Key Points
- Insider Xiaodong Wang sold 31,027 BeOne Medicines shares for approximately $10.89 million at an average price of $350.99, cutting his direct position by 50%. The sale was made under a pre-arranged Rule 10b5-1 trading plan and follows two additional sales in September.
- BeOne Medicines reported quarterly earnings of $2.05 per share, exceeding estimates of $1.40, while revenue reached $1.71 billion versus expectations of $1.66 billion.
- Analysts maintain a consensus “Buy” rating with an average price target of $404.93, while institutional investors own 48.55% of the company’s stock.
BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Get Free Report) insider Xiaodong Wang sold 31,027 shares of the business's stock in a transaction dated Tuesday, October 13th. The stock was sold at an average price of $350.99, for a total value of $10,890,166.73. Following the transaction, the insider directly owned 31,027 shares of the company's stock, valued at $10,890,166.73. This represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Xiaodong Wang also recently made the following trade(s):
- On Monday, September 28th, Xiaodong Wang sold 31,028 shares of BeOne Medicines stock. The shares were sold at an average price of $364.79, for a total value of $11,318,704.12.
- 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 value of $13,365,991.70.
BeOne Medicines Stock Performance
ONC opened at $374.08 on Friday. The firm has a market capitalization of $41.07 billion, a P/E ratio of 61.88 and a beta of 0.61. The stock's 50 day moving average price is $360.00 and its two-hundred day moving average price is $321.32. The company has a quick ratio of 3.06, a current ratio of 3.40 and a debt-to-equity ratio of 0.17. BeOne Medicines Ltd. - Sponsored ADR has a 12-month low of $253.95 and a 12-month high of $385.22.
BeOne Medicines (NASDAQ:ONC - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $2.05 EPS for the quarter, topping the consensus estimate of $1.40 by $0.65. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.66 billion. BeOne Medicines had a return on equity of 14.23% and a net margin of 10.70%. On average, equities analysts forecast that BeOne Medicines Ltd. - Sponsored ADR will post 8.99 earnings per share for the current year.
Institutional Trading of BeOne Medicines
Institutional investors have recently bought and sold shares of the stock. First Trust Advisors LP boosted its stake in BeOne Medicines by 91.9% in the 1st quarter. First Trust Advisors LP now owns 241,426 shares of the company's stock valued at $71,696,000 after buying an additional 115,601 shares in the last quarter. Jennison Associates LLC raised its stake in BeOne Medicines by 102.1% during the first quarter. Jennison Associates LLC now owns 154,465 shares of the company's stock worth $45,871,000 after acquiring an additional 78,027 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of BeOne Medicines during the first quarter valued at $19,438,000. Candriam S.C.A. lifted its holdings in shares of BeOne Medicines by 31.7% during the first quarter. Candriam S.C.A. now owns 259,731 shares of the company's stock valued at $77,132,000 after acquiring an additional 62,470 shares during the period. Finally, SEB Asset Management AB bought a new position in shares of BeOne Medicines during the first quarter valued at $16,653,000. Institutional investors and hedge funds own 48.55% of the company's stock.
Analysts Set New Price Targets
Several equities analysts recently commented on ONC shares. Wall Street Zen upgraded shares of BeOne Medicines from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 18th. Nomura raised shares of BeOne Medicines to a "strong-buy" rating in a report on Monday, July 27th. Barclays raised their price target on shares of BeOne Medicines from $407.00 to $415.00 and gave the stock an "overweight" rating in a research report on Thursday, September 10th. Wolfe Research restated an "outperform" rating and issued a $370.00 price target on shares of BeOne Medicines in a research report on Monday, August 10th. Finally, Royal Bank Of Canada boosted their price objective on BeOne Medicines from $450.00 to $459.00 and gave the company an "outperform" rating in a research report on Thursday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $404.93.
Check Out Our Latest Research Report on ONC
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.
Further Reading
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