BeOne Medicines (NASDAQ:ONC) Reaches New 12-Month High – Here’s What Happened

Shares of BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) reached a new 52-week high during trading on Tuesday . The stock traded as high as $335.20 and last traded at $335.20, with a volume of 27393 shares changing hands. The stock had previously closed at $306.05.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Royal Bank Of Canada boosted their target price on BeOne Medicines from $349.00 to $364.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. Morgan Stanley boosted their target price on BeOne Medicines from $313.00 to $330.00 and gave the company an “overweight” rating in a research report on Friday, June 27th. JPMorgan Chase & Co. boosted their target price on BeOne Medicines from $321.00 to $345.00 and gave the company an “overweight” rating in a research report on Thursday, July 17th. Wall Street Zen raised BeOne Medicines from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 9th. Finally, Guggenheim boosted their target price on BeOne Medicines from $350.00 to $365.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Seven investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $330.89.

BeOne Medicines Trading Up 1.3%

The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.72. The business’s 50 day moving average is $287.95 and its 200 day moving average is $261.55. The stock has a market cap of $36.85 billion, a price-to-earnings ratio of -194.37 and a beta of 0.21.

BeOne Medicines (NASDAQ:ONC) last issued its earnings results on Wednesday, August 6th. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.36. BeOne Medicines had a negative net margin of 3.89% and a negative return on equity of 1.22%. The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.24 billion. As a group, equities analysts expect that BeOne Medicines Ltd. – Sponsored ADR will post -5.82 earnings per share for the current fiscal year.

Insider Buying and Selling

In other BeOne Medicines news, insider Lai Wang sold 4,041 shares of the company’s stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $302.49, for a total value of $1,222,362.09. Following the completion of the transaction, the insider owned 259 shares in the company, valued at $78,344.91. This represents a 93.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Xiaodong Wang sold 41,760 shares of the company’s stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $262.82, for a total transaction of $10,975,363.20. The disclosure for this sale can be found here. Insiders have sold a total of 203,730 shares of company stock valued at $57,617,229 over the last ninety days. Company insiders own 6.62% of the company’s stock.

Institutional Investors Weigh In On BeOne Medicines

Hedge funds have recently made changes to their positions in the business. Anchor Investment Management LLC acquired a new stake in shares of BeOne Medicines during the second quarter worth about $26,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of BeOne Medicines during the second quarter worth about $28,000. Daiwa Securities Group Inc. acquired a new stake in BeOne Medicines in the second quarter valued at about $35,000. Farther Finance Advisors LLC acquired a new stake in BeOne Medicines in the second quarter valued at about $39,000. Finally, Signaturefd LLC acquired a new stake in BeOne Medicines in the second quarter valued at about $49,000. Institutional investors and hedge funds own 48.55% of the company’s stock.

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.