BeOne Medicines (NASDAQ:ONC) Cut to Hold at Wall Street Zen

BeOne Medicines (NASDAQ:ONC - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday.

Several other research analysts also recently weighed in on ONC. Morgan Stanley upped their target price on shares of BeOne Medicines from $313.00 to $330.00 and gave the stock an "overweight" rating in a report on Friday, June 27th. JPMorgan Chase & Co. increased their price target on shares of BeOne Medicines from $317.00 to $321.00 and gave the company an "overweight" rating in a report on Friday, June 27th. Guggenheim increased their price target on shares of BeOne Medicines from $348.00 to $350.00 and gave the company a "buy" rating in a report on Thursday, May 8th. TD Securities reaffirmed a "buy" rating and issued a $334.00 price target on shares of BeOne Medicines in a report on Thursday, April 24th. Finally, Royal Bank Of Canada raised shares of BeOne Medicines from an "outperform" rating to a "moderate buy" rating and set a $311.00 price target for the company in a report on Friday, June 27th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, BeOne Medicines has a consensus rating of "Moderate Buy" and an average target price of $320.67.

BeOne Medicines Stock Down 1.2%

Shares of NASDAQ ONC opened at $250.30 on Friday. The stock has a market cap of $27.43 billion, a price-to-earnings ratio of -67.28 and a beta of 0.28. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.71 and a current ratio of 1.96. The stock has a 50 day moving average price of $247.19. BeOne Medicines has a twelve month low of $146.21 and a twelve month high of $287.88.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $1.22 earnings per share for the quarter, beating analysts' consensus estimates of ($0.71) by $1.93. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.12 billion. BeOne Medicines had a negative net margin of 9.40% and a negative return on equity of 7.55%. As a group, equities analysts expect that BeOne Medicines will post -5.82 earnings per share for the current fiscal year.

Insider Buying and Selling at BeOne Medicines

In other news, CEO John Oyler sold 27,802 shares of the business's stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $253.38, for a total transaction of $7,044,470.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Xiaodong Wang sold 41,760 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $223.50, for a total transaction of $9,333,360.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 179,333 shares of company stock valued at $44,290,281. Corporate insiders own 6.62% of the company's stock.

Hedge Funds Weigh In On BeOne Medicines

Several institutional investors and hedge funds have recently bought and sold shares of the company. Farther Finance Advisors LLC acquired a new position in shares of BeOne Medicines in the 2nd quarter worth approximately $39,000. Parallel Advisors LLC acquired a new stake in BeOne Medicines during the 2nd quarter worth approximately $59,000. Finally, Aaron Wealth Advisors LLC acquired a new stake in BeOne Medicines during the 2nd quarter worth approximately $200,000. 48.55% of the stock is currently 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.

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