Wolfe Research Begins Coverage on BeOne Medicines (NASDAQ:ONC)

Stock analysts at Wolfe Research initiated coverage on shares of BeOne Medicines (NASDAQ:ONC) in a research note issued on Friday, Marketbeat reports. The brokerage set an “outperform” rating and a $340.00 price target on the stock. Wolfe Research’s target price points to a potential upside of 20.13% from the company’s current price.

Several other research firms also recently commented on ONC. Weiss Ratings restated a “sell (d-)” rating on shares of BeOne Medicines in a research note on Wednesday, January 21st. Royal Bank Of Canada lifted their price objective on shares of BeOne Medicines from $417.00 to $425.00 and gave the stock an “outperform” rating in a research note on Thursday, February 26th. Wall Street Zen lowered shares of BeOne Medicines from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 28th. Jefferies Financial Group cut shares of BeOne Medicines from a “buy” rating to a “hold” rating and lowered their target price for the stock from $420.00 to $290.00 in a report on Monday, March 16th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $405.00 price target on shares of BeOne Medicines in a research report on Thursday, January 8th. Eleven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $385.08.

BeOne Medicines Stock Performance

NASDAQ:ONC opened at $283.03 on Friday. The stock has a 50 day simple moving average of $323.92 and a 200 day simple moving average of $326.72. The stock has a market cap of $31.05 billion, a P/E ratio of 112.31 and a beta of 0.53. BeOne Medicines has a 1-year low of $196.45 and a 1-year high of $385.22. The company has a current ratio of 3.41, a quick ratio of 3.08 and a debt-to-equity ratio of 0.22.

BeOne Medicines (NASDAQ:ONC) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $1.60 by ($1.02). The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.45 billion. BeOne Medicines had a net margin of 5.37% and a return on equity of 10.70%. Research analysts anticipate that BeOne Medicines will post -5.82 earnings per share for the current year.

Insider Activity

In related news, SVP Chan Henry Lee sold 341 shares of BeOne Medicines stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $300.00, for a total value of $102,300.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last quarter, insiders have sold 2,665 shares of company stock worth $902,792. Company insiders own 6.62% of the company’s stock.

Institutional Investors Weigh In On BeOne Medicines

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Temasek Holdings Private Ltd bought a new position in shares of BeOne Medicines in the 2nd quarter valued at $244,603,000. Marshall Wace LLP bought a new stake in shares of BeOne Medicines during the 2nd quarter worth $113,190,000. Baird Financial Group Inc. acquired a new stake in BeOne Medicines in the second quarter valued at about $82,895,000. Bank of America Corp DE acquired a new stake in BeOne Medicines in the second quarter valued at about $67,657,000. Finally, Man Group plc bought a new position in BeOne Medicines in the second quarter valued at about $59,031,000. 48.55% of the stock is currently 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.