Royal Bank Of Canada Upgrades BeOne Medicines (NASDAQ:ONC) to Moderate Buy

BeOne Medicines (NASDAQ:ONC - Get Free Report) was upgraded by equities research analysts at Royal Bank Of Canada from an "outperform" rating to a "moderate buy" rating in a research report issued to clients and investors on Friday, MarketBeat reports. The firm currently has a $311.00 price objective on the stock. Royal Bank Of Canada's price objective would indicate a potential upside of 28.48% from the stock's current price.

A number of other equities analysts also recently commented on ONC. JMP Securities set a $348.00 target price on BeOne Medicines in a research note on Friday, February 28th. TD Securities reissued a "buy" rating and set a $334.00 price target on shares of BeOne Medicines in a report on Thursday, April 24th. Wall Street Zen raised shares of BeOne Medicines from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. raised their price target on BeOne Medicines from $311.00 to $317.00 and gave the company an "overweight" rating in a report on Monday, April 21st. Finally, Guggenheim upped their price objective on shares of BeOne Medicines from $348.00 to $350.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, BeOne Medicines currently has an average rating of "Buy" and an average price target of $320.67.

BeOne Medicines Stock Up 0.4%

Shares of ONC traded up $0.87 during mid-day trading on Friday, hitting $242.07. The stock had a trading volume of 395,797 shares, compared to its average volume of 442,792. BeOne Medicines has a fifty-two week low of $142.00 and a fifty-two week high of $287.88. 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 market capitalization of $26.53 billion, a P/E ratio of -65.07 and a beta of 0.30. The company's fifty day moving average price is $247.90.

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

Insiders Place Their Bets

In related news, insider Xiaodong Wang sold 41,760 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $223.50, for a total value of $9,333,360.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Chan Henry Lee sold 700 shares of BeOne Medicines stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $256.11, for a total value of $179,277.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 203,452 shares of company stock worth $51,856,379. 6.62% of the stock is owned by corporate insiders.

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.