BeOne Medicines (NASDAQ:ONC) Insider Xiaodong Wang Sells 31,027 Shares of Company Stock

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) insider Xiaodong Wang sold 31,027 shares of the business’s stock in a transaction that occurred on Tuesday, October 13th. The stock was sold at an average price of $350.99, for a total transaction of $10,890,166.73. Following the completion of the sale, the insider directly owned 31,027 shares of the company’s stock, valued at $10,890,166.73. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, September 28th, Xiaodong Wang sold 31,028 shares of BeOne Medicines stock. The stock was sold at an average price of $364.79, for a total transaction of $11,318,704.12.
• On Tuesday, September 8th, Xiaodong Wang sold 38,287 shares of BeOne Medicines stock. The shares were sold at an average price of $349.10, for a total transaction of $13,365,991.70.

BeOne Medicines Stock Up 6.4%

BeOne Medicines stock opened at $374.08 on Friday. The company has a current ratio of 3.40, a quick ratio of 3.06 and a debt-to-equity ratio of 0.17. BeOne Medicines Ltd. – Sponsored ADR has a 1-year low of $253.95 and a 1-year high of $385.22. The firm’s fifty day simple moving average is $360.00 and its 200-day simple moving average is $321.32. The company has a market capitalization of $41.07 billion, a P/E ratio of 61.88 and a beta of 0.61.

BeOne Medicines (NASDAQ:ONC) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.65. The firm had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.66 billion. BeOne Medicines had a net margin of 10.70% and a return on equity of 14.23%. Sell-side analysts forecast that BeOne Medicines Ltd. – Sponsored ADR will post 8.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ONC shares. Nomura raised BeOne Medicines to a “strong-buy” rating in a research report on Monday, July 27th. Citizens Jmp upped their price target on BeOne Medicines from $396.00 to $405.00 and gave the stock a “market outperform” rating in a research note on Thursday, August 6th. Wolfe Research reissued an “outperform” rating and set a $370.00 price objective on shares of BeOne Medicines in a report on Monday, August 10th. Barclays increased their price objective on BeOne Medicines from $407.00 to $415.00 and gave the company an “overweight” rating in a report on Thursday, September 10th. Finally, TD Cowen raised their price objective on BeOne Medicines from $424.00 to $454.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $404.93.

Institutional Trading of BeOne Medicines

A number of institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings in shares of BeOne Medicines by 39.5% during the 3rd quarter. GAMMA Investing LLC now owns 120 shares of the company’s stock worth $44,000 after buying an additional 34 shares during the period. Mather Group LLC. grew its stake in BeOne Medicines by 192.0% in the 3rd quarter. Mather Group LLC. now owns 73 shares of the company’s stock valued at $27,000 after buying an additional 48 shares during the last quarter. Steadtrust LLC raised its holdings in BeOne Medicines by 3.7% in the 2nd quarter. Steadtrust LLC now owns 1,400 shares of the company’s stock worth $399,000 after acquiring an additional 50 shares during the period. EverSource Wealth Advisors LLC raised its holdings in BeOne Medicines by 16.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 369 shares of the company’s stock worth $110,000 after acquiring an additional 52 shares during the period. Finally, Sequoia Financial Advisors LLC raised its holdings in BeOne Medicines by 4.2% in the 1st quarter. Sequoia Financial Advisors LLC now owns 1,628 shares of the company’s stock worth $483,000 after acquiring an additional 65 shares during the period. 48.55% of the stock is currently owned by institutional investors and hedge funds.

About BeOne Medicines

BeOne Medicines Ltd. (NASDAQ: ONC) is a global oncology company focused on discovering, developing, manufacturing and commercializing medicines for people with cancer. The company operates across the research and development, clinical testing, regulatory and commercial stages of the biopharmaceutical industry, with an emphasis on treatments for blood cancers and solid tumors.

Its marketed portfolio includes BRUKINSA (zanubrutinib), a Bruton’s tyrosine kinase inhibitor used to treat several B-cell malignancies, and TEVIMBRA (tislelizumab), an immunotherapy targeting the PD-1 pathway for certain cancers.