Key Points
- BeOne Medicines SVP Chan Henry Lee sold 871 shares on June 8 at an average price of $270.42, for proceeds of about $235,536. The sale left him with 160 shares, and the company said it was to cover tax withholding tied to vesting equity awards.
- This was part of a recent series of insider sales by Lee, who also sold 332 shares on both May 13 and April 8 at prices above $310 per share.
- Analysts remain largely bullish on ONC, with a consensus “Moderate Buy” rating and an average price target of $390, even as the stock traded down and was recently below its 50-day and 200-day moving averages.
BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Get Free Report) insider Titus Ball sold 136 shares of the business's stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $271.33, for a total value of $36,900.88. Following the completion of the sale, the insider owned 36 shares of the company's stock, valued at $9,767.88. This trade represents a 79.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
BeOne Medicines Stock Down 1.7%
BeOne Medicines stock opened at $263.61 on Thursday. The stock has a market capitalization of $28.92 billion, a PE ratio of 58.97 and a beta of 0.49. BeOne Medicines Ltd. - Sponsored ADR has a 12 month low of $239.25 and a 12 month high of $385.22. The business has a 50 day simple moving average of $301.03 and a 200-day simple moving average of $315.60. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.64 and a quick ratio of 3.27.
BeOne Medicines (NASDAQ:ONC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 1st. The company reported $0.25 EPS for the quarter. The business had revenue of $1.51 billion during the quarter. BeOne Medicines had a return on equity of 12.06% and a net margin of 8.94%. On average, analysts anticipate that BeOne Medicines Ltd. - Sponsored ADR will post 6.14 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the stock. Mariner LLC raised its holdings in shares of BeOne Medicines by 3.8% during the 4th quarter. Mariner LLC now owns 883 shares of the company's stock worth $269,000 after acquiring an additional 32 shares during the period. Signaturefd LLC raised its holdings in shares of BeOne Medicines by 10.7% during the 4th quarter. Signaturefd LLC now owns 340 shares of the company's stock worth $103,000 after acquiring an additional 33 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of BeOne Medicines by 21.8% during the 4th quarter. Farther Finance Advisors LLC now owns 218 shares of the company's stock worth $66,000 after acquiring an additional 39 shares during the period. CWM LLC raised its holdings in shares of BeOne Medicines by 32.8% during the 4th quarter. CWM LLC now owns 158 shares of the company's stock worth $48,000 after acquiring an additional 39 shares during the period. Finally, Benjamin Edwards Inc. raised its holdings in shares of BeOne Medicines by 8.0% during the 4th quarter. Benjamin Edwards Inc. now owns 690 shares of the company's stock worth $210,000 after acquiring an additional 51 shares during the period. Hedge funds and other institutional investors own 48.55% of the company's stock.
Analysts Set New Price Targets
ONC has been the subject of several research reports. Wall Street Zen upgraded BeOne Medicines from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 9th. Truist Financial reiterated a "buy" rating and set a $413.00 price target (up from $411.00) on shares of BeOne Medicines in a research report on Thursday, May 7th. Jefferies Financial Group downgraded shares of BeOne Medicines from a "buy" rating to a "hold" rating and decreased their price target for the stock from $420.00 to $290.00 in a research note on Monday, March 16th. Wells Fargo & Company assumed coverage on shares of BeOne Medicines in a research note on Monday, May 4th. They issued an "overweight" rating and a $400.00 price target on the stock. Finally, Leerink Partners raised their price target on shares of BeOne Medicines from $364.00 to $367.00 and gave the stock an "outperform" rating in a research note on Friday, May 15th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $390.00.
Get Our Latest Stock Report on ONC
About BeOne Medicines
(
Get Free Report)
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.
Further Reading
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