BeOne Medicines (NASDAQ:ONC) Upgraded to “Strong-Buy” at Nomura

BeOne Medicines (NASDAQ:ONCGet Free Report) was upgraded by analysts at Nomura to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

Other equities research analysts have also issued research reports about the company. Guggenheim raised their price objective on BeOne Medicines from $410.00 to $420.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Truist Financial upped their target price on BeOne Medicines from $413.00 to $416.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Wall Street Zen upgraded BeOne Medicines from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 18th. Royal Bank Of Canada raised their price target on shares of BeOne Medicines from $436.00 to $451.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 7th. Finally, Barclays decreased their price target on shares of BeOne Medicines from $409.00 to $403.00 and set an “overweight” rating for the company in a research report on Tuesday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $394.00.

Check Out Our Latest Analysis on ONC

BeOne Medicines Stock Performance

NASDAQ:ONC opened at $325.90 on Monday. The firm has a 50-day moving average of $292.10 and a two-hundred day moving average of $309.39. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.64 and a quick ratio of 3.27. The stock has a market cap of $35.76 billion, a P/E ratio of 72.91 and a beta of 0.49. BeOne Medicines has a 1-year low of $253.95 and a 1-year high of $385.22.

BeOne Medicines (NASDAQ:ONCGet Free Report) last announced its earnings results on Wednesday, April 1st. The company reported $0.25 earnings per share (EPS) for the quarter. BeOne Medicines had a return on equity of 12.06% and a net margin of 8.94%.The business had revenue of $1.51 billion for the quarter. On average, research analysts expect that BeOne Medicines will post 5.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO John Oyler sold 145,861 shares of BeOne Medicines stock in a transaction dated Tuesday, July 14th. The stock was sold at an average price of $305.95, for a total value of $44,626,172.95. Following the completion of the transaction, the chief executive officer directly owned 8,122 shares in the company, valued at approximately $2,484,925.90. This trade represents a 94.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lai Wang sold 1,367 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $269.38, for a total value of $368,242.46. Following the completion of the sale, the insider directly owned 40 shares of the company’s stock, valued at approximately $10,775.20. This represents a 97.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 233,647 shares of company stock worth $70,335,553. Corporate insiders own 6.19% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Capital International Investors increased its holdings in shares of BeOne Medicines by 1.3% in the 4th quarter. Capital International Investors now owns 5,113,866 shares of the company’s stock valued at $1,553,909,000 after acquiring an additional 67,808 shares during the last quarter. Siren L.L.C. lifted its stake in BeOne Medicines by 1.4% during the fourth quarter. Siren L.L.C. now owns 500,000 shares of the company’s stock worth $151,905,000 after purchasing an additional 7,010 shares during the last quarter. Morgan Stanley boosted its holdings in BeOne Medicines by 23.9% in the fourth quarter. Morgan Stanley now owns 437,661 shares of the company’s stock worth $132,966,000 after purchasing an additional 84,367 shares during the period. Bank of America Corp DE boosted its holdings in BeOne Medicines by 7.0% in the first quarter. Bank of America Corp DE now owns 405,273 shares of the company’s stock worth $120,354,000 after purchasing an additional 26,441 shares during the period. Finally, Candriam S.C.A. increased its stake in BeOne Medicines by 31.7% during the first quarter. Candriam S.C.A. now owns 259,731 shares of the company’s stock valued at $77,132,000 after purchasing an additional 62,470 shares during the last quarter. Institutional investors and hedge funds own 48.55% of the company’s stock.

BeOne Medicines Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for BeOne Medicines (NASDAQ:ONC)

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