BeOne Medicines (NASDAQ:ONC) SVP Sells $446,914.30 in Stock

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) SVP Chan Lee sold 1,115 shares of the stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $400.82, for a total value of $446,914.30. Following the sale, the senior vice president owned 455 shares of the company’s stock, valued at $182,373.10. This represents a 71.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Chan Henry Lee also recently made the following trade(s):

• On Wednesday, September 30th, Chan Lee sold 1,115 shares of BeOne Medicines stock. The shares were sold at an average price of $375.00, for a total transaction of $418,125.00.
• On Tuesday, August 11th, Chan Lee sold 2,666 shares of BeOne Medicines stock. The shares were sold at an average price of $360.00, for a total value of $959,760.00.

BeOne Medicines Stock Down 0.9%

NASDAQ ONC opened at $419.98 on Thursday. The company has a market capitalization of $46.11 billion, a P/E ratio of 53.36 and a beta of 0.63. The stock has a 50 day moving average price of $367.02 and a 200-day moving average price of $327.55. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.19 and a current ratio of 3.55. BeOne Medicines Ltd. – Sponsored ADR has a one year low of $253.95 and a one year high of $424.73.

BeOne Medicines (NASDAQ:ONC) last issued its quarterly earnings data on Thursday, November 5th. The company reported $3.64 EPS for the quarter, topping analysts’ consensus estimates of $2.34 by $1.30. The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.76 billion. BeOne Medicines had a net margin of 13.86% and a return on equity of 19.04%. As a group, equities analysts predict that BeOne Medicines Ltd. – Sponsored ADR will post 8.99 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ONC shares. Barclays increased their target price on shares of BeOne Medicines from $415.00 to $446.00 and gave the company an “overweight” rating in a research note on Friday, November 6th. TD Cowen increased their target price on BeOne Medicines from $424.00 to $454.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Weiss Ratings upgraded shares of BeOne Medicines from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Zacks Research downgraded shares of BeOne Medicines from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $425.00 target price on shares of BeOne Medicines in a research report on Friday, October 16th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $436.92.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. OneAscent Family Office LLC purchased a new position in shares of BeOne Medicines in the 3rd quarter valued at approximately $244,000. Voya Investment Management LLC purchased a new stake in BeOne Medicines in the third quarter valued at approximately $1,705,000. Global Retirement Partners LLC raised its position in BeOne Medicines by 92.2% during the 3rd quarter. Global Retirement Partners LLC now owns 663 shares of the company’s stock worth $243,000 after buying an additional 318 shares during the last quarter. HighTower Advisors LLC lifted its stake in BeOne Medicines by 286.8% during the 3rd quarter. HighTower Advisors LLC now owns 3,508 shares of the company’s stock valued at $1,284,000 after acquiring an additional 2,601 shares during the period. Finally, Morse Asset Management Inc boosted its holdings in shares of BeOne Medicines by 5.4% in the 3rd quarter. Morse Asset Management Inc now owns 1,452 shares of the company’s stock valued at $531,000 after acquiring an additional 74 shares during the last quarter. 48.55% of the stock is owned by institutional investors and hedge funds.

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.