BeOne Medicines (NASDAQ:ONC) Insider Sells $295,558.32 in Stock

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) insider Lai Wang sold 1,068 shares of BeOne Medicines stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $276.74, for a total value of $295,558.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Lai Wang also recently made the following trade(s):

• On Tuesday, June 16th, Lai Wang sold 1,169 shares of BeOne Medicines stock. The shares were sold at an average price of $265.39, for a total transaction of $310,240.91.
• On Thursday, June 11th, Lai Wang sold 756 shares of BeOne Medicines stock. The stock was sold at an average price of $261.00, for a total transaction of $197,316.00.
• On Monday, June 8th, Lai Wang sold 1,367 shares of BeOne Medicines stock. The stock was sold at an average price of $269.38, for a total transaction of $368,242.46.

BeOne Medicines Price Performance

BeOne Medicines stock opened at $279.89 on Friday. BeOne Medicines Ltd. – Sponsored ADR has a 1 year low of $239.25 and a 1 year high of $385.22. The firm has a 50 day moving average price of $291.75 and a 200 day moving average price of $310.21. The company has a market cap of $30.71 billion, a price-to-earnings ratio of 62.62 and a beta of 0.49. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.27 and a current ratio of 3.64.

BeOne Medicines (NASDAQ:ONC) last issued its quarterly earnings results on Wednesday, April 1st. The company reported $0.25 EPS for the quarter. The firm had revenue of $1.51 billion during the quarter. BeOne Medicines had a net margin of 8.94% and a return on equity of 12.06%. Sell-side analysts predict that BeOne Medicines Ltd. – Sponsored ADR will post 6.14 earnings per share for the current year.

Hedge Funds Weigh In On BeOne Medicines

Hedge funds have recently made changes to their positions in the business. Bank of America Corp DE acquired a new position in shares of BeOne Medicines during the 2nd quarter valued at $67,657,000. Man Group plc purchased a new stake in BeOne Medicines during the 2nd quarter worth $59,031,000. Capital International Investors increased its holdings in 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 purchasing an additional 161,052 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in BeOne Medicines in the 2nd quarter valued at $38,337,000. Finally, First Trust Advisors LP raised its position in BeOne Medicines by 91.9% in the first quarter. First Trust Advisors LP now owns 241,426 shares of the company’s stock valued at $71,696,000 after purchasing an additional 115,601 shares during the period. Hedge funds and other institutional investors own 48.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ONC shares. Wolfe Research began coverage on BeOne Medicines in a research report on Friday, March 27th. They issued an “outperform” rating and a $340.00 target price on the stock. Jefferies Financial Group downgraded BeOne Medicines from a “buy” rating to a “hold” rating and lowered their price target for the company from $420.00 to $290.00 in a research report on Monday, March 16th. Guggenheim upped their price target on BeOne Medicines from $410.00 to $420.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Leerink Partners raised their price objective on BeOne Medicines from $364.00 to $367.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BeOne Medicines in a research note on Monday, April 20th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $390.00.

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.