BeOne Medicines (NASDAQ:ONC) COO Sells $356,927.92 in Stock

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) COO Xiaobin Wu sold 1,292 shares of the stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $276.26, for a total value of $356,927.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Xiaobin Wu also recently made the following trade(s):

• On Tuesday, June 16th, Xiaobin Wu sold 1,357 shares of BeOne Medicines stock. The shares were sold at an average price of $266.76, for a total transaction of $361,993.32.
• On Thursday, June 11th, Xiaobin Wu sold 626 shares of BeOne Medicines stock. The stock was sold at an average price of $261.20, for a total transaction of $163,511.20.
• On Monday, June 8th, Xiaobin Wu sold 1,484 shares of BeOne Medicines stock. The stock was sold at an average price of $269.37, for a total transaction of $399,745.08.

BeOne Medicines Stock Performance

Shares of NASDAQ:ONC traded down $1.78 during midday trading on Thursday, hitting $275.34. The stock had a trading volume of 231,751 shares, compared to its average volume of 260,107. BeOne Medicines Ltd. – Sponsored ADR has a 1 year low of $239.25 and a 1 year high of $385.22. The company has a current ratio of 3.64, a quick ratio of 3.27 and a debt-to-equity ratio of 0.20. The stock has a 50 day moving average price of $293.24 and a two-hundred day moving average price of $310.76. The company has a market capitalization of $30.21 billion, a PE ratio of 61.60 and a beta of 0.49.

BeOne Medicines (NASDAQ:ONC) last posted its quarterly earnings results on Wednesday, April 1st. The company reported $0.25 earnings per share (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%. As a group, equities analysts predict that BeOne Medicines Ltd. – Sponsored ADR will post 6.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

ONC has been the subject of several recent analyst reports. Barclays raised their price target on BeOne Medicines from $405.00 to $409.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Zacks Research raised BeOne Medicines from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 4th. Jefferies Financial Group cut BeOne Medicines from a “buy” rating to a “hold” rating and cut their price objective for the stock from $420.00 to $290.00 in a research report on Monday, March 16th. Morgan Stanley reissued an “overweight” rating and issued a $395.00 target price on shares of BeOne Medicines in a report on Thursday, May 7th. Finally, Wolfe Research started coverage on shares of BeOne Medicines in a research report on Friday, March 27th. They set an “outperform” rating and a $340.00 target price on the stock. Two equities research 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 given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $390.00.

Institutional Investors Weigh In On BeOne Medicines

Several institutional investors have recently modified their holdings of ONC. Empowered Funds LLC acquired a new stake in shares of BeOne Medicines in the 1st quarter worth approximately $201,000. Bank of America Corp DE raised its holdings 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 purchasing an additional 26,441 shares during the last quarter. ADAR1 Capital Management LLC acquired a new position in BeOne Medicines during the first quarter worth $3,475,000. EverSource Wealth Advisors LLC boosted its position in BeOne Medicines by 16.4% during the first quarter. EverSource Wealth Advisors LLC now owns 369 shares of the company’s stock worth $110,000 after purchasing an additional 52 shares in the last quarter. Finally, Royal Bank of Canada boosted its position in BeOne Medicines by 3.5% during the first quarter. Royal Bank of Canada now owns 70,391 shares of the company’s stock worth $20,905,000 after purchasing an additional 2,399 shares in the last quarter. 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.