BeOne Medicines (NASDAQ:ONC) Rating Increased to Strong-Buy at Wall Street Zen

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

Several other research firms also recently weighed in on ONC. Morgan Stanley raised their target price on shares of BeOne Medicines from $313.00 to $330.00 and gave the company an “overweight” rating in a report on Friday, June 27th. Weiss Ratings restated a “sell (d-)” rating on shares of BeOne Medicines in a report on Saturday, September 27th. Royal Bank Of Canada raised their target price on shares of BeOne Medicines from $349.00 to $364.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Guggenheim raised their target price on shares of BeOne Medicines from $350.00 to $365.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Finally, Zacks Research upgraded shares of BeOne Medicines from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, BeOne Medicines currently has a consensus rating of “Moderate Buy” and an average target price of $336.30.

BeOne Medicines Stock Down 0.4%

Shares of NASDAQ ONC opened at $343.87 on Friday. The company has a quick ratio of 1.72, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. BeOne Medicines has a 52 week low of $170.99 and a 52 week high of $355.30. The firm has a 50-day moving average price of $318.57 and a 200 day moving average price of $273.76. The stock has a market capitalization of $37.69 billion, a price-to-earnings ratio of -198.77 and a beta of 0.31.

BeOne Medicines (NASDAQ:ONC) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.48 by $0.36. BeOne Medicines had a negative net margin of 3.89% and a negative return on equity of 1.22%. The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Equities research analysts anticipate that BeOne Medicines will post -5.82 EPS for the current fiscal year.

Insider Transactions at BeOne Medicines

In other BeOne Medicines news, CEO John Oyler sold 27,803 shares of BeOne Medicines stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $325.71, for a total transaction of $9,055,715.13. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Lai Wang sold 5,000 shares of BeOne Medicines stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $350.06, for a total transaction of $1,750,300.00. The disclosure for this sale can be found here. Insiders sold 181,315 shares of company stock valued at $54,839,498 in the last quarter. Insiders own 6.62% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio bought a new stake in shares of BeOne Medicines in the second quarter worth $3,491,000. Aaron Wealth Advisors LLC bought a new stake in shares of BeOne Medicines in the second quarter worth $200,000. Avanza Fonder AB bought a new stake in shares of BeOne Medicines in the second quarter worth $199,000. Perigon Wealth Management LLC bought a new stake in shares of BeOne Medicines in the second quarter worth $581,000. Finally, LVW Advisors LLC bought a new stake in BeOne Medicines during the second quarter valued at $247,000. 48.55% of the stock is owned by institutional investors and hedge funds.

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.