BeOne Medicines (NASDAQ:ONC) Cut to Buy at Wall Street Zen

Wall Street Zen downgraded shares of BeOne Medicines (NASDAQ:ONC) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday.

ONC has been the topic of several other research reports. Citizens Jmp boosted their price target 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. Guggenheim lifted their target price on shares of BeOne Medicines from $400.00 to $410.00 and gave the company a “buy” rating in a research report on Friday. Sanford C. Bernstein raised shares of BeOne Medicines from a “hold” rating to an “outperform” rating and set a $414.00 price target for the company in a research report on Monday, January 12th. Citigroup raised their price target on shares of BeOne Medicines from $399.00 to $405.00 and gave the stock a “buy” rating in a research note on Monday, November 10th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $420.00 price objective on shares of BeOne Medicines in a research note on Monday, November 17th. Eleven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $401.00.

BeOne Medicines Trading Down 0.8%

Shares of ONC opened at $314.36 on Friday. The stock’s 50-day moving average price is $336.83 and its 200 day moving average price is $330.90. The company has a quick ratio of 2.17, a current ratio of 2.39 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $34.47 billion, a price-to-earnings ratio of 124.75 and a beta of 0.52. BeOne Medicines has a 12-month low of $196.45 and a 12-month high of $385.22.

BeOne Medicines (NASDAQ:ONC) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $1.60 by ($1.02). The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.45 billion. BeOne Medicines had a return on equity of 11.10% and a net margin of 5.37%. As a group, research analysts predict that BeOne Medicines will post -5.82 earnings per share for the current year.

Insider Activity at BeOne Medicines

In related news, SVP Chan Henry Lee sold 1,660 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $349.52, for a total transaction of $580,203.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO John Oyler sold 75,631 shares of the firm’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $307.79, for a total value of $23,278,465.49. Following the sale, the chief executive officer directly owned 24,369 shares of the company’s stock, valued at $7,500,534.51. This represents a 75.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 102,656 shares of company stock worth $31,567,496 over the last three months. 6.62% of the stock is owned by company insiders.

Institutional Investors Weigh In On BeOne Medicines

Several hedge funds and other institutional investors have recently made changes to their positions in the company. EFG International AG acquired a new position in shares of BeOne Medicines during the fourth quarter valued at $25,000. Anchor Investment Management LLC bought a new stake in BeOne Medicines during the 2nd quarter worth about $26,000. Leonteq Securities AG acquired a new position in BeOne Medicines during the 4th quarter valued at about $35,000. Daiwa Securities Group Inc. bought a new position in shares of BeOne Medicines in the 2nd quarter valued at about $35,000. Finally, CWM LLC grew its position in shares of BeOne Medicines by 32.8% during the 4th quarter. CWM LLC now owns 158 shares of the company’s stock worth $48,000 after buying an additional 39 shares during the period. 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. The company was founded by Xiao Dong Wang and John V. Oyler on October 28, 2010 and is headquartered in Basel, Switzerland.