BeOne Medicines (NASDAQ:ONC) Insider Xiaodong Wang Sells 31,028 Shares of Stock

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) insider Xiaodong Wang sold 31,028 shares of BeOne Medicines stock in a transaction on Tuesday, October 27th. The stock was sold at an average price of $362.97, for a total transaction of $11,262,233.16. Following the completion of the transaction, the insider directly owned 31,028 shares in the company, valued at approximately $11,262,233.16. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 Tuesday, October 13th, Xiaodong Wang sold 31,027 shares of BeOne Medicines stock. The shares were sold at an average price of $350.99, for a total transaction of $10,890,166.73.
• On Monday, September 28th, Xiaodong Wang sold 31,028 shares of BeOne Medicines stock. The shares were 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 Price Performance

Shares of BeOne Medicines stock opened at $371.56 on Friday. The firm has a market cap of $40.79 billion, a PE ratio of 65.73 and a beta of 0.61. BeOne Medicines Ltd. – Sponsored ADR has a 12-month low of $253.95 and a 12-month high of $388.66. The company has a quick ratio of 3.06, a current ratio of 3.40 and a debt-to-equity ratio of 0.17. The company’s fifty day simple moving average is $363.12 and its two-hundred day simple moving average is $325.26.

BeOne Medicines (NASDAQ:ONC) last released its quarterly earnings data on Wednesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.65. The firm had revenue of $1.71 billion for 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%. As a group, equities analysts expect that BeOne Medicines Ltd. – Sponsored ADR will post 8.99 EPS for the current year.

Institutional Investors Weigh In On BeOne Medicines

Several institutional investors and hedge funds have recently modified their holdings of ONC. Summit Wealth Group LLC Co. purchased a new position in shares of BeOne Medicines during the third quarter valued at about $204,000. Mirae Asset Global Investments Co. Ltd. bought a new position in BeOne Medicines in the third quarter worth about $11,833,000. ProShare Advisors LLC boosted its position in BeOne Medicines by 15.0% during the 3rd quarter. ProShare Advisors LLC now owns 1,243 shares of the company’s stock valued at $455,000 after acquiring an additional 162 shares in the last quarter. Vise Technologies Inc. grew its holdings in shares of BeOne Medicines by 83.4% during the 3rd quarter. Vise Technologies Inc. now owns 2,100 shares of the company’s stock worth $768,000 after acquiring an additional 955 shares during the period. Finally, China Universal Asset Management Co. Ltd. grew its holdings in shares of BeOne Medicines by 24.4% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 6,541 shares of the company’s stock worth $2,389,000 after acquiring an additional 1,284 shares during the period. 48.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ONC. JPMorgan Chase & Co. boosted their price target on BeOne Medicines from $425.00 to $445.00 and gave the company an “overweight” rating in a report on Thursday, October 1st. Weiss Ratings raised BeOne Medicines from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Citizens Jmp increased their price objective on BeOne Medicines from $396.00 to $405.00 and gave the stock a “market outperform” rating in a report on Thursday, August 6th. Guggenheim lifted their price objective on BeOne Medicines from $420.00 to $430.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, Wall Street Zen raised BeOne Medicines from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 18th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, BeOne Medicines currently has an average rating of “Moderate Buy” and a consensus price target of $412.26.

BeOne Medicines Company Profile

BeOne Medicines Ltd. is a global oncology company focused on discovering, developing, manufacturing and commercializing medicines for cancer patients. Formerly known as BeiGene, the company operates an integrated biotechnology platform spanning research, clinical development, regulatory activities and commercial operations.

Its portfolio includes BRUKINSA (zanubrutinib), a Bruton’s tyrosine kinase inhibitor used in the treatment of several blood cancers, and TEVIMBRA (tislelizumab), an anti-PD-1 immunotherapy approved in multiple markets for certain cancers.