BeOne Medicines (NASDAQ:ONC) Earns Buy Rating from Truist Financial

BeOne Medicines (NASDAQ:ONC)‘s stock had its “buy” rating reiterated by Truist Financial in a research report issued on Thursday,Benzinga reports. They currently have a $413.00 price target on the stock, up from their previous price target of $411.00. Truist Financial’s price target points to a potential upside of 32.32% from the stock’s previous close.

ONC has been the subject of a number of other reports. Royal Bank Of Canada increased their price objective on BeOne Medicines from $417.00 to $425.00 and gave the stock an “outperform” rating in a research report on Thursday, February 26th. Wolfe Research initiated coverage on BeOne Medicines in a research report on Friday, March 27th. They set an “outperform” rating and a $340.00 price objective for the company. Wells Fargo & Company initiated coverage on BeOne Medicines in a report on Monday. They issued an “overweight” rating and a $400.00 price target for the company. Barclays raised their price target on BeOne Medicines from $405.00 to $409.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Wall Street Zen cut BeOne Medicines from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 28th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $391.00.

BeOne Medicines Stock Down 1.5%

BeOne Medicines stock opened at $312.12 on Thursday. BeOne Medicines has a twelve month low of $218.31 and a twelve month high of $385.22. The stock has a 50 day moving average of $301.40 and a two-hundred day moving average of $322.00. The company has a current ratio of 3.64, a quick ratio of 3.08 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $34.25 billion, a price-to-earnings ratio of 69.83 and a beta of 0.50.

BeOne Medicines (NASDAQ:ONC) last posted its quarterly earnings data on Wednesday, April 1st. The company reported $0.25 earnings per share for the quarter. BeOne Medicines had a return on equity of 12.06% and a net margin of 8.94%.The company had revenue of $1.51 billion during the quarter. As a group, research analysts expect that BeOne Medicines will post 5.44 earnings per share for the current year.

Insider Transactions at BeOne Medicines

In related news, SVP Chan Henry Lee sold 341 shares of BeOne Medicines stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $300.00, for a total transaction of $102,300.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 6.62% of the company’s stock.

Hedge Funds Weigh In On BeOne Medicines

Several hedge funds and other institutional investors have recently bought and sold shares of ONC. Bank of America Corp DE acquired a new position in BeOne Medicines during the second quarter worth $67,657,000. Man Group plc acquired a new position in BeOne Medicines during the second quarter worth $59,031,000. Capital International Investors raised its holdings in BeOne Medicines by 3.3% during the third quarter. Capital International Investors now owns 5,046,058 shares of the company’s stock worth $1,716,883,000 after purchasing an additional 161,052 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in BeOne Medicines during the second quarter worth $38,337,000. Finally, Qube Research & Technologies Ltd acquired a new position in BeOne Medicines during the second quarter worth $26,034,000. 48.55% of the stock is owned by institutional investors and hedge funds.

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.