Lai Wang Sells 1,367 Shares of BeOne Medicines (NASDAQ:ONC) Stock

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) insider Lai Wang sold 1,367 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $269.38, for a total value of $368,242.46. Following the transaction, the insider owned 40 shares in the company, valued at approximately $10,775.20. This represents a 97.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

BeOne Medicines Trading Down 1.3%

Shares of BeOne Medicines stock opened at $260.27 on Friday. The stock has a market cap of $28.56 billion, a P/E ratio of 58.23 and a beta of 0.49. The stock’s 50 day simple moving average is $300.30 and its 200-day simple moving average is $314.98. BeOne Medicines Ltd. – Sponsored ADR has a 1-year low of $239.25 and a 1-year high of $385.22. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.64 and a quick ratio of 3.27.

BeOne Medicines (NASDAQ:ONC) last issued its earnings results on Wednesday, April 1st. The company reported $0.25 earnings per share for the quarter. The business had revenue of $1.51 billion for the quarter. BeOne Medicines had a return on equity of 12.06% and a net margin of 8.94%. Analysts predict that BeOne Medicines Ltd. – Sponsored ADR will post 6.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ONC shares. Wells Fargo & Company started coverage on BeOne Medicines in a report on Monday, May 4th. They issued an “overweight” rating and a $400.00 price objective on the stock. Barclays upped their price objective on BeOne Medicines from $405.00 to $409.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Royal Bank Of Canada upped their price objective on BeOne Medicines from $425.00 to $436.00 and gave the company an “outperform” rating in a report on Tuesday, June 2nd. Wall Street Zen upgraded BeOne Medicines from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Finally, Zacks Research upgraded BeOne Medicines from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 4th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, BeOne Medicines has an average rating of “Moderate Buy” and an average price target of $390.00.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ONC. Cetera Investment Advisers acquired a new position in BeOne Medicines in the second quarter valued at approximately $455,000. Rhumbline Advisers purchased a new stake in BeOne Medicines in the second quarter valued at approximately $275,000. Arrowstreet Capital Limited Partnership purchased a new stake in BeOne Medicines in the second quarter valued at approximately $505,000. Invesco Ltd. purchased a new stake in BeOne Medicines in the second quarter valued at approximately $422,000. Finally, EverSource Wealth Advisors LLC purchased a new stake in BeOne Medicines in the second quarter valued at approximately $68,000. 48.55% of the stock is currently owned by institutional investors and hedge funds.

BeOne Medicines Company Profile

BeOne Medicines Ltd. is a global oncology company domiciled in Switzerland that is discovering and developing innovative treatments that are more affordable and accessible to cancer patients worldwide. The firm portfolio spanning hematology and solid tumors, BeOne is expediting development of its diverse pipeline of novel therapeutics through its internal capabilities and collaborations. The company was founded by Xiao Dong Wang and John V. Oyler on October 28, 2010 and is headquartered in Basel, Switzerland.