Wall Street Zen Upgrades BeOne Medicines (NASDAQ:ONC) to "Strong-Buy"

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

A number of other brokerages also recently issued reports on ONC. Royal Bank Of Canada lifted their price target on shares of BeOne Medicines from $423.00 to $425.00 and gave the company an "outperform" rating in a report on Thursday. Jefferies Financial Group downgraded shares of BeOne Medicines from a "buy" rating to a "hold" rating and reduced their price target for the company from $420.00 to $290.00 in a report on Monday, March 16th. Guggenheim lifted their price target on shares of BeOne Medicines from $410.00 to $420.00 and gave the company a "buy" rating in a report on Thursday. Sanford C. Bernstein upgraded shares of BeOne Medicines from a "hold" rating to an "outperform" rating and set a $414.00 price target on the stock in a report on Monday, January 12th. Finally, Truist Financial reiterated a "buy" rating and issued a $413.00 price target (up from $411.00) on shares of BeOne Medicines in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, BeOne Medicines has a consensus rating of "Moderate Buy" and a consensus target price of $391.00.

BeOne Medicines Stock Down 1.5%

ONC opened at $312.12 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.08 and a current ratio of 3.64. BeOne Medicines has a fifty-two week low of $218.31 and a fifty-two week high of $385.22. The firm's fifty day moving average is $301.40 and its 200 day moving average is $322.00. The stock has a market cap of $34.25 billion, a price-to-earnings ratio of 69.83 and a beta of 0.50.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last released its earnings results on Wednesday, April 1st. The company reported $0.25 earnings per share for the quarter. BeOne Medicines had a net margin of 8.94% and a return on equity of 12.06%. The company had revenue of $1.51 billion for the quarter. On average, sell-side analysts forecast that BeOne Medicines will post 5.44 earnings per share for the current fiscal year.

Insider Activity at BeOne Medicines

In other BeOne Medicines news, SVP Chan Henry Lee sold 341 shares of BeOne Medicines stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $300.00, for a total value of $102,300.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.62% of the stock is owned by insiders.

Hedge Funds Weigh In On BeOne Medicines

Institutional investors and hedge funds have recently made changes to their positions in the business. EFG International AG purchased a new position in shares of BeOne Medicines in the 4th quarter worth $25,000. Leonteq Securities AG purchased a new position in shares of BeOne Medicines in the 4th quarter worth $35,000. Daiwa Securities Group Inc. purchased a new position in shares of BeOne Medicines in the 2nd quarter worth $35,000. CWM LLC grew its stake in shares of BeOne Medicines by 32.8% in the 4th quarter. CWM LLC now owns 158 shares of the company's stock worth $48,000 after buying an additional 39 shares in the last quarter. Finally, Group One Trading LLC purchased a new position in shares of BeOne Medicines in the 4th quarter worth $61,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

About BeOne Medicines

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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