BeOne Medicines (NASDAQ:ONC) Now Covered by Wolfe Research

Wolfe Research started coverage on shares of BeOne Medicines (NASDAQ:ONC) in a research note released on Friday morning, Marketbeat.com reports. The brokerage issued an outperform rating and a $340.00 target price on the stock.

ONC has been the subject of several other reports. Barclays upped their price objective on BeOne Medicines from $394.00 to $405.00 and gave the stock an “overweight” rating in a research note on Friday, February 27th. Jefferies Financial Group downgraded 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 report on Monday, March 16th. Morgan Stanley restated an “overweight” rating and issued a $405.00 price target on shares of BeOne Medicines in a research report on Thursday, January 8th. Royal Bank Of Canada raised their price objective on BeOne Medicines from $417.00 to $425.00 and gave the stock an “outperform” rating in a research note on Thursday, February 26th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BeOne Medicines in a research report on Wednesday, January 21st. Eleven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, BeOne Medicines currently has a consensus rating of “Moderate Buy” and a consensus target price of $385.08.

BeOne Medicines Price Performance

Shares of NASDAQ:ONC opened at $283.03 on Friday. The company has a quick ratio of 3.08, a current ratio of 3.41 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $31.05 billion, a PE ratio of 112.31 and a beta of 0.53. The firm’s 50 day moving average price is $323.92 and its 200-day moving average price is $326.89. BeOne Medicines has a twelve month low of $196.45 and a twelve month high of $385.22.

BeOne Medicines (NASDAQ:ONC) last announced its earnings results on Thursday, February 26th. The company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.60 by ($1.02). BeOne Medicines had a net margin of 5.37% and a return on equity of 10.70%. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.45 billion. Equities research analysts expect that BeOne Medicines will post -5.82 EPS for the current year.

Insider Buying and Selling

In other BeOne Medicines news, SVP Chan Henry Lee sold 341 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $300.00, for a total transaction of $102,300.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 2,665 shares of company stock worth $902,792 over the last quarter. 6.62% of the stock is owned by company insiders.

Institutional Trading of BeOne Medicines

Several institutional investors have recently made changes to their positions in ONC. Hsbc Holdings PLC lifted its holdings in BeOne Medicines by 180.5% in the 4th quarter. Hsbc Holdings PLC now owns 3,694 shares of the company’s stock worth $1,124,000 after purchasing an additional 2,377 shares in the last quarter. Rockefeller Capital Management L.P. grew its holdings in BeOne Medicines by 1.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 6,254 shares of the company’s stock valued at $1,900,000 after buying an additional 116 shares in the last quarter. Corient Private Wealth LLC grew its holdings in BeOne Medicines by 26.5% during the 4th quarter. Corient Private Wealth LLC now owns 1,069 shares of the company’s stock valued at $325,000 after buying an additional 224 shares in the last quarter. Compound Planning Inc. bought a new stake in shares of BeOne Medicines during the fourth quarter valued at approximately $223,000. Finally, Invesco Ltd. raised its position in shares of BeOne Medicines by 1,008.6% during the fourth quarter. Invesco Ltd. now owns 14,123 shares of the company’s stock valued at $4,291,000 after buying an additional 12,849 shares during the last quarter. 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. The company was founded by Xiao Dong Wang and John V. Oyler on October 28, 2010 and is headquartered in Basel, Switzerland.