BeOne Medicines (NASDAQ:ONC) Sees Strong Trading Volume on Analyst Upgrade

Shares of BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) saw unusually-strong trading volume on Monday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. 182,550 shares changed hands during mid-day trading, a decline of 35% from the previous session’s volume of 281,438 shares.The stock last traded at $359.6170 and had previously closed at $348.27.

ONC has been the subject of several other research reports. 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 report on Thursday, August 6th. Truist Financial raised their target price on BeOne Medicines from $416.00 to $418.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Leerink Partners boosted their price target on BeOne Medicines from $364.00 to $367.00 and gave the company an “outperform” rating in a report on Friday, May 15th. Nomura raised BeOne Medicines to a “strong-buy” rating in a research report on Monday, July 27th. Finally, JPMorgan Chase & Co. raised their target price on shares of BeOne Medicines from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Three research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, BeOne Medicines currently has a consensus rating of “Buy” and an average target price of $402.14.

Insider Transactions at BeOne Medicines

In other news, CEO John Oyler sold 145,861 shares of the company’s stock in a transaction dated Tuesday, July 14th. The shares were sold at an average price of $305.95, for a total value of $44,626,172.95. Following the transaction, the chief executive officer directly owned 8,122 shares in the company, valued at approximately $2,484,925.90. This represents a 94.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Xiaobin Wu sold 1,484 shares of BeOne Medicines stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $269.37, for a total transaction of $399,745.08. Following the sale, the chief operating officer owned 40 shares of the company’s stock, valued at $10,774.80. The trade was a 97.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 345,229 shares of company stock valued at $105,522,788. 6.19% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. EFG International AG bought a new position in BeOne Medicines in the fourth quarter worth about $25,000. Leonteq Securities AG purchased a new position in BeOne Medicines in the fourth quarter worth $35,000. Daiwa Securities Group Inc. acquired a new position in shares of BeOne Medicines during the second quarter worth $35,000. CWM LLC increased its position in shares of BeOne Medicines by 32.8% during the fourth quarter. CWM LLC now owns 158 shares of the company’s stock worth $48,000 after purchasing an additional 39 shares in the last quarter. Finally, Group One Trading LLC purchased a new stake in shares of BeOne Medicines during the 4th quarter valued at $61,000. 48.55% of the stock is owned by institutional investors.

BeOne Medicines Price Performance

The stock has a 50-day moving average price of $299.80 and a two-hundred day moving average price of $308.98. The company has a current ratio of 3.40, a quick ratio of 3.06 and a debt-to-equity ratio of 0.17. The stock has a market cap of $39.42 billion, a price-to-earnings ratio of 63.25 and a beta of 0.49.

BeOne Medicines (NASDAQ:ONC) last announced its earnings results on Wednesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.65. BeOne Medicines had a return on equity of 14.23% and a net margin of 10.70%.The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.66 billion. As a group, equities research analysts forecast that BeOne Medicines Ltd. – Sponsored ADR will post 7.3 EPS for the current year.

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.