BeOne Medicines (NASDAQ:ONC) Insider Xiaodong Wang Sells 38,287 Shares of Stock

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) insider Xiaodong Wang sold 38,287 shares of BeOne Medicines stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $349.10, for a total value of $13,365,991.70. Following the completion of the sale, the insider owned 6,079 shares of the company’s stock, valued at approximately $2,122,178.90. The trade was a 86.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

BeOne Medicines Trading Down 2.6%

NASDAQ:ONC traded down $9.20 on Thursday, hitting $341.80. 902,858 shares of the stock were exchanged, compared to its average volume of 299,110. 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 52 week low of $253.95 and a 52 week high of $385.22. The stock has a market capitalization of $37.53 billion, a price-to-earnings ratio of 60.18 and a beta of 0.51. The company’s 50-day moving average price is $337.85 and its 200 day moving average price is $311.40.

BeOne Medicines (NASDAQ:ONC) last issued its earnings results 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 net margin of 10.70% and a return on equity of 14.23%. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.66 billion. On average, equities research analysts forecast that BeOne Medicines Ltd. – Sponsored ADR will post 8.81 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ONC. 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. Wall Street Zen raised shares of BeOne Medicines from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 18th. Citigroup reaffirmed an “outperform” rating on shares of BeOne Medicines in a research report on Thursday, August 6th. Leerink Partners upped their target price on shares of BeOne Medicines from $364.00 to $367.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. Finally, Guggenheim raised their price objective on BeOne Medicines from $420.00 to $430.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Three investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $402.71.

Institutional Investors Weigh In On BeOne Medicines

Hedge funds and other institutional investors have recently made changes to their positions in the stock. EFG International AG acquired a new position in shares of BeOne Medicines during the fourth quarter worth $25,000. Leonteq Securities AG bought a new position in BeOne Medicines during the 4th quarter worth $35,000. Daiwa Securities Group Inc. acquired a new position in BeOne Medicines during the 2nd quarter worth about $35,000. Group One Trading LLC bought a new stake in shares of BeOne Medicines in the 4th quarter valued at about $61,000. Finally, EverSource Wealth Advisors LLC bought a new stake in shares of BeOne Medicines in the 2nd quarter valued at about $68,000. 48.55% of the stock is owned by institutional investors.

BeOne Medicines Company Profile

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.