Corazon (Corsee) Sanders Sells 212 Shares of BeOne Medicines (NASDAQ:ONC) Stock

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) Director Corazon (Corsee) Sanders sold 212 shares of BeOne Medicines stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $309.59, for a total transaction of $65,633.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

BeOne Medicines Trading Down 0.8%

NASDAQ ONC traded down $2.43 during trading on Wednesday, hitting $300.01. The company had a trading volume of 159,041 shares, compared to its average volume of 252,436. The company’s fifty day moving average is $301.85 and its 200-day moving average is $321.12. BeOne Medicines Ltd. – Sponsored ADR has a one year low of $235.57 and a one year high of $385.22. The company has a current ratio of 3.64, a quick ratio of 3.27 and a debt-to-equity ratio of 0.20. The company has a market cap of $32.92 billion, a price-to-earnings ratio of 67.12 and a beta of 0.50.

BeOne Medicines (NASDAQ:ONC) last announced its earnings results on Wednesday, April 1st. The company reported $0.25 earnings per share for the quarter. BeOne Medicines had a net margin of 8.94% and a return on equity of 12.06%. The firm had revenue of $1.51 billion for the quarter. On average, sell-side analysts predict that BeOne Medicines Ltd. – Sponsored ADR will post 5.65 earnings per share for the current year.

Institutional Trading of BeOne Medicines

A number of hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE purchased a new stake in shares of BeOne Medicines in the 2nd quarter worth approximately $67,657,000. Man Group plc purchased a new position in BeOne Medicines during the second quarter valued at $59,031,000. Capital International Investors boosted its holdings in BeOne Medicines by 3.3% in the third quarter. Capital International Investors now owns 5,046,058 shares of the company’s stock worth $1,716,883,000 after acquiring an additional 161,052 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in BeOne Medicines in the second quarter worth $38,337,000. Finally, First Trust Advisors LP grew its stake in shares of BeOne Medicines by 91.9% in the first quarter. First Trust Advisors LP now owns 241,426 shares of the company’s stock worth $71,696,000 after acquiring an additional 115,601 shares during the last quarter. 48.55% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Truist Financial reissued a “buy” rating and issued a $413.00 target price (up from $411.00) on shares of BeOne Medicines in a research report on Thursday, May 7th. Barclays upped their price target on BeOne Medicines from $405.00 to $409.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Wall Street Zen upgraded BeOne Medicines from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Morgan Stanley reissued an “overweight” rating and set a $395.00 price objective on shares of BeOne Medicines in a research report on Thursday, May 7th. Finally, Leerink Partners upped their target price on shares of BeOne Medicines from $364.00 to $367.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell 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 $389.15.

About BeOne Medicines

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.