Xiaodong Wang Sells 38,287 Shares of BeOne Medicines (NASDAQ:ONC) Stock

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) insider Xiaodong Wang sold 38,287 shares of the company’s stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $349.10, for a total transaction of $13,365,991.70. Following the transaction, the insider owned 6,079 shares of the company’s stock, valued at approximately $2,122,178.90. This represents a 86.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

BeOne Medicines Stock Performance

Shares of BeOne Medicines stock opened at $346.51 on Friday. The company’s 50 day moving average price is $339.71 and its two-hundred day moving average price is $311.50. The firm has a market capitalization of $38.04 billion, a P/E ratio of 61.01 and a beta of 0.51. BeOne Medicines Ltd. – Sponsored ADR has a fifty-two week low of $253.95 and a fifty-two week high of $385.22. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.40 and a quick ratio of 3.06.

BeOne Medicines (NASDAQ:ONC) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.65. The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.66 billion. BeOne Medicines had a net margin of 10.70% and a return on equity of 14.23%. On average, equities analysts forecast that BeOne Medicines Ltd. – Sponsored ADR will post 8.81 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ONC shares. Citigroup reiterated an “outperform” rating on shares of BeOne Medicines in a research report on Thursday, August 6th. Barclays upped their price target on shares of BeOne Medicines from $407.00 to $415.00 and gave the company an “overweight” rating in a research report on Thursday. Wolfe Research reiterated an “outperform” rating and set a $370.00 price target on shares of BeOne Medicines in a report on Monday, August 10th. Morgan Stanley reissued an “overweight” rating on shares of BeOne Medicines in a research note on Thursday, August 6th. Finally, Zacks Research upgraded BeOne Medicines from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $402.71.

Hedge Funds Weigh In On BeOne Medicines

Large investors have recently bought and sold shares of the stock. EFG International AG bought a new stake in shares of BeOne Medicines in the 4th quarter worth $25,000. Leonteq Securities AG purchased a new position in BeOne Medicines during the fourth quarter worth about $35,000. Daiwa Securities Group Inc. bought a new stake in BeOne Medicines in the 2nd quarter worth about $35,000. Group One Trading LLC bought a new position in shares of BeOne Medicines during the 4th quarter worth approximately $61,000. Finally, EverSource Wealth Advisors LLC purchased a new position in shares of BeOne Medicines in the 2nd quarter worth approximately $68,000. 48.55% of the stock is currently owned by institutional investors.

About BeOne Medicines

BeOne Medicines Ltd. is a global biotechnology company focused on the discovery, development and commercialization of medicines for cancer and other serious diseases. The company works across research, clinical development, manufacturing and commercialization, with the goal of expanding access to innovative treatments in markets around the world.

BeOne’s commercial portfolio includes BRUKINSA (zanubrutinib), a Bruton’s tyrosine kinase inhibitor used to treat certain B-cell malignancies, and TEVIMBRA (tislelizumab), an immunotherapy approved in multiple markets for several cancer indications.