Zacks Research Upgrades BeOne Medicines (NASDAQ:ONC) to “Strong-Buy”

BeOne Medicines (NASDAQ:ONC) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Thursday,Zacks.com reports.

ONC has been the subject of several other research reports. Morgan Stanley reiterated an “overweight” rating and issued a $395.00 price target on shares of BeOne Medicines in a research report on Thursday, May 7th. Wells Fargo & Company started coverage on shares of BeOne Medicines in a research report on Monday, May 4th. They set an “overweight” rating and a $400.00 price objective for the company. Leerink Partners upped their price objective on shares of BeOne Medicines from $364.00 to $367.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. Barclays upped their price objective on shares of BeOne Medicines from $405.00 to $409.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Finally, Wolfe Research started coverage on shares of BeOne Medicines in a research report on Friday, March 27th. They set an “outperform” rating and a $340.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $390.00.

BeOne Medicines Stock Down 3.5%

ONC stock opened at $270.10 on Thursday. The company has a fifty day moving average price of $301.86 and a 200 day moving average price of $317.87. BeOne Medicines has a 12 month low of $239.25 and a 12 month high of $385.22. The company has a market cap of $29.64 billion, a price-to-earnings ratio of 60.43 and a beta of 0.49. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.64 and a quick ratio of 3.27.

BeOne Medicines (NASDAQ:ONC) last released its quarterly earnings results on Wednesday, April 1st. The company reported $0.25 EPS for the quarter. BeOne Medicines had a net margin of 8.94% and a return on equity of 12.06%. The firm had revenue of $1.51 billion during the quarter. Sell-side analysts expect that BeOne Medicines will post 6.14 earnings per share for the current year.

Insider Activity at BeOne Medicines

In other BeOne Medicines news, Director Corazon (Corsee) D. Sanders sold 212 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $309.59, for a total transaction of $65,633.08. 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, Director Alessandro Riva sold 212 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $309.51, for a total transaction of $65,616.12. 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. In the last quarter, insiders sold 1,641 shares of company stock valued at $505,791. Company insiders own 6.19% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fiera Capital Corp grew its stake 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 during the last quarter. BNP Paribas Financial Markets grew its stake in BeOne Medicines by 100.6% in the 4th quarter. BNP Paribas Financial Markets now owns 193,951 shares of the company’s stock valued at $58,924,000 after acquiring an additional 97,244 shares during the last quarter. Slow Capital Inc. grew its stake in BeOne Medicines by 51.5% in the 4th quarter. Slow Capital Inc. now owns 27,301 shares of the company’s stock valued at $8,294,000 after acquiring an additional 9,280 shares during the last quarter. Generali Investments Management Co LLC acquired a new stake in BeOne Medicines in the 3rd quarter valued at about $2,726,000. Finally, AIA Group Ltd grew its stake in BeOne Medicines by 31.4% in the 3rd quarter. AIA Group Ltd now owns 32,303 shares of the company’s stock valued at $11,006,000 after acquiring an additional 7,716 shares during the last quarter. 48.55% of the stock is currently 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.