BeOne Medicines (NASDAQ:ONC) Sees Unusually-High Trading Volume - Still a Buy?

Key Points

• BeOne Medicines shares rose 3.1% to $359.62, while midday trading volume reached 182,550 shares—down 35% from the prior session.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $402.14, implying additional upside.
• The company beat quarterly expectations, reporting $2.05 in EPS versus $1.40 expected and revenue of $1.71 billion versus the $1.66 billion consensus estimate.

BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Get Free Report) shares saw an uptick in trading volume on Monday . 182,550 shares were traded during mid-day trading, a decline of 35% from the previous session's volume of 281,438 shares.The stock last traded at $359.6170 and had previously closed at $348.27.

Analyst Ratings Changes

ONC has been the topic of a number of analyst reports. Wolfe Research reaffirmed an "outperform" rating and set a $370.00 price objective on shares of BeOne Medicines in a research note on Monday. Truist Financial increased their price target on shares of BeOne Medicines from $416.00 to $418.00 and gave the stock a "buy" rating in a report on Thursday. JPMorgan Chase & Co. raised their price target on shares of BeOne Medicines from $415.00 to $425.00 and gave the company an "overweight" rating in a research report on Thursday, July 23rd. Barclays lifted their price objective on shares of BeOne Medicines from $403.00 to $407.00 and gave the company an "overweight" rating in a report on Thursday. Finally, Leerink Partners upped their price objective on shares of BeOne Medicines from $364.00 to $367.00 and gave the stock an "outperform" rating in a research report on Friday, May 15th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $402.14.

BeOne Medicines Stock Up 3.1%

The stock has a market cap of $39.39 billion, a price-to-earnings ratio of 63.20 and a beta of 0.49. The business's 50 day moving average is $296.52 and its 200-day moving average is $308.69. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.06 and a current ratio of 3.40.

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 (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.65. BeOne Medicines had a net margin of 10.70% and a return on equity of 14.23%. The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.66 billion. On average, sell-side analysts predict that BeOne Medicines Ltd. - Sponsored ADR will post 7.3 EPS for the current fiscal year.

Insider Transactions at BeOne Medicines

In other BeOne Medicines news, SVP Chan Henry Lee sold 1,044 shares of the business's stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $323.69, for a total transaction of $337,932.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Aaron Rosenberg sold 1,157 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $312.71, for a total value of $361,805.47. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 345,561 shares of company stock valued at $105,625,947. 6.19% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. EFG International AG acquired a new stake in BeOne Medicines during the 4th quarter worth $25,000. Leonteq Securities AG purchased a new position in shares of BeOne Medicines in the fourth quarter worth about $35,000. Daiwa Securities Group Inc. purchased a new position in shares of BeOne Medicines in the second quarter worth about $35,000. CWM LLC grew its stake in BeOne Medicines by 32.8% during the 4th quarter. CWM LLC now owns 158 shares of the company's stock valued at $48,000 after acquiring an additional 39 shares in the last quarter. Finally, Group One Trading LLC purchased a new stake in BeOne Medicines during the 4th quarter valued at about $61,000. 48.55% of the stock is owned by institutional investors and hedge funds.

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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