BeOne Medicines (NASDAQ:ONC) Rating Increased to Strong-Buy at Nomura

Nomura upgraded shares of BeOne Medicines (NASDAQ:ONC) to a strong-buy rating in a report released on Monday morning,Zacks.com reports.

Several other equities analysts have also weighed in on the company. Leerink Partners lifted their price objective on BeOne Medicines from $364.00 to $367.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. Citizens Jmp reissued a “market outperform” rating and set a $396.00 target price on shares of BeOne Medicines in a research report on Wednesday, July 1st. Royal Bank Of Canada raised their price target on shares of BeOne Medicines from $436.00 to $451.00 and gave the company an “outperform” rating in a report on Tuesday, July 7th. Guggenheim raised their price target on shares of BeOne Medicines from $410.00 to $420.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Finally, Wells Fargo & Company initiated coverage on shares of BeOne Medicines in a research report on Monday, May 4th. They set an “overweight” rating and a $400.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, BeOne Medicines currently has a consensus rating of “Moderate Buy” and a consensus target price of $394.00.

BeOne Medicines Stock Performance

Shares of ONC opened at $325.90 on Monday. BeOne Medicines has a twelve month low of $253.95 and a twelve month high of $385.22. The firm has a market capitalization of $35.76 billion, a P/E ratio of 72.91 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 stock’s fifty day simple moving average is $292.10 and its 200 day simple moving average is $309.39.

BeOne Medicines (NASDAQ:ONC) last posted its quarterly earnings results on Wednesday, April 1st. The company reported $0.25 earnings per share (EPS) for the quarter. The firm had revenue of $1.51 billion during the quarter. BeOne Medicines had a return on equity of 12.06% and a net margin of 8.94%. On average, equities research analysts forecast that BeOne Medicines will post 5.93 earnings per share for the current year.

Insider Buying and Selling at BeOne Medicines

In other BeOne Medicines news, insider Lai Wang sold 1,367 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $269.38, for a total transaction of $368,242.46. Following the transaction, the insider owned 40 shares in the company, valued at $10,775.20. The trade was a 97.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Xiaobin Wu sold 1,484 shares of the company’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $269.37, for a total value of $399,745.08. Following the completion of the sale, the chief operating officer directly owned 40 shares of the company’s stock, valued at $10,774.80. The trade was a 97.38% decrease in their position. 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 have sold 233,647 shares of company stock valued at $70,335,553 over the last three months. 6.19% of the stock is owned by company insiders.

Hedge Funds Weigh In On BeOne Medicines

Hedge funds and other institutional investors have recently bought and sold shares of the stock. EFG International AG acquired a new stake in BeOne Medicines in the fourth quarter valued at approximately $25,000. Leonteq Securities AG acquired a new position in shares of BeOne Medicines during the fourth quarter worth $35,000. Daiwa Securities Group Inc. acquired a new position in shares of BeOne Medicines during the second quarter worth $35,000. CWM LLC boosted its stake in shares of BeOne Medicines by 32.8% in the fourth quarter. CWM LLC now owns 158 shares of the company’s stock valued at $48,000 after purchasing an additional 39 shares during the period. Finally, Group One Trading LLC purchased a new position in shares of BeOne Medicines in the fourth quarter valued at $61,000. 48.55% of the stock is owned by institutional investors and hedge funds.

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.