BeOne Medicines (NASDAQ:ONC) Research Coverage Started at Truist Financial

Truist Financial began coverage on shares of BeOne Medicines (NASDAQ:ONC) in a research note issued to investors on Monday, Marketbeat.com reports. The firm issued a buy rating and a $400.00 price target on the stock.

Several other equities research analysts have also issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of BeOne Medicines from $345.00 to $385.00 and gave the stock an “overweight” rating in a report on Wednesday, October 8th. 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 for the company. Morgan Stanley lifted their target price on shares of BeOne Medicines from $350.00 to $383.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. Citigroup upped their target price on shares of BeOne Medicines from $399.00 to $405.00 and gave the stock a “buy” rating in a report on Monday, November 10th. Finally, Citizens Jmp increased their price target on BeOne Medicines from $348.00 to $396.00 and gave the stock a “market outperform” rating in a research note on Friday, November 7th. Twelve analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $365.79.

BeOne Medicines Stock Performance

Shares of ONC opened at $340.64 on Monday. The business has a 50-day simple moving average of $332.64 and a two-hundred day simple moving average of $297.57. The company has a quick ratio of 2.17, a current ratio of 2.39 and a debt-to-equity ratio of 0.03. BeOne Medicines has a 52 week low of $170.99 and a 52 week high of $385.22. The stock has a market cap of $40.38 billion, a price-to-earnings ratio of 667.92 and a beta of 0.31.

Insiders Place Their Bets

In other BeOne Medicines news, Director Corazon (Corsee) D. Sanders sold 2,665 shares of BeOne Medicines stock in a transaction that occurred on 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 filing with the SEC, which is available at this hyperlink. Also, COO Xiaobin Wu sold 3,991 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $380.43, for a total value of $1,518,296.13. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 81,254 shares of company stock worth $27,971,587. 6.62% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BeOne Medicines

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ONC. Parallel Advisors LLC purchased a new position in shares of BeOne Medicines in the 2nd quarter worth approximately $59,000. Aaron Wealth Advisors LLC bought a new stake in BeOne Medicines in the second quarter worth $200,000. Farther Finance Advisors LLC purchased a new position in BeOne Medicines during the second quarter worth $39,000. Avanza Fonder AB bought a new position in BeOne Medicines during the second quarter valued at $199,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of BeOne Medicines in the second quarter valued at $3,491,000. 48.55% of the stock is currently owned by hedge funds and other 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.