Key Points
- Insider sale: Xiaodong Wang sold 31,028 BeOne Medicines shares at an average of $364.79, generating approximately $11.32 million. The Rule 10b5-1 transaction reduced Wang’s direct stake by 50%, and follows a sale of 38,287 shares earlier in September.
- Strong financial performance: BeOne reported quarterly EPS of $2.05, exceeding the $1.40 consensus estimate, while revenue reached $1.71 billion versus expectations of $1.66 billion.
- Positive analyst outlook: Analysts maintain a consensus “Buy” rating with an average price target of $402.71, above the stock’s reported opening price of $365.94. Institutional investors and hedge funds own approximately 48.55% of the company.
BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Get Free Report) insider Xiaodong Wang sold 31,028 shares of the stock in a transaction that occurred on Monday, September 28th. The shares were sold at an average price of $364.79, for a total transaction of $11,318,704.12. Following the completion of the sale, the insider directly owned 31,028 shares of the company's stock, valued at approximately $11,318,704.12. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Xiaodong Wang also recently made the following trade(s):
- On Tuesday, September 8th, Xiaodong Wang sold 38,287 shares of BeOne Medicines stock. The shares were sold at an average price of $349.10, for a total transaction of $13,365,991.70.
BeOne Medicines Trading Up 0.2%
ONC opened at $365.94 on Thursday. BeOne Medicines Ltd. - Sponsored ADR has a one year low of $253.95 and a one year high of $385.22. The stock has a market capitalization of $40.18 billion, a PE ratio of 64.43 and a beta of 0.51. The business's 50 day moving average price is $352.67 and its 200 day moving average price is $315.41. 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 (NASDAQ:ONC - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.71 billion during the quarter, compared to analysts' expectations of $1.66 billion. As a group, equities research analysts expect that BeOne Medicines Ltd. - Sponsored ADR will post 8.81 EPS for the current year.
Analyst Ratings Changes
A number of analysts recently issued reports on ONC shares. Guggenheim raised their price objective on BeOne Medicines from $420.00 to $430.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Truist Financial increased their target price on shares of BeOne Medicines from $416.00 to $418.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Morgan Stanley reiterated an "overweight" rating on shares of BeOne Medicines in a research report on Thursday, August 6th. Citigroup reissued an "outperform" rating on shares of BeOne Medicines in a research note on Thursday, August 6th. Finally, Zacks Research upgraded shares of BeOne Medicines from a "hold" rating to a "strong-buy" rating in a report on Friday, August 7th. Three investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $402.71.
View Our Latest Report on ONC
Hedge Funds Weigh In On BeOne Medicines
Several hedge funds have recently bought and sold shares of the company. Capital International Investors boosted its holdings in BeOne Medicines by 1.3% during the 4th quarter. Capital International Investors now owns 5,113,866 shares of the company's stock valued at $1,553,909,000 after acquiring an additional 67,808 shares during the period. Bank of America Corp DE grew its position in BeOne Medicines by 7.0% in the 1st quarter. Bank of America Corp DE now owns 405,273 shares of the company's stock valued at $120,354,000 after acquiring an additional 26,441 shares in the last quarter. Baird Financial Group Inc. increased its stake in BeOne Medicines by 5.5% during the second quarter. Baird Financial Group Inc. now owns 368,978 shares of the company's stock worth $105,148,000 after purchasing an additional 19,327 shares during the period. Candriam S.C.A. increased its stake in BeOne Medicines by 31.7% during the first quarter. Candriam S.C.A. now owns 259,731 shares of the company's stock worth $77,132,000 after purchasing an additional 62,470 shares during the period. Finally, First Trust Advisors LP lifted its position in shares of BeOne Medicines by 91.9% during the first 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 in the last quarter. Institutional investors and hedge funds own 48.55% of the company's stock.
BeOne Medicines Company Profile
(
Get Free Report)
BeOne Medicines Ltd. (NASDAQ: ONC) is a global oncology company focused on discovering, developing, manufacturing and commercializing medicines for people with cancer. The company operates across the research and development, clinical testing, regulatory and commercial stages of the biopharmaceutical industry, with an emphasis on treatments for blood cancers and solid tumors.
Its marketed portfolio includes BRUKINSA (zanubrutinib), a Bruton's tyrosine kinase inhibitor used to treat several B-cell malignancies, and TEVIMBRA (tislelizumab), an immunotherapy targeting the PD-1 pathway for certain cancers.
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