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

Zacks Research upgraded shares of BeOne Medicines (NASDAQ:ONC) from a hold rating to a strong-buy rating in a research report sent to investors on Thursday morning,Zacks.com reports.

ONC has been the topic of a number of other reports. Royal Bank Of Canada upped their target price on shares of BeOne Medicines from $425.00 to $436.00 and gave the company an “outperform” rating in a research report on Tuesday. Guggenheim upped their target price on shares of BeOne Medicines from $410.00 to $420.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Wells Fargo & Company started coverage on shares of BeOne Medicines in a research report on Monday, May 4th. They set an “overweight” rating and a $400.00 target price on the stock. Barclays upped their target price on shares of BeOne Medicines from $405.00 to $409.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BeOne Medicines in a research note on Monday, April 20th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $390.00.

BeOne Medicines Stock Performance

BeOne Medicines stock opened at $270.10 on Thursday. The company has a current ratio of 3.64, a quick ratio of 3.27 and a debt-to-equity ratio of 0.20. BeOne Medicines has a 1 year low of $239.25 and a 1 year high of $385.22. The company has a market cap of $29.64 billion, a PE ratio of 60.43 and a beta of 0.49. The company’s 50-day moving average is $301.86 and its two-hundred day moving average is $317.87.

BeOne Medicines (NASDAQ:ONC) last released its 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 for the quarter. Equities analysts anticipate that BeOne Medicines will post 6.14 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Margaret Dugan sold 212 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $309.60, for a total value of $65,635.20. The sale was disclosed in a legal 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 332 shares of the company’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $310.72, for a total value of $103,159.04. Following the completion of the sale, the senior vice president directly owned 101 shares of the company’s stock, valued at approximately $31,382.72. This trade represents a 76.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 1,641 shares of company stock valued at $505,791. Insiders own 6.19% of the company’s stock.

Institutional Trading of BeOne Medicines

A number of large investors have recently bought and sold shares of the business. Capital International Investors increased its stake in BeOne Medicines by 1.3% during the 4th quarter. Capital International Investors now owns 5,113,866 shares of the company’s stock worth $1,553,909,000 after purchasing an additional 67,808 shares in the last quarter. Siren L.L.C. increased its stake in BeOne Medicines by 1.4% during the 4th 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 in the last quarter. Morgan Stanley increased its stake in BeOne Medicines by 23.9% during the 4th quarter. Morgan Stanley now owns 437,661 shares of the company’s stock worth $132,966,000 after purchasing an additional 84,367 shares in the last quarter. Bank of America Corp DE increased its stake in BeOne Medicines by 7.0% during the 1st 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 in the last quarter. Finally, Candriam S.C.A. increased its stake in BeOne Medicines by 31.7% during the 1st quarter. Candriam S.C.A. now owns 259,731 shares of the company’s stock worth $77,132,000 after purchasing an additional 62,470 shares in the last quarter. 48.55% of the stock is 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. The company was founded by Xiao Dong Wang and John V. Oyler on October 28, 2010 and is headquartered in Basel, Switzerland.