Key Points
- Insider sale: Xiaodong Wang sold 31,028 BeOne Medicines shares for approximately $11.26 million under a pre-arranged Rule 10b5-1 trading plan, reducing the insider’s position by 50%. Wang has made several other multimillion-dollar sales since September.
- Business performance: BeOne Medicines reported quarterly EPS of $2.05, exceeding estimates of $1.40, while revenue of $1.71 billion also topped expectations. Analysts project full-year EPS of $8.99.
- Analyst outlook: Wall Street maintains a “Moderate Buy” consensus, with 15 analysts issuing Buy or Strong Buy ratings and an average price target of $412.26, above the reported share price of $371.56.
BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Get Free Report) insider Xiaodong Wang sold 31,028 shares of the firm's stock in a transaction on Tuesday, October 27th. The shares were sold at an average price of $362.97, for a total value of $11,262,233.16. Following the transaction, the insider directly owned 31,028 shares of the company's stock, valued at $11,262,233.16. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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, October 13th, Xiaodong Wang sold 31,027 shares of BeOne Medicines stock. The shares were sold at an average price of $350.99, for a total transaction of $10,890,166.73.
- On Monday, September 28th, Xiaodong Wang sold 31,028 shares of BeOne Medicines stock. The stock was sold at an average price of $364.79, for a total transaction of $11,318,704.12.
- On Tuesday, September 8th, Xiaodong Wang sold 38,287 shares of BeOne Medicines stock. The stock was sold at an average price of $349.10, for a total transaction of $13,365,991.70.
BeOne Medicines Stock Down 0.5%
Shares of BeOne Medicines stock opened at $371.56 on Friday. BeOne Medicines Ltd. - Sponsored ADR has a 1 year low of $253.95 and a 1 year high of $388.66. The firm has a market cap of $40.79 billion, a price-to-earnings ratio of 65.73 and a beta of 0.61. The company has a 50-day moving average of $363.12 and a 200 day moving average of $325.26. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.40 and a quick ratio of 3.06.
BeOne Medicines (NASDAQ:ONC - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $2.05 EPS for the quarter, topping the consensus estimate of $1.40 by $0.65. BeOne Medicines had a net margin of 10.70% and a return on equity of 14.23%. The business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.66 billion. As a group, sell-side analysts anticipate that BeOne Medicines Ltd. - Sponsored ADR will post 8.99 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in 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. Morgan Stanley reiterated an "overweight" rating and set a $425.00 price objective on shares of BeOne Medicines in a research report on Friday, October 16th. Truist Financial upped their target price on shares of BeOne Medicines from $418.00 to $420.00 and gave the company a "buy" rating in a report on Wednesday, October 7th. Wolfe Research reaffirmed an "outperform" rating and issued a $370.00 price objective on shares of BeOne Medicines in a research note on Monday, August 10th. Finally, Guggenheim raised their price objective on shares of BeOne Medicines from $420.00 to $430.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, BeOne Medicines presently has a consensus rating of "Moderate Buy" and a consensus target price of $412.26.
View Our Latest Research Report on ONC
Institutional Trading of BeOne Medicines
Institutional investors and hedge funds have recently made changes to their positions in the business. Sanders Morris Harris LLC bought a new stake in shares of BeOne Medicines during the third quarter valued at approximately $1,134,000. Renaissance Technologies LLC bought a new stake in BeOne Medicines during the first quarter valued at about $19,438,000. Rokos Capital Management LLP bought a new position in shares of BeOne Medicines during the 1st quarter worth approximately $4,256,000. SEB Asset Management AB acquired a new position in shares of BeOne Medicines during the first quarter worth $16,653,000. Finally, Generali Investments Management Co LLC acquired a new position in BeOne Medicines during the 2nd quarter valued at about $2,280,000. 48.55% of the stock is currently owned by institutional investors.
About BeOne Medicines
(
Get Free Report)
BeOne Medicines Ltd. is a global oncology company focused on discovering, developing, manufacturing and commercializing medicines for cancer patients. Formerly known as BeiGene, the company operates an integrated biotechnology platform spanning research, clinical development, regulatory activities and commercial operations.
Its portfolio includes BRUKINSA (zanubrutinib), a Bruton's tyrosine kinase inhibitor used in the treatment of several blood cancers, and TEVIMBRA (tislelizumab), an anti-PD-1 immunotherapy approved in multiple markets for certain cancers.
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