BeOne Medicines (NASDAQ:ONC) Announces Earnings Results

BeOne Medicines (NASDAQ:ONC) posted its quarterly earnings results on Thursday. The company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.60 by ($1.02), Zacks reports. BeOne Medicines had a net margin of 1.38% and a return on equity of 5.52%.

BeOne Medicines Price Performance

NASDAQ ONC traded down $31.99 during trading on Thursday, hitting $320.24. 538,536 shares of the company’s stock were exchanged, compared to its average volume of 278,816. The company has a market cap of $35.12 billion, a PE ratio of 627.92 and a beta of 0.52. BeOne Medicines has a fifty-two week low of $196.45 and a fifty-two week high of $385.22. The company has a current ratio of 2.39, a quick ratio of 2.17 and a debt-to-equity ratio of 0.03. The stock’s 50 day moving average price is $336.49 and its two-hundred day moving average price is $330.27.

Wall Street Analysts Forecast Growth

ONC has been the topic of several research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of BeOne Medicines in a research report on Wednesday, January 21st. Citizens Jmp increased their target price on shares of BeOne Medicines from $348.00 to $396.00 and gave the stock a “market outperform” rating in a research report on Friday, November 7th. Truist Financial set a $400.00 price objective on BeOne Medicines in a report on Monday, November 24th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of BeOne Medicines in a research report on Wednesday, December 17th. Finally, Morgan Stanley reissued an “overweight” rating and set a $405.00 target price on shares of BeOne Medicines in a research report on Thursday, January 8th. Thirteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $381.46.

Insider Buying and Selling at BeOne Medicines

In other BeOne Medicines news, CEO John Oyler sold 75,631 shares of the stock in a transaction on Monday, December 15th. The stock was sold at an average price of $307.79, for a total transaction of $23,278,465.49. Following the completion of the transaction, the chief executive officer directly owned 24,369 shares of the company’s stock, valued at approximately $7,500,534.51. This represents a 75.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Chan Henry Lee sold 1,660 shares of the company’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $349.52, for a total value of $580,203.20. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 102,656 shares of company stock worth $31,567,496. 6.62% of the stock is owned by company insiders.

Institutional Investors Weigh In On BeOne Medicines

Several institutional investors and hedge funds have recently bought and sold shares of the business. Siren L.L.C. increased its stake in shares of BeOne Medicines by 1.4% in the 4th quarter. Siren L.L.C. now owns 500,000 shares of the company’s stock worth $151,905,000 after acquiring an additional 7,010 shares in the last quarter. Morgan Stanley lifted its stake in BeOne Medicines by 23.9% during the 4th quarter. Morgan Stanley now owns 437,661 shares of the company’s stock valued at $132,966,000 after acquiring an additional 84,367 shares during the period. Bank of America Corp DE grew its position in BeOne Medicines by 23.5% in the 3rd quarter. Bank of America Corp DE now owns 345,256 shares of the company’s stock worth $117,629,000 after purchasing an additional 65,763 shares during the period. Man Group plc boosted its position in BeOne Medicines by 18.9% in the fourth quarter. Man Group plc now owns 248,514 shares of the company’s stock worth $75,501,000 after purchasing an additional 39,498 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in BeOne Medicines during the second quarter valued at approximately $38,337,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.

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.