BeOne Medicines (NASDAQ:ONC) CEO John Oyler Sells 115,011 Shares

Key Points

• CEO John Oyler sold 115,011 BeOne Medicines shares at an average price of $357.87, generating approximately $41.2 million. The Rule 10b5-1 transaction reduced his ownership by 47.76%, leaving him with 125,799 shares.
• BeOne Medicines recently beat quarterly expectations, reporting $2.05 in earnings per share versus the $1.40 consensus and revenue of $1.71 billion. The stock traded near $359, with a 52-week range of $253.95 to $385.22.
• Analysts remain broadly optimistic, with the stock carrying a consensus “Buy” rating and an average price target of $402.14. Recent targets include $425 from JPMorgan and $418 from Truist Financial.

BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Get Free Report) CEO John Oyler sold 115,011 shares of the firm's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $357.87, for a total value of $41,158,986.57. Following the transaction, the chief executive officer owned 125,799 shares in the company, valued at approximately $45,019,688.13. This trade represents a 47.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

John Oyler also recently made the following trade(s):

• On Wednesday, August 12th, John Oyler sold 54,892 shares of BeOne Medicines stock. The shares were sold at an average price of $358.15, for a total transaction of $19,659,569.80.
• On Tuesday, August 11th, John Oyler sold 70,907 shares of BeOne Medicines stock. The shares were sold at an average price of $361.90, for a total transaction of $25,661,243.30.
• On Monday, July 20th, John Oyler sold 48,316 shares of BeOne Medicines stock. The shares were sold at an average price of $312.25, for a total transaction of $15,086,671.00.
• On Tuesday, July 21st, John Oyler sold 61,397 shares of BeOne Medicines stock. The stock was sold at an average price of $317.67, for a total transaction of $19,503,984.99.
• On Friday, July 10th, John Oyler sold 11,698 shares of BeOne Medicines stock. The stock was sold at an average price of $298.34, for a total transaction of $3,489,981.32.
• On Monday, July 13th, John Oyler sold 48,520 shares of BeOne Medicines stock. The stock was sold at an average price of $304.35, for a total transaction of $14,767,062.00.
• On Tuesday, July 14th, John Oyler sold 145,861 shares of BeOne Medicines stock. The shares were sold at an average price of $305.95, for a total transaction of $44,626,172.95.
• On Tuesday, June 23rd, John Oyler sold 3,410 shares of BeOne Medicines stock. The stock was sold at an average price of $273.78, for a total value of $933,589.80.
• On Tuesday, June 16th, John Oyler sold 3,693 shares of BeOne Medicines stock. The stock was sold at an average price of $265.55, for a total value of $980,676.15.
• On Thursday, June 11th, John Oyler sold 1,949 shares of BeOne Medicines stock. The shares were sold at an average price of $257.24, for a total value of $501,360.76.

BeOne Medicines Stock Performance

Shares of ONC traded down $0.22 on Wednesday, reaching $359.05. 314,911 shares of the company's stock traded hands, compared to its average volume of 289,218. The company has a current ratio of 3.40, a quick ratio of 3.06 and a debt-to-equity ratio of 0.17. The stock has a market cap of $39.39 billion, a PE ratio of 63.21 and a beta of 0.49. The stock's 50 day simple moving average is $299.80 and its two-hundred day simple moving average is $308.98. BeOne Medicines Ltd. - Sponsored ADR has a 52-week low of $253.95 and a 52-week high of $385.22.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.65. The business had revenue of $1.71 billion for the quarter, compared to analysts' expectations of $1.66 billion. BeOne Medicines had a return on equity of 14.23% and a net margin of 10.70%. On average, analysts forecast that BeOne Medicines Ltd. - Sponsored ADR will post 7.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ONC has been the subject of several research reports. Nomura upgraded shares of BeOne Medicines to a "strong-buy" rating in a research report on Monday, July 27th. 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. Wall Street Zen upgraded BeOne Medicines from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 18th. JPMorgan Chase & Co. increased their price objective on BeOne Medicines from $415.00 to $425.00 and gave the company an "overweight" rating in a report on Thursday, July 23rd. Finally, Wolfe Research reissued an "outperform" rating and issued a $370.00 target price on shares of BeOne Medicines in a research report on Monday. Three analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $402.14.

Hedge Funds Weigh In On BeOne Medicines

Large investors have recently modified their holdings of the business. Generali Investments Management Co LLC bought a new stake in shares of BeOne Medicines in the second quarter valued at approximately $2,280,000. Charles Schwab Trust Co purchased a new position in BeOne Medicines in the 2nd quarter valued at approximately $855,000. Steadtrust LLC grew its stake 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 buying an additional 50 shares in the last quarter. Empowered Funds LLC bought a new stake in BeOne Medicines during the 1st quarter valued at $201,000. Finally, Bank of America Corp DE raised its holdings in BeOne Medicines by 7.0% during the 1st quarter. Bank of America Corp DE now owns 405,273 shares of the company's stock valued at $120,354,000 after acquiring an additional 26,441 shares during the period. Hedge funds and other institutional investors own 48.55% of the company's stock.

About BeOne Medicines

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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