of BeOne Medicines from $313.00 to $330.00 and gave the stock an “overweight” rating in a report on Friday, June 27th. Finally, Guggenheim increased their target price on shares of BeOne Medicines from $350.00 to $365.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Eight equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, BeOne Medicines presently has a consensus rating of “Buy” and a consensus price target of $336.30.

BeOne Medicines Price Performance

Shares of NASDAQ:ONC opened at $342.89 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.72 and a current ratio of 1.95. The firm has a fifty day moving average price of $307.02 and a 200 day moving average price of $267.68. BeOne Medicines has a fifty-two week low of $170.99 and a fifty-two week high of $351.27. The firm has a market cap of $37.58 billion, a price-to-earnings ratio of -198.20 and a beta of 0.21.

BeOne Medicines (NASDAQ:ONC) last issued its earnings results on Wednesday, August 6th. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates 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, sell-side analysts expect that BeOne Medicines will post -5.82 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO John Oyler sold 27,803 shares of the company’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $325.71, for a total transaction of $9,055,715.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lai Wang sold 5,000 shares of the company’s stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $350.06, for a total transaction of $1,750,300.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 188,887 shares of company stock worth $56,824,367. 6.62% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BeOne Medicines

A number of hedge funds and other institutional investors have recently bought and sold shares of ONC. Anchor Investment Management LLC purchased a new stake in shares of BeOne Medicines during the 2nd quarter worth $26,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of BeOne Medicines during the 2nd quarter worth about $28,000. Daiwa Securities Group Inc. purchased a new stake in BeOne Medicines in the second quarter valued at approximately $35,000. Farther Finance Advisors LLC purchased a new stake in BeOne Medicines in the second quarter valued at approximately $39,000. Finally, Signaturefd LLC acquired a new stake in BeOne Medicines during the 2nd quarter worth approximately $49,000. 48.55% of the stock is currently owned by hedge funds and other 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.