Key Points
- BeOne Medicines insider Xiaodong Wang sold 38,287 shares at an average price of $349.10, generating proceeds of approximately $13.37 million. The Rule 10b5-1 transaction reduced Wang’s ownership by 86.3%, leaving 6,079 shares.
- BeOne reported quarterly EPS of $2.05, exceeding the $1.40 consensus estimate, while revenue of $1.71 billion also topped expectations. The stock opened at $341.80, with a market capitalization of approximately $37.53 billion.
- Analyst sentiment remains broadly positive, with a consensus “Buy” rating and an average price target of $402.71, compared with the reported share price. Institutional investors and hedge funds own 48.55% of the company.
BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Get Free Report) insider Xiaodong Wang sold 38,287 shares of the business's stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $349.10, for a total transaction of $13,365,991.70. Following the transaction, the insider owned 6,079 shares of the company's stock, valued at $2,122,178.90. This represents a 86.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
BeOne Medicines Price Performance
Shares of ONC opened at $341.80 on Friday. The business's 50-day moving average is $338.73 and its two-hundred day moving average is $311.25. The company has a market capitalization of $37.53 billion, a P/E ratio of 60.18 and a beta of 0.51. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.06 and a current ratio of 3.40. BeOne Medicines Ltd. - Sponsored ADR has a fifty-two week low of $253.95 and a fifty-two week high of $385.22.
BeOne Medicines (NASDAQ:ONC - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.65. BeOne Medicines had a return on equity of 14.23% and a net margin of 10.70%.The business had revenue of $1.71 billion during the quarter, compared to analysts' expectations of $1.66 billion. Research analysts predict that BeOne Medicines Ltd. - Sponsored ADR will post 8.81 earnings per share for the current year.
Hedge Funds Weigh In On BeOne Medicines
A number of large investors have recently bought and sold shares of the business. Renaissance Technologies LLC acquired a new stake in shares of BeOne Medicines in the first quarter worth approximately $19,438,000. BNP Paribas Financial Markets raised its stake in BeOne Medicines by 100.6% in the 4th quarter. BNP Paribas Financial Markets now owns 193,951 shares of the company's stock valued at $58,924,000 after purchasing an additional 97,244 shares during the last quarter. Rokos Capital Management LLP purchased a new position in BeOne Medicines in the 1st quarter valued at $4,256,000. Generali Investments Management Co LLC purchased a new position in BeOne Medicines in the 2nd quarter valued at $2,280,000. Finally, SEB Asset Management AB acquired a new stake in BeOne Medicines during the 1st quarter worth $16,653,000. Institutional investors and hedge funds own 48.55% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on the company. Guggenheim boosted their price target on BeOne Medicines from $420.00 to $430.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Citigroup reaffirmed an "outperform" rating on shares of BeOne Medicines in a research note on Thursday, August 6th. Zacks Research raised shares of BeOne Medicines from a "hold" rating to a "strong-buy" rating in a report on Friday, August 7th. Weiss Ratings reiterated a "sell (d-)" rating on shares of BeOne Medicines in a research note on Friday, July 17th. Finally, Leerink Partners increased their price target on shares of BeOne Medicines from $364.00 to $367.00 and gave the stock an "outperform" rating in a report on Friday, May 15th. Three analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $402.71.
Check Out Our Latest Report on ONC
About BeOne Medicines
(
Get Free Report)
BeOne Medicines Ltd. is a global biotechnology company focused on the discovery, development and commercialization of medicines for cancer and other serious diseases. The company works across research, clinical development, manufacturing and commercialization, with the goal of expanding access to innovative treatments in markets around the world.
BeOne's commercial portfolio includes BRUKINSA (zanubrutinib), a Bruton's tyrosine kinase inhibitor used to treat certain B-cell malignancies, and TEVIMBRA (tislelizumab), an immunotherapy approved in multiple markets for several cancer indications.
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