BeOne Medicines (NASDAQ:ONC) CEO Sells $1,336,566.40 in Stock

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) CEO John Oyler sold 4,940 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $270.56, for a total transaction of $1,336,566.40. Following the sale, the chief executive officer directly owned 1,120 shares of the company’s stock, valued at $303,027.20. This represents a 81.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

BeOne Medicines Stock Up 1.6%

NASDAQ:ONC opened at $264.48 on Friday. BeOne Medicines Ltd. – Sponsored ADR has a 1-year low of $239.25 and a 1-year high of $385.22. The company has a 50-day moving average of $299.42 and a 200 day moving average of $314.63. The firm has a market cap of $29.02 billion, a PE ratio of 59.17 and a beta of 0.49. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.64 and a quick ratio of 3.27.

BeOne Medicines (NASDAQ:ONC) last released its quarterly earnings data 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 company had revenue of $1.51 billion during the quarter. As a group, research analysts anticipate that BeOne Medicines Ltd. – Sponsored ADR will post 6.14 EPS for the current fiscal year.

Institutional Trading of BeOne Medicines

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

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Truist Financial reaffirmed a “buy” rating and issued a $413.00 price objective (up from $411.00) on shares of BeOne Medicines in a research note on Thursday, May 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BeOne Medicines in a research note on Monday, April 20th. Wells Fargo & Company started coverage on shares of BeOne Medicines in a research report on Monday, May 4th. They set an “overweight” rating and a $400.00 price target for the company. Wall Street Zen raised shares of BeOne Medicines from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Finally, Zacks Research raised shares of BeOne Medicines from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 4th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, BeOne Medicines has an average rating of “Moderate Buy” and a consensus price target of $390.00.

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. The company was founded by Xiao Dong Wang and John V. Oyler on October 28, 2010 and is headquartered in Basel, Switzerland.