BeOne Medicines (NASDAQ:ONC) Hits New 52-Week High – Should You Buy?

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) shares hit a new 52-week high on Wednesday. The stock traded as high as $386.87 and last traded at $386.2450, with a volume of 61,766 shares. The stock had previously closed at $384.50.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Weiss Ratings upgraded shares of BeOne Medicines from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Truist Financial raised their price target on shares of BeOne Medicines from $418.00 to $420.00 and gave the company a “buy” rating in a research report on Wednesday, October 7th. Guggenheim boosted their price target on shares of BeOne Medicines from $420.00 to $430.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Citizens Jmp upped their price objective on BeOne Medicines from $396.00 to $405.00 and gave the stock a “market outperform” rating in a research report on Thursday, August 6th. Finally, Wall Street Zen upgraded BeOne Medicines from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 18th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $407.07.

BeOne Medicines Stock Up 0.6%

The firm has a market cap of $42.45 billion, a PE ratio of 67.96 and a beta of 0.61. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.06 and a current ratio of 3.40. The firm’s 50-day moving average price is $361.14 and its two-hundred day moving average price is $322.97.

BeOne Medicines (NASDAQ:ONC) last issued 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. The business had revenue of $1.71 billion during 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 research analysts expect that BeOne Medicines Ltd. – Sponsored ADR will post 8.99 EPS for the current fiscal year.

Insider Transactions at BeOne Medicines

In related news, insider Xiaodong Wang sold 31,027 shares of the business’s stock in a transaction on Tuesday, October 13th. The shares were sold at an average price of $350.99, for a total value of $10,890,166.73. Following the completion of the sale, the insider directly owned 31,027 shares of the company’s stock, valued at $10,890,166.73. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John Oyler sold 54,892 shares of the company’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $358.15, for a total transaction of $19,659,569.80. Following the completion of the transaction, the chief executive officer owned 240,743 shares of the company’s stock, valued at $86,222,105.45. This represents a 18.57% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 347,546 shares of company stock valued at $124,285,659 over the last quarter. 6.19% of the stock is owned by corporate insiders.

Institutional Trading of BeOne Medicines

Institutional investors and hedge funds have recently made changes to their positions in the company. First Trust Advisors LP boosted its position in shares of BeOne Medicines by 91.9% in the 1st quarter. First Trust Advisors LP now owns 241,426 shares of the company’s stock valued at $71,696,000 after purchasing an additional 115,601 shares during the period. Jennison Associates LLC grew its stake in BeOne Medicines by 102.1% during the 1st quarter. Jennison Associates LLC now owns 154,465 shares of the company’s stock worth $45,871,000 after buying an additional 78,027 shares during the last quarter. Renaissance Technologies LLC purchased a new position in BeOne Medicines during the 1st quarter worth approximately $19,438,000. Candriam S.C.A. grew its stake in BeOne Medicines by 31.7% during the 1st quarter. Candriam S.C.A. now owns 259,731 shares of the company’s stock worth $77,132,000 after buying an additional 62,470 shares during the last quarter. Finally, SEB Asset Management AB acquired a new position in BeOne Medicines during the first quarter worth approximately $16,653,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

About BeOne Medicines

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.