BeOne Medicines (NASDAQ:ONC) Downgraded by Wall Street Zen to Buy

Wall Street Zen cut shares of BeOne Medicines (NASDAQ:ONC) from a strong-buy rating to a buy rating in a report released on Monday.

ONC has been the topic of a number of other reports. Zacks Research upgraded BeOne Medicines from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 4th. Truist Financial reissued a “buy” rating and issued a $413.00 target price (up from $411.00) on shares of BeOne Medicines in a report on Thursday, May 7th. Jefferies Financial Group cut BeOne Medicines from a “buy” rating to a “hold” rating and cut their target price for the stock from $420.00 to $290.00 in a research note on Monday, March 16th. Royal Bank Of Canada lifted their price target on BeOne Medicines from $425.00 to $436.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 2nd. Finally, Citizens Jmp reiterated a “market outperform” rating and issued a $396.00 price target on shares of BeOne Medicines in a research note on Wednesday, July 1st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, BeOne Medicines currently has an average rating of “Moderate Buy” and an average price target of $390.23.

BeOne Medicines Stock Performance

Shares of ONC stock opened at $305.87 on Monday. BeOne Medicines has a 12 month low of $241.45 and a 12 month high of $385.22. The stock has a market cap of $33.56 billion, a PE ratio of 67.95 and a beta of 0.49. The company has a current ratio of 3.64, a quick ratio of 3.27 and a debt-to-equity ratio of 0.20. The company’s fifty day moving average price is $289.42 and its 200-day moving average price is $309.21.

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

Insider Activity at BeOne Medicines

In related news, CEO John Oyler sold 3,410 shares of BeOne Medicines stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $273.78, for a total value of $933,589.80. Following the completion of the sale, the chief executive officer directly owned 1,610 shares in the company, valued at approximately $440,785.80. This trade represents a 67.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Chan Henry Lee sold 590 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $265.98, for a total value of $156,928.20. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 27,236 shares of company stock valued at $7,354,951 over the last three months. 6.19% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. EFG International AG purchased a new stake in BeOne Medicines in the fourth quarter worth approximately $25,000. Leonteq Securities AG bought a new stake in BeOne Medicines in the 4th quarter worth approximately $35,000. Daiwa Securities Group Inc. purchased a new stake in BeOne Medicines during the 2nd quarter valued at $35,000. CWM LLC raised its stake in BeOne Medicines by 32.8% during the 4th quarter. CWM LLC now owns 158 shares of the company’s stock valued at $48,000 after buying an additional 39 shares during the last quarter. Finally, Group One Trading LLC bought a new position in shares of BeOne Medicines during the 4th quarter valued at $61,000. 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.