BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC) Short Interest Update

Key Points

• Short interest fell by 19.5% in March to 1,214,628 shares as of March 31, representing a short-interest ratio of 5.9 days and about 1.2% of shares sold short.
• Analyst sentiment is largely positive with 11 Buy ratings, 2 Holds and 1 Sell, an average rating of "Moderate Buy" and an average target price of $385.08, following several recent upward target revisions.
• BeOne reported quarterly EPS of $0.58 (missing the $1.60 consensus by $1.02) while revenue of $1.50 billion slightly exceeded expectations, reflecting mixed fundamental results.

BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Get Free Report) was the target of a significant decrease in short interest in the month of March. As of March 31st, there was short interest totaling 1,214,628 shares, a decrease of 19.5% from the March 15th total of 1,508,660 shares. Based on an average daily trading volume, of 206,328 shares, the short-interest ratio is presently 5.9 days. Currently, 1.2% of the shares of the company are sold short.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Sanford C. Bernstein raised BeOne Medicines from a "hold" rating to an "outperform" rating and set a $414.00 target price on the stock in a report on Monday, January 12th. Barclays increased their price target on BeOne Medicines from $394.00 to $405.00 and gave the stock an "overweight" rating in a report on Friday, February 27th. Royal Bank Of Canada lifted their price objective on shares of BeOne Medicines from $417.00 to $425.00 and gave the company an "outperform" rating in a research report on Thursday, February 26th. Weiss Ratings restated a "sell (d-)" rating on shares of BeOne Medicines in a research report on Wednesday, January 21st. Finally, Wolfe Research started coverage on shares of BeOne Medicines in a research note on Friday, March 27th. They issued an "outperform" rating and a $340.00 target price for the company. Eleven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $385.08.

BeOne Medicines Stock Performance

Shares of ONC stock traded up $0.76 during trading hours on Thursday, reaching $320.70. 206,871 shares of the company's stock were exchanged, compared to its average volume of 200,125. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.41 and a quick ratio of 3.08. The company's 50 day moving average is $314.16 and its two-hundred day moving average is $324.55. The company has a market cap of $35.19 billion, a P/E ratio of 127.26 and a beta of 0.53. BeOne Medicines has a 1 year low of $218.31 and a 1 year high of $385.22.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.58 earnings per share for the quarter, missing analysts' consensus estimates of $1.60 by ($1.02). The business had revenue of $1.50 billion during the quarter, compared to analysts' expectations of $1.45 billion. BeOne Medicines had a net margin of 5.37% and a return on equity of 10.70%. Equities research analysts anticipate that BeOne Medicines will post -5.82 EPS for the current fiscal year.

Insider Activity

In related news, SVP Chan Henry Lee sold 1,660 shares of the business's stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $349.52, for a total value of $580,203.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders sold a total of 2,333 shares of company stock worth $785,951 over the last 90 days. Company insiders own 6.62% of the company's stock.

Hedge Funds Weigh In On BeOne Medicines

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. EFG International AG purchased a new position in shares of BeOne Medicines in the 4th quarter valued at about $25,000. Anchor Investment Management LLC acquired a new position in BeOne Medicines during the second quarter worth about $26,000. Leonteq Securities AG acquired a new position in BeOne Medicines during the fourth quarter worth about $35,000. Daiwa Securities Group Inc. purchased a new position in BeOne Medicines in the second quarter valued at about $35,000. Finally, CWM LLC increased its holdings in BeOne Medicines by 32.8% in the fourth quarter. CWM LLC now owns 158 shares of the company's stock valued at $48,000 after buying an additional 39 shares in the last quarter. 48.55% of the stock is owned by institutional investors and hedge funds.

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.

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