BeOne Medicines (NASDAQ:ONC) Upgraded by Wall Street Zen to "Strong-Buy" Rating

Key Points

• BeOne Medicines was upgraded by Wall Street Zen from "buy" to "strong-buy", adding to a generally positive analyst backdrop. Overall, the stock now carries a consensus rating of Moderate Buy with a consensus price target of $390.92.
• The stock was down 1.7% and opened at $312.02, below its 52-week high of $385.22 but above its 50-day moving average. The company also shows solid liquidity, with a quick ratio of 3.27 and current ratio of 3.64.
• Insider selling was notable, with CEO John Oyler selling 145,861 shares worth about $44.6 million. Over the last three months, insiders have sold 233,647 shares valued at about $70.3 million.

BeOne Medicines (NASDAQ:ONC - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued to clients and investors on Saturday.

ONC has been the topic of a number of other research reports. Weiss Ratings restated a "sell (d-)" rating on shares of BeOne Medicines in a report on Monday, April 20th. Truist Financial upped their price objective on shares of BeOne Medicines from $413.00 to $416.00 and gave the stock a "buy" rating in a report on Tuesday, July 7th. Citizens Jmp reissued a "market outperform" rating and set a $396.00 target price on shares of BeOne Medicines in a research report on Wednesday, July 1st. Wells Fargo & Company assumed coverage on BeOne Medicines in a report on Monday, May 4th. They set an "overweight" rating and a $400.00 target price on the stock. Finally, Leerink Partners boosted their price target on BeOne Medicines from $364.00 to $367.00 and gave the stock an "outperform" rating in a research report on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, BeOne Medicines has a consensus rating of "Moderate Buy" and a consensus price target of $390.92.

BeOne Medicines Trading Down 1.7%

NASDAQ:ONC opened at $312.02 on Friday. The stock's 50 day moving average price is $290.21 and its 200 day moving average price is $308.95. BeOne Medicines has a 52 week low of $253.95 and a 52 week high of $385.22. The company has a market capitalization of $34.23 billion, a P/E ratio of 69.80 and a beta of 0.49. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.27 and a current ratio of 3.64.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last posted its earnings results on Wednesday, April 1st. The company reported $0.25 earnings per share (EPS) for the quarter. The firm 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%. On average, research analysts forecast that BeOne Medicines will post 5.86 EPS for the current fiscal year.

Insider Activity

In related news, CEO John Oyler sold 145,861 shares of the business's stock in a transaction dated Tuesday, July 14th. The stock was sold at an average price of $305.95, for a total transaction of $44,626,172.95. Following the completion of the transaction, the chief executive officer owned 8,122 shares of the company's stock, valued at approximately $2,484,925.90. The trade was a 94.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Chan Henry Lee sold 664 shares of the stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $302.46, for a total value of $200,833.44. Following the sale, the senior vice president owned 202 shares of the company's stock, valued at approximately $61,096.92. The trade was a 76.67% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 233,647 shares of company stock valued at $70,335,553 over the last three months. 6.19% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Generali Investments Management Co LLC bought a new stake in shares of BeOne Medicines in the second quarter valued at approximately $2,280,000. Charles Schwab Trust Co acquired a new position in BeOne Medicines during the 2nd quarter valued at $855,000. Steadtrust LLC raised its stake in BeOne Medicines by 3.7% during the 2nd quarter. Steadtrust LLC now owns 1,400 shares of the company's stock valued at $399,000 after purchasing an additional 50 shares during the last quarter. Empowered Funds LLC bought a new stake in BeOne Medicines in the 1st quarter valued at $201,000. Finally, Bank of America Corp DE boosted its holdings in BeOne Medicines by 7.0% in the 1st quarter. Bank of America Corp DE now owns 405,273 shares of the company's stock valued at $120,354,000 after purchasing an additional 26,441 shares during the period. 48.55% of the stock is currently owned by institutional investors and hedge funds.

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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