BeOne Medicines (NASDAQ:ONC) Stock: Insider Titus Ball Sells 1,559 Shares

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) insider Titus Ball sold 1,559 shares of BeOne Medicines stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $405.57, for a total value of $632,283.63. Following the sale, the insider directly owned 880 shares in the company, valued at approximately $356,901.60. This trade represents a 63.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

BeOne Medicines Trading Down 0.9%

Shares of ONC opened at $419.98 on Thursday. The firm has a market capitalization of $46.11 billion, a price-to-earnings ratio of 53.36 and a beta of 0.63. The company has a quick ratio of 3.19, a current ratio of 3.55 and a debt-to-equity ratio of 0.14. BeOne Medicines Ltd. – Sponsored ADR has a 12-month low of $253.95 and a 12-month high of $424.73. The stock’s 50-day moving average price is $367.02 and its 200 day moving average price is $327.55.

BeOne Medicines (NASDAQ:ONC) last released its quarterly earnings data on Thursday, November 5th. The company reported $3.64 EPS for the quarter, topping analysts’ consensus estimates of $2.34 by $1.30. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.76 billion. BeOne Medicines had a net margin of 13.86% and a return on equity of 19.04%. As a group, research analysts predict that BeOne Medicines Ltd. – Sponsored ADR will post 8.99 earnings per share for the current year.

Institutional Trading of BeOne Medicines

Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC lifted its position in BeOne Medicines by 39.5% during the 3rd quarter. GAMMA Investing LLC now owns 120 shares of the company’s stock worth $44,000 after buying an additional 34 shares in the last quarter. Mather Group LLC. increased its position in BeOne Medicines by 192.0% in the 3rd quarter. Mather Group LLC. now owns 73 shares of the company’s stock valued at $27,000 after acquiring an additional 48 shares in the last quarter. Signaturefd LLC increased its position in BeOne Medicines by 13.4% in the 3rd quarter. Signaturefd LLC now owns 414 shares of the company’s stock valued at $152,000 after acquiring an additional 49 shares in the last quarter. Steadtrust LLC increased its position in BeOne Medicines by 3.7% in the 2nd quarter. Steadtrust LLC now owns 1,400 shares of the company’s stock valued at $399,000 after acquiring an additional 50 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in BeOne Medicines by 16.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 369 shares of the company’s stock valued at $110,000 after acquiring an additional 52 shares in the last quarter. 48.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ONC shares. China Intl Cap started coverage on BeOne Medicines in a report on Friday, November 6th. They set a “strong-buy” rating for the company. Wells Fargo & Company increased their target price on shares of BeOne Medicines from $400.00 to $435.00 and gave the stock an “overweight” rating in a research report on Friday, November 6th. Truist Financial reiterated a “buy” rating and set a $448.00 target price (up from $420.00) on shares of BeOne Medicines in a research report on Friday, November 6th. Royal Bank Of Canada lifted their price target on shares of BeOne Medicines from $459.00 to $465.00 and gave the company an “outperform” rating in a report on Friday, November 6th. Finally, TD Cowen boosted their price target on shares of BeOne Medicines from $424.00 to $454.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $436.92.

About BeOne Medicines

BeOne Medicines, formerly known as BeiGene, is a global biotechnology company focused on discovering, developing, manufacturing and commercializing cancer medicines. Founded in Beijing in 2010, the company has expanded its research and commercial operations across multiple regions, including the United States, Europe and Asia. Its marketed products include Brukinsa (zanubrutinib), a targeted therapy for certain blood cancers, and Tevimbra (tislelizumab), an immunotherapy used to treat several types of cancer.