BeOne Medicines (NASDAQ:ONC) Insider Sells 1,559 Shares of Company Stock

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) insider Titus Ball sold 1,559 shares of the firm’s stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $405.57, for a total value of $632,283.63. Following the completion of the sale, the insider directly owned 880 shares of the company’s stock, valued at approximately $356,901.60. The trade was a 63.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

BeOne Medicines Stock Performance

Shares of NASDAQ ONC traded up $6.67 during midday trading on Tuesday, hitting $424.00. 599,340 shares of the company’s stock were exchanged, compared to its average volume of 322,789. The company has a quick ratio of 3.06, a current ratio of 3.40 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $46.55 billion, a PE ratio of 53.88 and a beta of 0.63. BeOne Medicines Ltd. – Sponsored ADR has a 12 month low of $253.95 and a 12 month high of $424.73. The company’s 50 day moving average price is $364.50 and its 200 day moving average price is $326.72.

BeOne Medicines (NASDAQ:ONC) last posted its quarterly earnings results on Thursday, November 5th. The company reported $3.64 earnings per share for the quarter, beating analysts’ consensus estimates of $2.34 by $1.30. BeOne Medicines had a return on equity of 14.23% and a net margin of 10.70%. The business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.76 billion. As a group, analysts predict that BeOne Medicines Ltd. – Sponsored ADR will post 8.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ONC. Weiss Ratings upgraded shares of BeOne Medicines from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Barclays lifted their target price on BeOne Medicines from $415.00 to $446.00 and gave the stock an “overweight” rating in a report on Friday. Citigroup reissued an “outperform” rating on shares of BeOne Medicines in a research report on Thursday, August 6th. TD Cowen upped their price target 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. Finally, Zacks Research lowered shares of BeOne Medicines from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, BeOne Medicines currently has a consensus rating of “Buy” and a consensus target price of $436.92.

Institutional Investors Weigh In On BeOne Medicines

Several institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE grew its position in BeOne Medicines by 7.0% during the first quarter. Bank of America Corp DE now owns 405,273 shares of the company’s stock worth $120,354,000 after buying an additional 26,441 shares in the last quarter. Baird Financial Group Inc. raised its holdings in BeOne Medicines by 5.5% in the 2nd quarter. Baird Financial Group Inc. now owns 368,978 shares of the company’s stock valued at $105,148,000 after acquiring an additional 19,327 shares in the last quarter. First Trust Advisors LP raised its holdings in 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 acquiring an additional 115,601 shares in the last quarter. Jennison Associates LLC raised its holdings in BeOne Medicines by 102.1% in the 1st quarter. Jennison Associates LLC now owns 154,465 shares of the company’s stock valued at $45,871,000 after acquiring an additional 78,027 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of BeOne Medicines by 96.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 110,586 shares of the company’s stock valued at $32,841,000 after acquiring an additional 54,260 shares during the period. 48.55% of the stock is currently owned by institutional investors.

BeOne Medicines Company Profile

BeOne Medicines, formerly known as BeiGene, is a global biotechnology company focused on discovering, developing, manufacturing and commercializing cancer medicines. Founded in Beijing in 2010, the company has expanded its research and commercial operations across multiple regions, including the United States, Europe and Asia. Its marketed products include Brukinsa (zanubrutinib), a targeted therapy for certain blood cancers, and Tevimbra (tislelizumab), an immunotherapy used to treat several types of cancer.