BeOne Medicines (NASDAQ:ONC) Downgraded by Wall Street Zen to "Hold"

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

Other analysts also recently issued reports about the stock. Royal Bank Of Canada raised shares of BeOne Medicines from an "outperform" rating to a "moderate buy" rating and set a $311.00 target price on the stock in a research note on Friday, June 27th. Guggenheim boosted 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. JPMorgan Chase & Co. boosted 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. Morgan Stanley boosted their price target on shares of BeOne Medicines from $313.00 to $330.00 and gave the company an "overweight" rating in a report on Friday, June 27th. Finally, TD Securities restated a "buy" rating and set a $334.00 price target on shares of BeOne Medicines in a report on Thursday, April 24th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, BeOne Medicines presently has an average rating of "Moderate Buy" and a consensus price target of $320.67.

BeOne Medicines Stock Performance

Shares of ONC traded up $16.67 during trading hours on Friday, hitting $268.81. The stock had a trading volume of 449,785 shares, compared to its average volume of 432,389. 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 company has a market capitalization of $29.46 billion, a price-to-earnings ratio of -72.26 and a beta of 0.28. The stock has a fifty day simple moving average of $247.15. BeOne Medicines has a 12-month low of $146.87 and a 12-month high of $287.88.

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

Insider Buying and Selling at BeOne Medicines

In related news, COO Xiaobin Wu sold 1,363 shares of the company's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $260.00, for a total value of $354,380.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Xiaodong Wang sold 2,007 shares of the company's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $265.50, for a total transaction of $532,858.50. The disclosure for this sale can be found here. Insiders have sold a total of 137,573 shares of company stock valued at $34,156,799 over the last quarter. 6.62% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ONC. Avanza Fonder AB bought a new stake in shares of BeOne Medicines in the second quarter valued at approximately $199,000. Farther Finance Advisors LLC purchased a new position in BeOne Medicines in the 2nd quarter worth approximately $39,000. Aaron Wealth Advisors LLC purchased a new position in BeOne Medicines in the 2nd quarter worth approximately $200,000. Finally, Parallel Advisors LLC purchased a new position in BeOne Medicines in the 2nd quarter worth approximately $59,000. 48.55% of the stock is owned by 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.