BeOne Medicines (NASDAQ:ONC) Receives Sell (D-) Rating from Weiss Ratings

Key Points

• BeOne Medicines (NASDAQ:ONC) has received a Sell (D-) rating from Weiss Ratings, which reaffirms a negative outlook for the stock.
• The company recently reported quarterly earnings that exceeded analyst expectations, with earnings per share of $0.84 compared to the consensus estimate of $0.48.
• Several investment firms have issued positive ratings, with price targets raised, leading to an overall average rating of "Moderate Buy" and a consensus target price of $340.30.

BeOne Medicines (NASDAQ:ONC - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by stock analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

ONC has been the topic of several other research reports. Morgan Stanley boosted their price target on BeOne Medicines from $313.00 to $330.00 and gave the stock an "overweight" rating in a research note on Friday, June 27th. Zacks Research upgraded BeOne Medicines from a "hold" rating to a "strong-buy" rating in a research report on Thursday, September 18th. Guggenheim lifted their price objective on BeOne Medicines from $350.00 to $365.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. lifted their price objective on BeOne Medicines from $321.00 to $345.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. Finally, Barclays initiated coverage on BeOne Medicines in a research report on Thursday, September 18th. They set an "overweight" rating and a $385.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $340.30.

BeOne Medicines Stock Performance

Shares of NASDAQ ONC traded up $9.47 during midday trading on Wednesday, reaching $351.09. 155,834 shares of the company were exchanged, compared to its average volume of 409,353. The company has a current ratio of 1.95, a quick ratio of 1.72 and a debt-to-equity ratio of 0.04. BeOne Medicines has a 1 year low of $170.99 and a 1 year high of $355.30. The stock has a fifty day simple moving average of $321.31 and a 200 day simple moving average of $275.53. The stock has a market cap of $38.48 billion, a P/E ratio of -202.94 and a beta of 0.31.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last announced 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. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.24 billion. BeOne Medicines had a negative return on equity of 1.22% and a negative net margin of 3.89%. On average, research analysts forecast 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, CEO John Oyler sold 27,803 shares of BeOne Medicines stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $325.71, for a total value of $9,055,715.13. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Corazon (Corsee) D. Sanders sold 2,665 shares of the business's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $337.00, for a total value of $898,105.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 153,513 shares of company stock valued at $47,795,028. Corporate insiders own 6.62% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio acquired a new position in BeOne Medicines in the second quarter worth approximately $3,491,000. Slow Capital Inc. acquired a new position in BeOne Medicines in the 2nd quarter worth approximately $4,377,000. Aaron Wealth Advisors LLC acquired a new position in BeOne Medicines in the 2nd quarter worth approximately $200,000. Avanza Fonder AB acquired a new position in BeOne Medicines in the 2nd quarter worth approximately $199,000. Finally, Perigon Wealth Management LLC acquired a new position in BeOne Medicines in the 2nd quarter worth approximately $581,000. Institutional investors and hedge funds 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.

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