Insider Selling: BeOne Medicines (NASDAQ:ONC) Insider Sells $11,318,704.12 in Stock

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) insider Xiaodong Wang sold 31,028 shares of the firm’s stock in a transaction on Monday, September 28th. The stock was sold at an average price of $364.79, for a total value 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 $11,318,704.12. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 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 Stock Down 0.2%

Shares of NASDAQ ONC opened at $358.07 on Friday. The company has a current ratio of 3.40, a quick ratio of 3.06 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. The firm has a market capitalization of $39.31 billion, a PE ratio of 63.04 and a beta of 0.61. The firm has a fifty day simple moving average of $353.95 and a two-hundred day simple moving average of $316.23.

BeOne Medicines (NASDAQ:ONC) last posted its 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. BeOne Medicines had a net margin of 10.70% and a return on equity of 14.23%. The firm had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Equities analysts expect that BeOne Medicines Ltd. – Sponsored ADR will post 8.81 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ONC shares. Barclays lifted their target price on shares of BeOne Medicines from $407.00 to $415.00 and gave the company an “overweight” rating in a research note on Thursday, September 10th. Citizens Jmp raised their price objective on BeOne Medicines from $396.00 to $405.00 and gave the company a “market outperform” rating in a research report on Thursday, August 6th. Royal Bank Of Canada reduced their target price on BeOne Medicines from $451.00 to $450.00 and set an “outperform” rating for the company in a research note on Thursday, August 6th. Wall Street Zen raised BeOne Medicines from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 18th. Finally, TD Cowen increased their price target on shares of BeOne Medicines from $424.00 to $454.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Three research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $404.14.

BeOne Medicines News Roundup

Here are the key news stories impacting BeOne Medicines this week:

• Positive Sentiment: JPMorgan raised its price target on BeOne Medicines to $445 from $425 and maintained an “overweight” rating, implying substantial upside from recent levels. This reinforces the broader Wall Street consensus, which remains “Buy.” JPMorgan raises BeOne Medicines price target
• Positive Sentiment: Investor’s Business Daily said BeOne shares are approaching potential buy points, highlighting continued momentum in BRUKINSA, the company’s blockbuster cancer drug, which generated $1.2 billion in second-quarter sales. BeOne Medicines poised to hit early buy points
• Neutral Sentiment: BeOne’s latest quarterly results exceeded expectations, with earnings of $2.05 per share versus a $1.40 consensus estimate and revenue of $1.71 billion versus $1.66 billion. Analysts expect approximately $8.81 in full-year earnings per share, although the stock’s valuation remains elevated at more than 60 times earnings.
• Negative Sentiment: Insider Xiaodong Wang sold 31,028 shares for approximately $11.3 million, reducing his direct ownership by 50%. Separately, Senior Vice President Chan Lee sold 1,115 shares for about $418,000. Both transactions were executed under pre-arranged Rule 10b5-1 plans, which lessens—but does not eliminate—their significance as a sentiment signal. BeOne Medicines insider sales

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Capital International Investors lifted its holdings in shares of BeOne Medicines by 1.3% in the 4th quarter. Capital International Investors now owns 5,113,866 shares of the company’s stock valued at $1,553,909,000 after buying an additional 67,808 shares during the period. Bank of America Corp DE boosted its position in BeOne Medicines by 7.0% during the first quarter. Bank of America Corp DE now owns 405,273 shares of the company’s stock worth $120,354,000 after purchasing an additional 26,441 shares in the last quarter. Baird Financial Group Inc. raised its position 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 acquiring an additional 19,327 shares during the last quarter. Candriam S.C.A. lifted its stake in BeOne Medicines by 31.7% in the 1st quarter. Candriam S.C.A. now owns 259,731 shares of the company’s stock valued at $77,132,000 after buying an additional 62,470 shares in the last quarter. Finally, First Trust Advisors LP increased its position in 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 buying an additional 115,601 shares in the last quarter. 48.55% of the stock is owned by hedge funds and other institutional investors.

BeOne Medicines Company Profile

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.