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

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 analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a note issued to investors on Saturday.

Other analysts have also recently issued reports about the company. TD Securities restated a "buy" rating and issued a $334.00 price target on shares of BeOne Medicines in a research note on Thursday, April 24th. Guggenheim boosted their price objective on shares of BeOne Medicines from $350.00 to $365.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Morgan Stanley increased their target price on shares of BeOne Medicines from $313.00 to $330.00 and gave the company an "overweight" rating in a research report on Friday, June 27th. Royal Bank Of Canada upped their price objective on shares of BeOne Medicines from $349.00 to $364.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Finally, JPMorgan Chase & Co. lifted their target price on BeOne Medicines from $321.00 to $345.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $330.89.

BeOne Medicines Price Performance

Shares of NASDAQ:ONC traded up $14.38 during midday trading on Friday, reaching $302.48. 207,191 shares of the company's stock were exchanged, compared to its average volume of 436,057. BeOne Medicines has a fifty-two week low of $170.99 and a fifty-two week high of $313.29. The company has a current ratio of 1.95, a quick ratio of 1.72 and a debt-to-equity ratio of 0.04. The stock has a 50 day moving average price of $271.27. The company has a market capitalization of $33.15 billion, a PE ratio of -174.84 and a beta of 0.27.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.84 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.36. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.24 billion. BeOne Medicines had a negative return on equity of 1.22% and a negative net margin of 3.89%. Equities research analysts predict that BeOne Medicines will post -5.82 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other BeOne Medicines news, COO Xiaobin Wu sold 1,934 shares of the business's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $253.15, for a total transaction of $489,592.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Lai Wang sold 4,041 shares of the business's 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 sale, the insider directly owned 259 shares in the company, valued at approximately $78,344.91. This represents a 93.98% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 102,923 shares of company stock worth $26,960,687. 6.62% of the stock is owned by insiders.

Institutional Investors Weigh In On BeOne Medicines

A number of large investors have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd purchased a new stake in shares of BeOne Medicines during the second quarter worth about $28,000. Farther Finance Advisors LLC purchased a new stake in shares of BeOne Medicines in the second quarter valued at $39,000. Signaturefd LLC purchased a new position in BeOne Medicines during the second quarter worth about $49,000. Parallel Advisors LLC purchased a new stake in BeOne Medicines in the 2nd quarter valued at about $59,000. Finally, FNY Investment Advisers LLC purchased a new stake in BeOne Medicines in the second quarter valued at approximately $121,000. 48.55% of the stock is 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.