BeOne Medicines (NASDAQ:ONC) Hits New 52-Week High – Still a Buy?

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) reached 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 trading hands. The stock had previously closed at $343.65.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Zacks Research cut BeOne Medicines from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 28th. Royal Bank Of Canada boosted their target price on BeOne Medicines from $374.00 to $395.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. JPMorgan Chase & Co. increased their price target on shares of BeOne Medicines from $345.00 to $385.00 and gave the company an “overweight” rating in a research report on Wednesday, October 8th. Weiss Ratings restated a “sell (d-)” rating on shares of BeOne Medicines in a report on Wednesday, October 8th. Finally, Citigroup upped their price objective on shares of BeOne Medicines from $399.00 to $405.00 and gave the company a “buy” rating in a research note on Monday. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, BeOne Medicines presently has a consensus rating of “Moderate Buy” and a consensus target price of $357.33.

BeOne Medicines Stock Down 0.7%

The firm has a market cap of $40.12 billion, a PE ratio of 717.29 and a beta of 0.31. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.17 and a current ratio of 2.39. The company’s 50-day simple moving average is $329.90 and its two-hundred day simple moving average is $291.46.

Insider Activity at BeOne Medicines

In related news, Director Corazon (Corsee) D. Sanders sold 2,665 shares of the firm’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $337.00, for a total value of $898,105.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Chan Henry Lee sold 996 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $349.17, for a total value of $347,773.32. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 73,272 shares of company stock valued at $24,934,995 in the last quarter. 6.62% of the stock is currently owned by company insiders.

Institutional Trading of BeOne Medicines

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ONC. Slow Capital Inc. bought a new position in shares of BeOne Medicines during the second quarter valued at approximately $4,377,000. Public Employees Retirement System of Ohio bought a new stake in shares of BeOne Medicines in the 2nd quarter worth approximately $3,491,000. Fox Run Management L.L.C. purchased a new stake in shares of BeOne Medicines in the 2nd quarter worth approximately $496,000. Sequoia Financial Advisors LLC purchased a new stake in shares of BeOne Medicines in the 2nd quarter worth approximately $298,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in BeOne Medicines during the 2nd quarter valued at approximately $926,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.

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.