BeOne Medicines (NASDAQ:ONC) Price Target Raised to $405.00

BeOne Medicines (NASDAQ:ONC) had its target price raised by Citigroup from $399.00 to $405.00 in a report published on Monday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

A number of other research firms have also recently issued reports on ONC. Morgan Stanley increased their price target on BeOne Medicines from $350.00 to $383.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Zacks Research lowered shares of BeOne Medicines from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 28th. Guggenheim raised their price target 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. Citizens Jmp upped their price objective on shares of BeOne Medicines from $348.00 to $396.00 and gave the company a “market outperform” rating in a report on Friday, November 7th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of BeOne Medicines in a research report on Wednesday, October 8th. Ten analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $357.33.

BeOne Medicines Stock Up 9.8%

Shares of NASDAQ:ONC opened at $377.47 on Monday. BeOne Medicines has a 1 year low of $170.99 and a 1 year high of $379.33. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.39 and a quick ratio of 2.17. The business’s 50-day moving average is $328.43 and its 200-day moving average is $290.11. The company has a market capitalization of $41.39 billion, a price-to-earnings ratio of 740.14 and a beta of 0.31.

Insider Activity at BeOne Medicines

In other BeOne Medicines news, SVP Chan Henry Lee sold 10,671 shares of BeOne Medicines stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $350.40, for a total transaction of $3,739,118.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Corazon (Corsee) D. Sanders sold 2,665 shares of the business’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $337.00, for a total transaction of $898,105.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 56,267 shares of company stock valued at $18,740,356 over the last three months. Insiders own 6.62% of the company’s stock.

Hedge Funds Weigh In On BeOne Medicines

A number of large investors have recently modified their holdings of the company. Crossmark Global Holdings Inc. boosted its position in shares of BeOne Medicines by 23.6% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 6,241 shares of the company’s stock valued at $2,126,000 after acquiring an additional 1,191 shares during the last quarter. Orion Porfolio Solutions LLC increased its holdings in shares of BeOne Medicines by 30.1% in the 3rd quarter. Orion Porfolio Solutions LLC now owns 2,815 shares of the company’s stock worth $959,000 after buying an additional 651 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of BeOne Medicines by 30.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 39,792 shares of the company’s stock worth $13,535,000 after acquiring an additional 9,277 shares during the last quarter. Erste Asset Management GmbH grew its position in BeOne Medicines by 6.8% in the third quarter. Erste Asset Management GmbH now owns 21,900 shares of the company’s stock worth $7,289,000 after acquiring an additional 1,400 shares in the last quarter. Finally, Generali Investments Management Co LLC bought a new position in BeOne Medicines in the third quarter valued at $2,726,000. 48.55% of the stock is currently owned by 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.