BeOne Medicines (NASDAQ:ONC) Upgraded at Wall Street Zen

Key Points

• BeOne Medicines was upgraded to a "strong-buy" rating by Wall Street Zen, reflecting increasing confidence among stock analysts in the company's potential.
• Multiple analysts have raised their price targets for BeOne Medicines, with the consensus price target now at $330.89, indicating positive market sentiment.
• BeOne Medicines recently reported earnings of $0.84 per share, significantly surpassing the consensus estimate of $0.48, alongside a revenue of $1.32 billion for the quarter.

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 note issued on Saturday.

ONC has been the topic of several other research reports. JPMorgan Chase & Co. upped their target price on BeOne Medicines from $321.00 to $345.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Royal Bank Of Canada upped their target price on BeOne Medicines from $349.00 to $364.00 and gave the company an "outperform" rating in a report on Thursday. Morgan Stanley upped their price objective on BeOne Medicines from $313.00 to $330.00 and gave the company an "overweight" rating in a research report on Friday, June 27th. Guggenheim upped their price objective on BeOne Medicines from $350.00 to $365.00 and gave the company a "buy" rating in a research report on Thursday. Finally, TD Securities restated a "buy" rating and issued a $334.00 price objective on shares of BeOne Medicines in a research report on Thursday, April 24th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, BeOne Medicines currently has an average rating of "Buy" and a consensus price target of $330.89.

BeOne Medicines Stock Up 0.5%

ONC traded up $1.57 during trading on Friday, hitting $289.75. 394,876 shares of the stock were exchanged, compared to its average volume of 438,670. The company has a market cap of $31.76 billion, a price-to-earnings ratio of -167.48 and a beta of 0.27. BeOne Medicines has a 1-year low of $170.99 and a 1-year high of $313.29. The company's fifty day simple moving average is $269.66. The company has a quick ratio of 1.72, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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%. Analysts predict that BeOne Medicines will post -5.82 EPS for the current year.

Insiders Place Their Bets

In related news, insider Lai Wang sold 4,041 shares of the stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $302.49, for a total transaction of $1,222,362.09. Following the transaction, the insider directly owned 259 shares in the company, valued at approximately $78,344.91. This represents a 93.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Xiaodong Wang sold 41,760 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $223.50, for a total value of $9,333,360.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 144,683 shares of company stock valued at $36,294,047. 6.62% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BeOne Medicines

A number of large investors have recently bought and sold shares of ONC. Caitong International Asset Management Co. Ltd bought a new stake in shares of BeOne Medicines during the second quarter valued at approximately $28,000. Farther Finance Advisors LLC bought a new stake in shares of BeOne Medicines during the second quarter valued at approximately $39,000. Signaturefd LLC acquired a new position in shares of BeOne Medicines during the second quarter valued at approximately $49,000. Parallel Advisors LLC acquired a new position in shares of BeOne Medicines during the second quarter valued at approximately $59,000. Finally, FNY Investment Advisers LLC acquired a new position in shares of BeOne Medicines during the second quarter valued at approximately $121,000. Institutional investors 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.