Key Points
- BeOne Medicines insider Lai Wang sold 1,068 shares on June 23 at an average price of $276.74, totaling about $295,558. The filing says the sale was made to cover tax withholding tied to vesting equity awards.
- Wang has been actively selling shares recently, with additional sales on June 16, June 11, and June 8 at prices ranging from about $261 to $269 per share.
- Despite the insider selling, Wall Street remains broadly positive on ONC, with an average analyst rating of “Moderate Buy” and a consensus price target of $390, above the stock’s Friday open near $275.34.
BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Get Free Report) insider Lai Wang sold 1,068 shares of the business's stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $276.74, for a total transaction of $295,558.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Lai Wang also recently made the following trade(s):
- On Tuesday, June 16th, Lai Wang sold 1,169 shares of BeOne Medicines stock. The shares were sold at an average price of $265.39, for a total transaction of $310,240.91.
- On Thursday, June 11th, Lai Wang sold 756 shares of BeOne Medicines stock. The stock was sold at an average price of $261.00, for a total value of $197,316.00.
- On Monday, June 8th, Lai Wang sold 1,367 shares of BeOne Medicines stock. The shares were sold at an average price of $269.38, for a total transaction of $368,242.46.
BeOne Medicines Stock Down 0.6%
ONC stock opened at $275.34 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.64 and a quick ratio of 3.27. The company's 50 day simple moving average is $292.55 and its 200-day simple moving average is $310.42. BeOne Medicines Ltd. - Sponsored ADR has a 12 month low of $239.25 and a 12 month high of $385.22. The firm has a market capitalization of $30.21 billion, a PE ratio of 61.60 and a beta of 0.49.
BeOne Medicines (NASDAQ:ONC - Get Free Report) last issued its quarterly earnings data on Wednesday, April 1st. The company reported $0.25 earnings per share (EPS) for the quarter. BeOne Medicines had a return on equity of 12.06% and a net margin of 8.94%.The firm had revenue of $1.51 billion during the quarter. Equities analysts expect that BeOne Medicines Ltd. - Sponsored ADR will post 6.14 earnings per share for the current fiscal year.
Hedge Funds Weigh In On BeOne Medicines
Large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE acquired a new stake in BeOne Medicines in the 2nd quarter worth about $67,657,000. Man Group plc acquired a new position in shares of BeOne Medicines during the 2nd quarter valued at about $59,031,000. Capital International Investors increased its stake in shares of BeOne Medicines by 3.3% during the 3rd quarter. Capital International Investors now owns 5,046,058 shares of the company's stock valued at $1,716,883,000 after acquiring an additional 161,052 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in shares of BeOne Medicines during the 2nd quarter worth about $38,337,000. Finally, First Trust Advisors LP lifted its holdings in shares of BeOne Medicines by 91.9% during the 1st quarter. First Trust Advisors LP now owns 241,426 shares of the company's stock worth $71,696,000 after acquiring an additional 115,601 shares during the period. 48.55% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
ONC has been the subject of a number of analyst reports. Wells Fargo & Company assumed coverage on BeOne Medicines in a report on Monday, May 4th. They issued an "overweight" rating and a $400.00 price target for the company. Jefferies Financial Group cut BeOne Medicines from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $420.00 to $290.00 in a research report on Monday, March 16th. Barclays boosted their target price on shares of BeOne Medicines from $405.00 to $409.00 and gave the company an "overweight" rating in a research note on Thursday, May 7th. 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. Finally, Guggenheim lifted their price target on shares of BeOne Medicines from $410.00 to $420.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, BeOne Medicines presently has an average rating of "Moderate Buy" and an average target price of $390.00.
Check Out Our Latest Analysis on BeOne Medicines
BeOne Medicines Company Profile
(
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.
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