BeOne Medicines’ (ONC) “Buy” Rating Reaffirmed at Truist Financial

BeOne Medicines (NASDAQ:ONC)‘s stock had its “buy” rating reiterated by stock analysts at Truist Financial in a research note issued on Thursday,Benzinga reports. They currently have a $413.00 price objective on the stock, up from their previous price objective of $411.00. Truist Financial’s price target points to a potential upside of 32.46% from the company’s previous close.

ONC has been the subject of a number of other research reports. Wolfe Research began coverage on BeOne Medicines in a report on Friday, March 27th. They set an “outperform” rating and a $340.00 target price for the company. Barclays restated an “overweight” rating and issued a $409.00 target price on shares of BeOne Medicines in a research report on Thursday. Jefferies Financial Group cut shares of BeOne Medicines from a “buy” rating to a “hold” rating and cut their price objective for the company from $420.00 to $290.00 in a research note on Monday, March 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BeOne Medicines in a report on Monday, April 20th. Finally, Wells Fargo & Company assumed coverage on shares of BeOne Medicines in a research report on Monday. They set an “overweight” rating and a $400.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $391.00.

BeOne Medicines Stock Performance

Shares of NASDAQ ONC traded down $1.52 during midday trading on Thursday, hitting $311.80. The company’s stock had a trading volume of 87,529 shares, compared to its average volume of 250,689. The firm has a market capitalization of $34.21 billion, a price-to-earnings ratio of 123.88 and a beta of 0.50. The company has a current ratio of 3.41, a quick ratio of 3.08 and a debt-to-equity ratio of 0.22. The stock has a fifty day moving average price of $302.44 and a 200 day moving average price of $322.00. BeOne Medicines has a one year low of $218.31 and a one year high of $385.22.

BeOne Medicines (NASDAQ:ONC) last released its quarterly earnings data on Wednesday, April 1st. The company reported $0.25 earnings per share for the quarter. The business had revenue of $1.51 billion during the quarter. BeOne Medicines had a net margin of 5.37% and a return on equity of 10.70%. On average, research analysts forecast that BeOne Medicines will post 5.44 EPS for the current fiscal year.

Insider Activity at BeOne Medicines

In other news, SVP Chan Henry Lee sold 332 shares of BeOne Medicines stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $311.59, for a total transaction of $103,447.88. Following the sale, the senior vice president owned 318,370 shares of the company’s stock, valued at approximately $99,200,908.30. The trade was a 0.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 6.62% of the company’s stock.

Institutional Trading of BeOne Medicines

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE purchased a new position in shares of BeOne Medicines during the 2nd quarter worth approximately $67,657,000. Man Group plc purchased a new stake in BeOne Medicines in the second quarter worth $59,031,000. Capital International Investors raised its holdings in BeOne Medicines by 3.3% in the third quarter. Capital International Investors now owns 5,046,058 shares of the company’s stock worth $1,716,883,000 after purchasing an additional 161,052 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in shares of BeOne Medicines during the 2nd quarter valued at $38,337,000. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of BeOne Medicines in the 2nd quarter worth about $26,034,000. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

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.