BeOne Medicines (NASDAQ:ONC) Director Sells $65,633.08 in Stock

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) Director Corazon (Corsee) Sanders sold 212 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $309.59, for a total transaction of $65,633.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

BeOne Medicines Stock Performance

ONC opened at $287.92 on Friday. The company has a current ratio of 3.64, a quick ratio of 3.27 and a debt-to-equity ratio of 0.20. BeOne Medicines Ltd. – Sponsored ADR has a 12-month low of $239.25 and a 12-month high of $385.22. The company has a market cap of $31.59 billion, a price-to-earnings ratio of 64.41 and a beta of 0.50. The company’s 50 day moving average is $302.03 and its 200 day moving average is $320.68.

BeOne Medicines (NASDAQ:ONC) last issued its quarterly earnings results on Wednesday, April 1st. The company reported $0.25 earnings per share for the quarter. BeOne Medicines had a net margin of 8.94% and a return on equity of 12.06%. The business had revenue of $1.51 billion for the quarter. On average, equities research analysts predict that BeOne Medicines Ltd. – Sponsored ADR will post 5.65 EPS for the current year.

Hedge Funds Weigh In On BeOne Medicines

Several hedge funds have recently modified their holdings of ONC. Bank of America Corp DE purchased a new position in shares of BeOne Medicines in the second quarter worth $67,657,000. Man Group plc bought a new position in shares of BeOne Medicines during the 2nd quarter valued at about $59,031,000. Capital International Investors boosted its holdings in shares of BeOne Medicines by 3.3% during 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 during the last quarter. BNP Paribas Financial Markets bought a new position in shares of BeOne Medicines during the 2nd quarter valued at about $38,337,000. Finally, First Trust Advisors LP increased its holdings in shares of BeOne Medicines by 91.9% in the first quarter. First Trust Advisors LP now owns 241,426 shares of the company’s stock worth $71,696,000 after purchasing an additional 115,601 shares during the last quarter. Hedge funds and other institutional investors own 48.55% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Jefferies Financial Group downgraded shares of 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 report on Monday, March 16th. Morgan Stanley reaffirmed an “overweight” rating and set a $395.00 price target on shares of BeOne Medicines in a report on Thursday, May 7th. Wall Street Zen raised shares of BeOne Medicines from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Truist Financial reaffirmed a “buy” rating and set a $413.00 price target (up from $411.00) on shares of BeOne Medicines in a report on Thursday, May 7th. Finally, Leerink Partners lifted their price target on shares of BeOne Medicines from $364.00 to $367.00 and gave the company an “outperform” rating in a report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $389.15.

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.