BeOne Medicines’ (ONC) Market Outperform Rating Reiterated at Citizens Jmp

BeOne Medicines (NASDAQ:ONC)‘s stock had its “market outperform” rating reaffirmed by research analysts at Citizens Jmp in a report released on Wednesday,Benzinga reports. They currently 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 current price.

ONC has been the topic of a number of other research reports. Barclays upped their price target on shares of BeOne Medicines from $405.00 to $409.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Royal Bank Of Canada upped their target price on BeOne Medicines from $425.00 to $436.00 and gave the company an “outperform” rating in a research report on Tuesday, June 2nd. Guggenheim lifted their target price on BeOne Medicines from $410.00 to $420.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Leerink Partners boosted their price target on shares of BeOne Medicines from $364.00 to $367.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. Finally, Wolfe Research assumed coverage on shares of BeOne Medicines in a research note on Friday, March 27th. They issued an “outperform” rating and a $340.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, BeOne Medicines presently has an average rating of “Moderate Buy” and an average target price of $390.00.

BeOne Medicines Price Performance

ONC traded up $4.24 on Wednesday, reaching $289.21. The stock had a trading volume of 66,098 shares, compared to its average volume of 259,793. The firm has a 50-day moving average of $290.36 and a 200-day moving average of $309.63. BeOne Medicines has a fifty-two week low of $239.25 and a fifty-two week high of $385.22. The company has a market capitalization of $31.73 billion, a price-to-earnings ratio of 64.43 and a beta of 0.49. 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 results on Wednesday, April 1st. The company reported $0.25 EPS for the quarter. The company 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, sell-side analysts anticipate that BeOne Medicines will post 6.14 EPS for the current year.

Insiders Place Their Bets

In other BeOne Medicines news, insider Titus B. Ball sold 169 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $257.20, for a total transaction of $43,466.80. Following the sale, the insider directly owned 99,645 shares of the company’s stock, valued at $25,628,694. This represents a 0.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Xiaobin Wu sold 1,292 shares of BeOne Medicines stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $276.26, for a total transaction of $356,927.92. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 27,236 shares of company stock worth $7,354,951 in the last ninety days. 6.19% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ONC. Mariner LLC raised its holdings in BeOne Medicines by 3.8% during the 4th quarter. Mariner LLC now owns 883 shares of the company’s stock valued at $269,000 after acquiring an additional 32 shares during the period. Signaturefd LLC grew its position in shares of BeOne Medicines by 10.7% in the fourth quarter. Signaturefd LLC now owns 340 shares of the company’s stock valued at $103,000 after purchasing an additional 33 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of BeOne Medicines by 21.8% during the 4th quarter. Farther Finance Advisors LLC now owns 218 shares of the company’s stock valued at $66,000 after purchasing an additional 39 shares during the period. CWM LLC raised its stake in shares of BeOne Medicines by 32.8% during 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 period. Finally, Benjamin Edwards Inc. lifted its holdings in BeOne Medicines by 8.0% during the 4th quarter. Benjamin Edwards Inc. now owns 690 shares of the company’s stock worth $210,000 after purchasing an additional 51 shares in the last quarter. 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. The company was founded by Xiao Dong Wang and John V. Oyler on October 28, 2010 and is headquartered in Basel, Switzerland.