Jefferies Financial Group Downgrades BeOne Medicines (NASDAQ:ONC) to Hold

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

Several other brokerages also recently weighed in on ONC. Weiss Ratings restated a “sell (d-)” rating on shares of BeOne Medicines in a report on Wednesday, January 21st. Sanford C. Bernstein upgraded BeOne Medicines from a “hold” rating to an “outperform” rating and set a $414.00 price objective for the company in a research note on Monday, January 12th. Guggenheim boosted their price objective on BeOne Medicines from $400.00 to $410.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Barclays upped their target price on shares of BeOne Medicines from $394.00 to $405.00 and gave the stock an “overweight” rating in a research note on Friday, February 27th. Finally, Royal Bank Of Canada raised 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. Ten research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $389.18.

BeOne Medicines Stock Performance

Shares of ONC stock opened at $284.05 on Monday. The firm has a 50 day moving average of $334.52 and a two-hundred day moving average of $329.90. The stock has a market capitalization of $31.15 billion, a PE ratio of 112.72 and a beta of 0.53. The company has a quick ratio of 3.08, a current ratio of 3.41 and a debt-to-equity ratio of 0.22. BeOne Medicines has a 52 week low of $196.45 and a 52 week high of $385.22.

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

Insiders Place Their Bets

In other BeOne Medicines news, SVP Chan Henry Lee sold 341 shares of BeOne Medicines stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $300.00, for a total transaction of $102,300.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John Oyler sold 24,369 shares of the company’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $302.87, for a total value of $7,380,639.03. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 27,034 shares of company stock worth $8,283,431. 6.62% of the stock is owned by insiders.

Hedge Funds Weigh In On BeOne Medicines

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Primecap Management Co. CA purchased a new position in BeOne Medicines in the second quarter valued at approximately $1,231,720,000. Temasek Holdings Private Ltd purchased a new stake in shares of BeOne Medicines during the 2nd quarter worth approximately $244,603,000. Marshall Wace LLP acquired a new position in shares of BeOne Medicines in the 2nd quarter valued at $113,190,000. Baird Financial Group Inc. acquired a new position in shares of BeOne Medicines in the 2nd quarter valued at $82,895,000. Finally, Bank of America Corp DE purchased a new position in shares of BeOne Medicines in the 2nd quarter valued at $67,657,000. 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.