Key Points
- Insider sale: BeOne Medicines insider Titus Ball sold 132 shares for approximately $46,974 at an average price of $355.86. The sale covered tax-withholding obligations tied to vested equity awards.
- Strong quarterly results: The company reported $2.05 in quarterly EPS, beating estimates by $0.65, while revenue of $1.71 billion exceeded forecasts of $1.66 billion.
- Analyst sentiment remains positive: BeOne Medicines has a consensus “Buy” rating and an average price target of $402.14, compared with a recent opening price of $362.68; institutional investors own 48.55% of the stock.
BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Get Free Report) insider Titus Ball sold 132 shares of the firm's stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $355.86, for a total transaction of $46,973.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
BeOne Medicines Price Performance
ONC stock opened at $362.68 on Friday. The stock has a market cap of $39.82 billion, a price-to-earnings ratio of 63.85 and a beta of 0.51. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.40 and a quick ratio of 3.06. The company has a 50 day simple moving average of $332.38 and a 200 day simple moving average of $311.36. BeOne Medicines Ltd. - Sponsored ADR has a 1 year low of $253.95 and a 1 year high of $385.22.
BeOne Medicines (NASDAQ:ONC - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $2.05 earnings per share for the quarter, beating analysts' consensus estimates of $1.40 by $0.65. The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.66 billion. BeOne Medicines had a net margin of 10.70% and a return on equity of 14.23%. Research analysts anticipate that BeOne Medicines Ltd. - Sponsored ADR will post 8.81 EPS for the current fiscal year.
Institutional Trading of BeOne Medicines
Institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE acquired a new stake in BeOne Medicines during the 2nd quarter valued at approximately $67,657,000. Man Group plc acquired a new position in shares of BeOne Medicines in the 2nd quarter worth approximately $59,031,000. BNP Paribas Financial Markets acquired a new position in shares of BeOne Medicines in the 2nd quarter worth approximately $38,337,000. First Trust Advisors LP lifted its position in shares of BeOne Medicines by 91.9% in the 1st quarter. First Trust Advisors LP now owns 241,426 shares of the company's stock worth $71,696,000 after purchasing an additional 115,601 shares during the period. Finally, Qube Research & Technologies Ltd bought a new stake in shares of BeOne Medicines in the 2nd quarter valued at $26,034,000. 48.55% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
ONC has been the subject of several research reports. Guggenheim increased their target price on BeOne Medicines from $420.00 to $430.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Weiss Ratings reissued a "sell (d-)" rating on shares of BeOne Medicines in a research note on Friday, July 17th. Nomura upgraded BeOne Medicines to a "strong-buy" rating in a report on Monday, July 27th. Leerink Partners upped their price objective on BeOne Medicines from $364.00 to $367.00 and gave the company an "outperform" rating in a research note on Friday, May 15th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of BeOne Medicines in a report on Thursday, August 6th. Three research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $402.14.
Check Out Our Latest Research Report on ONC
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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
