BeOne Medicines (NASDAQ:ONC) Upgraded to “Strong-Buy” at Wells Fargo & Company

Wells Fargo & Company upgraded shares of BeOne Medicines (NASDAQ:ONC) to a strong-buy rating in a report issued on Monday,Zacks.com reports.

ONC has been the subject of several other reports. Sanford C. Bernstein upgraded shares of BeOne Medicines from a “hold” rating to an “outperform” rating and set a $414.00 price objective for the company in a research report on Monday, January 12th. Guggenheim lifted their price target on BeOne Medicines from $400.00 to $410.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Truist Financial boosted their price target on BeOne Medicines from $400.00 to $412.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Barclays upped their price objective on BeOne Medicines from $394.00 to $405.00 and gave the stock an “overweight” rating in a research report on Friday, February 27th. Finally, Wall Street Zen lowered BeOne Medicines from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 28th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, BeOne Medicines currently has a consensus rating of “Moderate Buy” and a consensus price target of $390.58.

BeOne Medicines Trading Up 0.1%

Shares of BeOne Medicines stock opened at $297.49 on Monday. The company has a quick ratio of 3.08, a current ratio of 3.41 and a debt-to-equity ratio of 0.22. BeOne Medicines has a 12-month low of $218.31 and a 12-month high of $385.22. The company has a market capitalization of $32.64 billion, a price-to-earnings ratio of 118.05 and a beta of 0.50. The firm’s 50-day moving average price is $303.59 and its two-hundred day moving average price is $322.03.

BeOne Medicines (NASDAQ:ONC) last issued its earnings results on Wednesday, May 6th. The company reported $0.25 EPS for the quarter. The company had revenue of $1.51 billion during the quarter. BeOne Medicines had a net margin of 5.37% and a return on equity of 10.70%. On average, analysts forecast that BeOne Medicines will post 5.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other BeOne Medicines news, SVP Chan Henry Lee sold 332 shares of the business’s stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $311.59, for a total transaction of $103,447.88. Following the sale, the senior vice president owned 318,370 shares of the company’s stock, valued at approximately $99,200,908.30. The trade was a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.62% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BeOne Medicines

Hedge funds have recently modified their holdings of the company. Cetera Investment Advisers acquired a new position in BeOne Medicines in the 2nd quarter worth about $455,000. Rhumbline Advisers acquired a new stake in shares of BeOne Medicines during the second quarter valued at about $275,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of BeOne Medicines during the second quarter valued at about $505,000. Invesco Ltd. bought a new stake in shares of BeOne Medicines during the second quarter worth about $422,000. Finally, EverSource Wealth Advisors LLC acquired a new position in shares of BeOne Medicines in the second quarter valued at approximately $68,000. Institutional investors and hedge funds own 48.55% of the company’s stock.

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.