BeOne Medicines (NASDAQ:ONC) Downgraded by Jefferies Financial Group to “Hold”

BeOne Medicines (NASDAQ:ONC) was downgraded by stock analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. They presently have a $290.00 price target on the stock. Jefferies Financial Group’s price objective indicates a potential upside of 2.09% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. Barclays upped their price objective on shares of BeOne Medicines from $394.00 to $405.00 and gave the company an “overweight” rating in a report on Friday, February 27th. Royal Bank Of Canada boosted their target price on shares of BeOne Medicines from $417.00 to $425.00 and gave the company an “outperform” rating in a report on Thursday, February 26th. Truist Financial increased their price target on shares of BeOne Medicines from $400.00 to $412.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Wall Street Zen downgraded shares of BeOne Medicines from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 28th. Finally, Guggenheim upped their price objective on BeOne Medicines from $400.00 to $410.00 and gave the company a “buy” rating in a report on Friday, February 27th. Ten investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $389.18.

BeOne Medicines Stock Performance

Shares of BeOne Medicines stock opened at $284.05 on Monday. The business’s 50 day moving average price is $334.52 and its 200 day moving average price is $329.90. The company has a market cap of $31.15 billion, a price-to-earnings ratio of 112.72 and a beta of 0.53. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.08 and a current ratio of 3.41. BeOne Medicines has a one year low of $196.45 and a one year high of $385.22.

BeOne Medicines (NASDAQ:ONC) last issued its earnings results on Thursday, February 26th. The company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.60 by ($1.02). BeOne Medicines had a return on equity of 10.70% and a net margin of 5.37%.The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.45 billion. On average, research analysts predict that BeOne Medicines will post -5.82 EPS for the current year.

Insider Transactions at BeOne Medicines

In other news, SVP Chan Henry Lee sold 1,660 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $349.52, for a total value of $580,203.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO John Oyler sold 24,369 shares of the stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $302.87, for a total transaction of $7,380,639.03. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 27,034 shares of company stock worth $8,283,431 in the last ninety days. 6.62% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ONC. Legal & General Group Plc acquired a new position in BeOne Medicines during the 2nd quarter worth about $13,857,000. Mirae Asset Global Investments Co. Ltd. grew its position in BeOne Medicines by 1,019.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,816 shares of the company’s stock valued at $14,587,000 after acquiring an additional 38,992 shares in the last quarter. Fiera Capital Corp grew its position in BeOne Medicines by 20.1% in the 3rd quarter. Fiera Capital Corp now owns 25,117 shares of the company’s stock valued at $8,557,000 after acquiring an additional 4,205 shares in the last quarter. Virtus Investment Advisers LLC purchased a new stake in BeOne Medicines during the second quarter worth about $389,000. Finally, Baird Financial Group Inc. purchased a new stake in BeOne Medicines during the second quarter worth about $82,895,000. 48.55% of the stock is currently 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.