BeOne Medicines (NASDAQ:ONC) Reaches New 1-Year High – Still a Buy?

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC)’s share price hit a new 52-week high on Wednesday . The company traded as high as $367.80 and last traded at $365.31, with a volume of 283548 shares traded. The stock had previously closed at $343.65.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ONC shares. Barclays initiated coverage on shares of BeOne Medicines in a research note on Thursday, September 18th. They issued an “overweight” rating and a $385.00 price objective on the stock. Zacks Research lowered BeOne Medicines from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 28th. Guggenheim boosted their price target on BeOne Medicines from $350.00 to $365.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Royal Bank Of Canada upped their price objective on BeOne Medicines from $374.00 to $395.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Finally, Wall Street Zen upgraded BeOne Medicines from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 3rd. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, BeOne Medicines presently has a consensus rating of “Moderate Buy” and a consensus target price of $357.33.

BeOne Medicines Stock Performance

The company has a fifty day moving average price of $327.61 and a two-hundred day moving average price of $289.50. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.39 and a quick ratio of 2.17. The company has a market capitalization of $41.10 billion, a P/E ratio of 734.92 and a beta of 0.31.

Insider Activity

In other BeOne Medicines news, SVP Chan Henry Lee sold 10,671 shares of the company’s stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $350.40, for a total value of $3,739,118.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Corazon (Corsee) D. Sanders sold 2,665 shares of BeOne Medicines stock in a transaction on Friday, September 5th. The stock was sold at an average price of $337.00, for a total transaction of $898,105.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 96,203 shares of company stock worth $30,923,233. Company insiders own 6.62% of the company’s stock.

Institutional Investors Weigh In On BeOne Medicines

A number of institutional investors have recently made changes to their positions in the stock. Primecap Management Co. CA bought a new position in shares of BeOne Medicines during the second quarter worth about $1,231,720,000. Temasek Holdings Private Ltd acquired a new stake in BeOne Medicines during the 2nd quarter valued at approximately $244,603,000. Marshall Wace LLP bought a new position in BeOne Medicines during the 2nd quarter worth approximately $113,190,000. Baird Financial Group Inc. bought a new position in BeOne Medicines during the 2nd quarter worth approximately $82,895,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of BeOne Medicines in the 2nd quarter worth approximately $73,347,000. Institutional investors own 48.55% of the company’s stock.

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.