BeOne Medicines (NASDAQ:ONC) Insider Xiaodong Wang Sells 38,287 Shares

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) insider Xiaodong Wang sold 38,287 shares of the stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $349.10, for a total transaction of $13,365,991.70. Following the transaction, the insider owned 6,079 shares in the company, valued at approximately $2,122,178.90. This represents a 86.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

BeOne Medicines Stock Performance

Shares of NASDAQ:ONC opened at $341.80 on Friday. The company has a market capitalization of $37.53 billion, a price-to-earnings ratio of 60.18 and a beta of 0.51. BeOne Medicines Ltd. – Sponsored ADR has a 52 week low of $253.95 and a 52 week high of $385.22. 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 firm has a 50 day moving average of $338.73 and a 200 day moving average of $311.25.

BeOne Medicines (NASDAQ:ONC) last announced its earnings results on Wednesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.65. BeOne Medicines had a return on equity of 14.23% and a net margin of 10.70%.The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.66 billion. On average, sell-side analysts predict that BeOne Medicines Ltd. – Sponsored ADR will post 8.81 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Mariner LLC raised its stake in shares of BeOne Medicines by 3.8% in the fourth quarter. Mariner LLC now owns 883 shares of the company’s stock worth $269,000 after purchasing an additional 32 shares during the last quarter. Steadtrust LLC boosted its position in BeOne Medicines by 3.7% in the second quarter. Steadtrust LLC now owns 1,400 shares of the company’s stock valued at $399,000 after buying an additional 50 shares during the last quarter. EverSource Wealth Advisors LLC increased 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 buying an additional 52 shares during the period. Sequoia Financial Advisors LLC increased 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 buying an additional 65 shares during the period. Finally, Parallel Advisors LLC raised its position in BeOne Medicines by 24.0% during the 1st quarter. Parallel Advisors LLC now owns 351 shares of the company’s stock worth $104,000 after buying an additional 68 shares during the last quarter. 48.55% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. lifted their target price on BeOne Medicines from $415.00 to $425.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Zacks Research raised shares of BeOne Medicines from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. Wolfe Research restated an “outperform” rating and issued a $370.00 price target on shares of BeOne Medicines in a report on Monday, August 10th. Truist Financial lifted their price objective on shares of BeOne Medicines from $416.00 to $418.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, Barclays boosted their price objective on shares of BeOne Medicines from $407.00 to $415.00 and gave the stock an “overweight” rating in a research note on Thursday. Three analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $402.71.

About BeOne Medicines

BeOne Medicines Ltd. is a global biotechnology company focused on the discovery, development and commercialization of medicines for cancer and other serious diseases. The company works across research, clinical development, manufacturing and commercialization, with the goal of expanding access to innovative treatments in markets around the world.

BeOne’s commercial portfolio includes BRUKINSA (zanubrutinib), a Bruton’s tyrosine kinase inhibitor used to treat certain B-cell malignancies, and TEVIMBRA (tislelizumab), an immunotherapy approved in multiple markets for several cancer indications.