BeOne Medicines (NASDAQ:ONC) Insider Sells $310,240.91 in Stock

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) insider Lai Wang sold 1,169 shares of the company’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $265.39, for a total value of $310,240.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Lai Wang also recently made the following trade(s):

• On Thursday, June 11th, Lai Wang sold 756 shares of BeOne Medicines stock. The stock was sold at an average price of $261.00, for a total value of $197,316.00.
• On Monday, June 8th, Lai Wang sold 1,367 shares of BeOne Medicines stock. The shares were sold at an average price of $269.38, for a total transaction of $368,242.46.

BeOne Medicines Price Performance

NASDAQ ONC traded up $7.47 on Thursday, hitting $270.15. The company had a trading volume of 367,884 shares, compared to its average volume of 260,552. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.64 and a quick ratio of 3.27. The company’s fifty day moving average price is $296.83 and its 200-day moving average price is $312.94. The company has a market capitalization of $29.64 billion, a PE ratio of 60.44 and a beta of 0.49. BeOne Medicines Ltd. – Sponsored ADR has a 12-month low of $239.25 and a 12-month high of $385.22.

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

Hedge Funds Weigh In On BeOne Medicines

A number of hedge funds have recently modified their holdings of the business. Cetera Investment Advisers acquired a new stake in shares of BeOne Medicines during the 2nd quarter worth about $455,000. Rhumbline Advisers acquired a new position in BeOne Medicines in the second quarter valued at about $275,000. Arrowstreet Capital Limited Partnership purchased a new position in BeOne Medicines during the second quarter worth about $505,000. Invesco Ltd. purchased a new position in BeOne Medicines during the second quarter worth about $422,000. Finally, EverSource Wealth Advisors LLC acquired a new stake in shares of BeOne Medicines during the second quarter valued at about $68,000. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on ONC. Leerink Partners raised their target price on BeOne Medicines from $364.00 to $367.00 and gave the company an “outperform” rating in a research report on Friday, May 15th. Wells Fargo & Company initiated coverage on BeOne Medicines in a research report on Monday, May 4th. They set an “overweight” rating and a $400.00 price target for the company. Zacks Research raised BeOne Medicines from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 4th. Guggenheim raised their price objective on BeOne Medicines from $410.00 to $420.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Finally, Wolfe Research assumed coverage on shares of BeOne Medicines in a research note on Friday, March 27th. They set an “outperform” rating and a $340.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $390.00.

About BeOne Medicines

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.