BeOne Medicines (NASDAQ:ONC) Stock Rating Upgraded by Zacks Research

BeOne Medicines (NASDAQ:ONC) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Thursday,Zacks.com reports.

Other equities analysts have also issued reports about the company. Morgan Stanley reaffirmed an “overweight” rating and set a $395.00 target price on shares of BeOne Medicines in a report on Thursday, May 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BeOne Medicines in a report on Monday, April 20th. Jefferies Financial Group lowered 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 report on Monday, March 16th. Guggenheim upped their target price on BeOne Medicines from $410.00 to $420.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Finally, Truist Financial reaffirmed a “buy” rating and set a $413.00 target price (up from $411.00) on shares of BeOne Medicines in a report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $390.00.

BeOne Medicines Stock Down 3.5%

Shares of BeOne Medicines stock opened at $270.10 on Thursday. The company has a quick ratio of 3.27, a current ratio of 3.64 and a debt-to-equity ratio of 0.20. The firm has a market cap of $29.64 billion, a P/E ratio of 60.43 and a beta of 0.49. BeOne Medicines has a fifty-two week low of $239.25 and a fifty-two week high of $385.22. The business has a 50-day moving average price of $301.86 and a 200 day moving average price of $317.87.

BeOne Medicines (NASDAQ:ONC) last announced its quarterly earnings data on Wednesday, April 1st. The company reported $0.25 earnings per share for the quarter. The firm had revenue of $1.51 billion during the quarter. BeOne Medicines had a return on equity of 12.06% and a net margin of 8.94%. On average, sell-side analysts forecast that BeOne Medicines will post 6.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Alessandro Riva sold 212 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $309.51, for a total value of $65,616.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Chan Henry Lee sold 341 shares of the stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $300.00, for a total value of $102,300.00. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 1,641 shares of company stock worth $505,791. 6.19% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Fiera Capital Corp lifted its position in BeOne Medicines by 20.1% in the third quarter. Fiera Capital Corp now owns 25,117 shares of the company’s stock worth $8,557,000 after purchasing an additional 4,205 shares during the period. BNP Paribas Financial Markets lifted its position in BeOne Medicines by 100.6% in the fourth quarter. BNP Paribas Financial Markets now owns 193,951 shares of the company’s stock worth $58,924,000 after purchasing an additional 97,244 shares during the period. Slow Capital Inc. lifted its position in BeOne Medicines by 51.5% in the fourth quarter. Slow Capital Inc. now owns 27,301 shares of the company’s stock worth $8,294,000 after purchasing an additional 9,280 shares during the period. Generali Investments Management Co LLC bought a new stake in BeOne Medicines in the third quarter worth about $2,726,000. Finally, AIA Group Ltd raised its position in BeOne Medicines by 31.4% in the third quarter. AIA Group Ltd now owns 32,303 shares of the company’s stock worth $11,006,000 after acquiring an additional 7,716 shares in the last quarter. Institutional investors own 48.55% of the company’s stock.

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. The company was founded by Xiao Dong Wang and John V. Oyler on October 28, 2010 and is headquartered in Basel, Switzerland.