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

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

BeOne Medicines Price Performance

NASDAQ ONC traded down $9.20 during trading on Thursday, reaching $341.80. 902,858 shares of the company traded hands, compared to its average volume of 299,110. BeOne Medicines Ltd. – Sponsored ADR has a 1-year low of $253.95 and a 1-year high of $385.22. The company has a market cap of $37.53 billion, a price-to-earnings ratio of 60.18 and a beta of 0.51. The stock’s 50 day moving average price is $337.85 and its two-hundred day moving average price is $311.40. 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 (NASDAQ:ONC) last issued its earnings results on Wednesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.65. BeOne Medicines had a return on equity of 14.23% and a net margin of 10.70%.The business had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.66 billion. As a group, analysts anticipate that BeOne Medicines Ltd. – Sponsored ADR will post 8.81 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. TD Cowen lifted their target price 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. Wall Street Zen raised BeOne Medicines from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 18th. Truist Financial increased their target price on BeOne Medicines from $416.00 to $418.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Royal Bank Of Canada lowered 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. Finally, Morgan Stanley restated an “overweight” rating on shares of BeOne Medicines in a research note on Thursday, August 6th. Three equities research 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 given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $402.71.

Institutional Trading of BeOne Medicines

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mariner LLC lifted its holdings in BeOne Medicines by 3.8% during the 4th quarter. Mariner LLC now owns 883 shares of the company’s stock worth $269,000 after buying an additional 32 shares in the last quarter. Steadtrust LLC boosted its position in BeOne Medicines by 3.7% in the 2nd quarter. Steadtrust LLC now owns 1,400 shares of the company’s stock valued at $399,000 after buying an additional 50 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of BeOne Medicines by 16.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 369 shares of the company’s stock valued at $110,000 after buying an additional 52 shares during the period. Sequoia Financial Advisors LLC increased its stake in shares of BeOne Medicines by 4.2% in the 1st quarter. Sequoia Financial Advisors LLC now owns 1,628 shares of the company’s stock valued at $483,000 after buying an additional 65 shares during the period. Finally, Parallel Advisors LLC increased its stake in shares of BeOne Medicines by 24.0% in the 1st quarter. Parallel Advisors LLC now owns 351 shares of the company’s stock valued at $104,000 after buying an additional 68 shares during the period. Institutional investors and hedge funds own 48.55% of the company’s stock.

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.