BeOne Medicines (NASDAQ:ONC) Stock Rating Upgraded by Nomura

Key Points

• Nomura upgraded BeOne Medicines to “strong buy,” adding to an overall “Moderate Buy” consensus. Analysts’ average price target is $394, with recent targets ranging from $395 to $425.
• BeOne Medicines opened at $325.90, with a $35.76 billion market capitalization and a 12-month trading range of $253.95 to $385.22. The company reported quarterly revenue of $1.51 billion and EPS of $0.25.
• Insiders sold approximately $70.3 million of shares over the past 90 days, reportedly primarily to cover tax obligations from equity vesting, while institutional investors and hedge funds own 48.55% of the stock.

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

Other research analysts have also recently issued research reports about the company. Truist Financial lifted their target price on BeOne Medicines from $413.00 to $416.00 and gave the company a "buy" rating in a report on Tuesday, July 7th. Morgan Stanley restated an "overweight" rating and set a $395.00 price target on shares of BeOne Medicines in a research note on Thursday, May 7th. Wells Fargo & Company began coverage on BeOne Medicines in a report on Monday, May 4th. They issued an "overweight" rating and a $400.00 price objective on the stock. Guggenheim raised their price objective on BeOne Medicines from $410.00 to $420.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. Finally, JPMorgan Chase & Co. lifted their price objective on BeOne Medicines from $415.00 to $425.00 and gave the company an "overweight" rating in a research note on Thursday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $394.00.

BeOne Medicines Stock Performance

NASDAQ ONC opened at $325.90 on Monday. The company has a market cap of $35.76 billion, a P/E ratio of 72.91 and a beta of 0.49. BeOne Medicines has a 12 month low of $253.95 and a 12 month high of $385.22. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.64 and a quick ratio of 3.27. The company has a 50-day moving average of $292.10 and a 200-day moving average of $309.39.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 1st. The company reported $0.25 earnings per share (EPS) for the quarter. The company had revenue of $1.51 billion during the quarter. BeOne Medicines had a net margin of 8.94% and a return on equity of 12.06%. As a group, equities analysts predict that BeOne Medicines will post 5.93 earnings per share for the current year.

Insider Activity at BeOne Medicines

In related news, COO Xiaobin Wu sold 1,484 shares of the company's stock in a transaction on Monday, June 8th. The shares were sold at an average price of $269.37, for a total transaction of $399,745.08. Following the completion of the sale, the chief operating officer directly owned 40 shares of the company's stock, valued at approximately $10,774.80. This represents a 97.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Lai Wang sold 1,367 shares of the stock in a transaction on Monday, June 8th. The shares were sold at an average price of $269.38, for a total value of $368,242.46. Following the completion of the sale, the insider owned 40 shares of the company's stock, valued at approximately $10,775.20. This represents a 97.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 233,647 shares of company stock worth $70,335,553. 6.19% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BeOne Medicines

A number of large investors have recently modified their holdings of ONC. Cetera Investment Advisers purchased a new stake in shares of BeOne Medicines during the 2nd quarter valued at about $455,000. Rhumbline Advisers purchased a new position in BeOne Medicines in the 2nd quarter worth approximately $275,000. Arrowstreet Capital Limited Partnership acquired a new stake in BeOne Medicines in the second quarter valued at approximately $505,000. Invesco Ltd. acquired a new stake in BeOne Medicines in the second quarter valued at approximately $422,000. Finally, EverSource Wealth Advisors LLC purchased a new stake in shares of BeOne Medicines during the second quarter valued at approximately $68,000. 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. 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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