Insider Selling: BeOne Medicines (NASDAQ:ONC) Director Sells $65,616.12 in Stock

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) Director Alessandro Riva sold 212 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $309.51, for a total transaction of $65,616.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

BeOne Medicines Stock Down 0.9%

Shares of BeOne Medicines stock opened at $287.92 on Friday. 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 Ltd. – Sponsored ADR has a 1 year low of $239.25 and a 1 year high of $385.22. The firm’s 50-day moving average is $302.03 and its two-hundred day moving average is $320.68. The stock has a market cap of $31.59 billion, a price-to-earnings ratio of 64.41 and a beta of 0.50.

BeOne Medicines (NASDAQ:ONC) last issued its earnings results 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 company had revenue of $1.51 billion for the quarter. As a group, research analysts expect that BeOne Medicines Ltd. – Sponsored ADR will post 5.65 earnings per share for the current fiscal year.

Institutional Trading of BeOne Medicines

A number of institutional investors have recently modified their holdings of ONC. Bank of America Corp DE bought a new stake in shares of BeOne Medicines in the 2nd quarter valued at about $67,657,000. Man Group plc bought a new stake in shares of BeOne Medicines in the 2nd quarter valued at about $59,031,000. Capital International Investors boosted its holdings in shares of BeOne Medicines by 3.3% in the 3rd quarter. Capital International Investors now owns 5,046,058 shares of the company’s stock valued at $1,716,883,000 after buying an additional 161,052 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in shares of BeOne Medicines in the 2nd quarter valued at about $38,337,000. Finally, First Trust Advisors LP boosted its holdings in shares of BeOne Medicines by 91.9% in the 1st quarter. First Trust Advisors LP now owns 241,426 shares of the company’s stock valued at $71,696,000 after buying an additional 115,601 shares in the last quarter. 48.55% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ONC. Weiss Ratings reiterated a “sell (d-)” rating on shares of BeOne Medicines in a report on Monday, April 20th. Jefferies Financial Group cut shares of BeOne Medicines from a “buy” rating to a “hold” rating and dropped their target price for the stock from $420.00 to $290.00 in a report on Monday, March 16th. Wall Street Zen upgraded shares of BeOne Medicines from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Royal Bank Of Canada increased their target price on shares of BeOne Medicines from $423.00 to $425.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. Finally, Wolfe Research began coverage on shares of BeOne Medicines in a report on Friday, March 27th. They set an “outperform” rating and a $340.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $389.15.

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.