BeOne Medicines (NASDAQ:ONC) Receives “Market Outperform” Rating from Citizens Jmp

BeOne Medicines (NASDAQ:ONC)‘s stock had its “market outperform” rating reaffirmed by equities research analysts at Citizens Jmp in a research report issued on Wednesday,Benzinga reports. They presently have a $396.00 target price on the stock. Citizens Jmp’s price objective would suggest a potential upside of 36.92% from the company’s previous close.

A number of other research analysts have also recently issued reports on ONC. Wall Street Zen raised BeOne Medicines from a “buy” rating to a “strong-buy” rating in a report on Sunday. Truist Financial reissued a “buy” rating and set a $413.00 price objective (up from $411.00) on shares of BeOne Medicines in a report on Thursday, May 7th. Leerink Partners raised their price objective on shares of BeOne Medicines from $364.00 to $367.00 and gave the company an “outperform” rating in a research report on Friday, May 15th. Barclays boosted their target price on shares of BeOne Medicines from $405.00 to $409.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of BeOne Medicines in a research note on Monday, April 20th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $390.00.

BeOne Medicines Price Performance

NASDAQ ONC traded up $4.24 during trading hours on Wednesday, reaching $289.21. 66,098 shares of the company’s stock were exchanged, compared to its average volume of 259,793. The stock has a market cap of $31.73 billion, a PE ratio of 64.43 and a beta of 0.49. BeOne Medicines has a one year low of $239.25 and a one year high of $385.22. The firm has a fifty day moving average of $290.36 and a 200-day moving average of $309.63. The company has a current ratio of 3.64, a quick ratio of 3.27 and a debt-to-equity ratio of 0.20.

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

Insider Buying and Selling at BeOne Medicines

In other news, COO Xiaobin Wu sold 1,484 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $269.37, for a total transaction of $399,745.08. Following the completion of the transaction, the chief operating officer directly owned 40 shares of the company’s stock, valued at $10,774.80. This trade represents a 97.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO John Oyler sold 4,940 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $270.56, for a total value of $1,336,566.40. Following the completion of the transaction, the chief executive officer owned 1,120 shares of the company’s stock, valued at $303,027.20. The trade was a 81.52% decrease in their position. 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. Over the last ninety days, insiders sold 27,236 shares of company stock valued at $7,354,951. Company insiders own 6.19% of the company’s stock.

Hedge Funds Weigh In On BeOne Medicines

Large investors have recently modified their holdings of the stock. EFG International AG bought a new position in BeOne Medicines during the fourth quarter worth about $25,000. Leonteq Securities AG bought a new stake in BeOne Medicines during the fourth quarter worth $35,000. Daiwa Securities Group Inc. bought a new position in shares of BeOne Medicines in the 2nd quarter valued at $35,000. CWM LLC increased its stake in shares of BeOne Medicines by 32.8% in the 4th quarter. CWM LLC now owns 158 shares of the company’s stock valued at $48,000 after purchasing an additional 39 shares during the last quarter. Finally, Group One Trading LLC acquired a new position in shares of BeOne Medicines during the 4th quarter worth $61,000. 48.55% of the stock is owned by 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.