Zacks Research Upgrades BeOne Medicines (NASDAQ:ONC) to “Strong-Buy”

BeOne Medicines (NASDAQ:ONC) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Thursday,Zacks.com reports.

Several other equities research analysts have also recently issued reports on the stock. Wolfe Research began coverage on shares of BeOne Medicines in a research note on Friday, March 27th. They set an “outperform” rating and a $340.00 price target on the stock. Leerink Partners raised their price target on shares of BeOne Medicines from $364.00 to $367.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. Morgan Stanley reaffirmed an “overweight” rating and set a $395.00 price target on shares of BeOne Medicines in a research note on Thursday, May 7th. Jefferies Financial Group cut shares of BeOne Medicines from a “buy” rating to a “hold” rating and decreased their price target for the stock from $420.00 to $290.00 in a research note on Monday, March 16th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BeOne Medicines in a research note on Monday, April 20th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $390.00.

BeOne Medicines Price Performance

Shares of NASDAQ ONC opened at $270.10 on Thursday. The stock has a market cap of $29.64 billion, a price-to-earnings ratio of 60.43 and a beta of 0.49. BeOne Medicines has a 52 week low of $239.25 and a 52 week high of $385.22. The company’s 50-day moving average price is $301.86 and its 200 day moving average price is $317.87. 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 issued its quarterly earnings data on Wednesday, April 1st. The company reported $0.25 EPS for the quarter. The firm had revenue of $1.51 billion for the quarter. BeOne Medicines had a net margin of 8.94% and a return on equity of 12.06%. As a group, research analysts forecast that BeOne Medicines will post 6.14 earnings per share for the current fiscal year.

Insider Activity at BeOne Medicines

In other news, SVP Chan Henry Lee sold 341 shares of the stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $300.00, for a total transaction of $102,300.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Corazon (Corsee) D. Sanders sold 212 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $309.59, for a total transaction of $65,633.08. 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. In the last 90 days, insiders have sold 1,641 shares of company stock valued at $505,791. Insiders own 6.19% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ONC. EFG International AG purchased a new position in BeOne Medicines in the fourth quarter valued at approximately $25,000. Leonteq Securities AG purchased a new position in BeOne Medicines in the fourth quarter valued at approximately $35,000. Daiwa Securities Group Inc. purchased a new position in BeOne Medicines in the second quarter valued at approximately $35,000. CWM LLC raised its holdings in BeOne Medicines by 32.8% in the fourth quarter. CWM LLC now owns 158 shares of the company’s stock valued at $48,000 after buying an additional 39 shares during the period. Finally, Group One Trading LLC purchased a new position in BeOne Medicines in the fourth quarter valued at approximately $61,000. 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. The company was founded by Xiao Dong Wang and John V. Oyler on October 28, 2010 and is headquartered in Basel, Switzerland.