BeOne Medicines (NASDAQ:ONC) Raised to "Strong-Buy" at Wells Fargo & Company

Key Points

• Wells Fargo & Company upgraded BeOne Medicines (NASDAQ:ONC) to a "Strong-Buy" rating in its latest report.
• Multiple analysts including RBC, Guggenheim and Barclays have raised price targets, leaving a MarketBeat consensus target of $390.58 with analyst counts of 1 Strong Buy, 10 Buy, 2 Hold and 1 Sell (average rating: "Moderate Buy").
• Shares opened at $297.49 with a market cap of $32.64 billion; the company reported quarterly EPS of $0.25 on $1.51 billion revenue and a net margin of 5.37%.

BeOne Medicines (NASDAQ:ONC - Get Free Report) was upgraded by Wells Fargo & Company to a "strong-buy" rating in a report issued on Monday,Zacks.com reports.

Several other research firms have also recently weighed in on ONC. Royal Bank Of Canada increased their target price on shares of BeOne Medicines from $417.00 to $425.00 and gave the company an "outperform" rating in a research note on Thursday, February 26th. Guggenheim boosted their price target on BeOne Medicines from $400.00 to $410.00 and gave the company a "buy" rating in a research note on Friday, February 27th. Barclays upped their price target on BeOne Medicines from $394.00 to $405.00 and gave the company an "overweight" rating in a report on Friday, February 27th. Weiss Ratings reiterated a "sell (d-)" rating on shares of BeOne Medicines in a research report on Monday, April 20th. Finally, Wolfe Research started coverage on BeOne Medicines in a report on Friday, March 27th. They set an "outperform" rating and a $340.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, BeOne Medicines has an average rating of "Moderate Buy" and a consensus target price of $390.58.

BeOne Medicines Trading Up 0.1%

Shares of ONC stock opened at $297.49 on Monday. The firm has a market capitalization of $32.64 billion, a P/E ratio of 118.05 and a beta of 0.50. BeOne Medicines has a 1 year low of $218.31 and a 1 year high of $385.22. The firm's fifty day simple moving average is $303.59 and its 200 day simple moving average is $322.03. The company has a current ratio of 3.41, a quick ratio of 3.08 and a debt-to-equity ratio of 0.22.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.25 earnings per share for the quarter. The firm had revenue of $1.51 billion during the quarter. BeOne Medicines had a net margin of 5.37% and a return on equity of 10.70%. As a group, sell-side analysts predict that BeOne Medicines will post 5.44 EPS for the current year.

Insider Activity

In other BeOne Medicines news, SVP Chan Henry Lee sold 341 shares of BeOne Medicines stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $300.00, for a total transaction of $102,300.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 6.62% of the company's stock.

Hedge Funds Weigh In On BeOne Medicines

Several institutional investors have recently added to or reduced their stakes in ONC. Mariner LLC grew its stake in BeOne Medicines by 3.8% during the fourth quarter. Mariner LLC now owns 883 shares of the company's stock worth $269,000 after buying an additional 32 shares during the last quarter. Signaturefd LLC grew its position in BeOne Medicines by 10.7% during the 4th quarter. Signaturefd LLC now owns 340 shares of the company's stock worth $103,000 after acquiring an additional 33 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in 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 in the last quarter. CWM LLC raised its position in BeOne Medicines by 32.8% in 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 last quarter. Finally, Sequoia Financial Advisors LLC boosted its stake in BeOne Medicines by 4.1% in the third quarter. Sequoia Financial Advisors LLC now owns 1,281 shares of the company's stock worth $436,000 after purchasing an additional 50 shares in the last quarter. 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. The company was founded by Xiao Dong Wang and John V. Oyler on October 28, 2010 and is headquartered in Basel, Switzerland.

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