BeOne Medicines (NASDAQ:ONC) Coverage Initiated by Analysts at Barclays

Key Points

• Barclays has initiated coverage on BeOne Medicines (NASDAQ:ONC) with an "overweight" rating and a price target of $385.00, indicating a potential upside of 15.89% from the previous close.
• BeOne Medicines recently reported earnings of $0.84 per share, which surpassed analysts' expectations of $0.48, while the company's revenue for the quarter reached $1.32 billion.
• Insider transactions reveal that company executives have sold a total of 161,084 shares valued at approximately $47.77 million in the last three months.

Barclays assumed coverage on shares of BeOne Medicines (NASDAQ:ONC - Get Free Report) in a report issued on Thursday, MarketBeat reports. The firm set an "overweight" rating and a $385.00 price target on the stock. Barclays's price target indicates a potential upside of 15.13% from the stock's previous close.

Several other equities analysts have also recently issued reports on the company. Royal Bank Of Canada raised their price target on BeOne Medicines from $349.00 to $364.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Guggenheim increased their price objective on BeOne Medicines from $350.00 to $365.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. JPMorgan Chase & Co. raised their price target on BeOne Medicines from $321.00 to $345.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Morgan Stanley lifted their price target on BeOne Medicines from $313.00 to $330.00 and gave the stock an "overweight" rating in a report on Friday, June 27th. Finally, Wall Street Zen cut BeOne Medicines from a "strong-buy" rating to a "buy" rating in a report on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company. According to MarketBeat.com, BeOne Medicines presently has a consensus rating of "Buy" and an average target price of $336.30.

BeOne Medicines Price Performance

BeOne Medicines stock traded down $8.49 during midday trading on Thursday, hitting $334.40. The company's stock had a trading volume of 241,895 shares, compared to its average volume of 336,086. The company has a quick ratio of 1.72, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock's 50-day moving average price is $308.71 and its 200-day moving average price is $268.25. BeOne Medicines has a 12 month low of $170.99 and a 12 month high of $351.27. The company has a market capitalization of $36.65 billion, a PE ratio of -193.29 and a beta of 0.21.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.48 by $0.36. BeOne Medicines had a negative net margin of 3.89% and a negative return on equity of 1.22%. The firm had revenue of $1.32 billion for the quarter, compared to analysts' expectations of $1.24 billion. Analysts anticipate 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, SVP Chan Henry Lee sold 11,013 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $300.45, for a total value of $3,308,855.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Lai Wang sold 5,000 shares of the stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $350.06, for a total value of $1,750,300.00. The disclosure for this sale can be found here. Insiders have sold a total of 188,887 shares of company stock worth $56,824,367 over the last three months. 6.62% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ONC. Anchor Investment Management LLC purchased a new position in shares of BeOne Medicines during the second quarter valued at about $26,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of BeOne Medicines during the second quarter valued at approximately $28,000. Daiwa Securities Group Inc. bought a new stake in shares of BeOne Medicines during the second quarter valued at approximately $35,000. Farther Finance Advisors LLC bought a new position in BeOne Medicines in the second quarter worth approximately $39,000. Finally, Signaturefd LLC bought a new position in BeOne Medicines in the second quarter worth approximately $49,000. Hedge funds and other institutional investors own 48.55% of the company's stock.

BeOne Medicines Company Profile

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.