BeOne Medicines (NASDAQ:ONC) Shares Gap Down - Should You Sell?

Key Points

• BeOne Medicines' shares gapped down from a previous close of $351.09 to open at $335.51, indicating a significant market movement.
• Analysts have mixed ratings, with Weiss Ratings issuing a "sell" rating, while Wall Street Zen upgraded the stock to "strong-buy", reflecting varying perspectives on the stock's future.
• The company reported a positive quarterly EPS of $0.84, exceeding estimates, but has a current fiscal year forecasted EPS of -5.82, highlighting ongoing financial challenges.

Shares of BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $351.09, but opened at $335.51. BeOne Medicines shares last traded at $330.32, with a volume of 29,969 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts have commented on ONC shares. Weiss Ratings reissued a "sell (d-)" rating on shares of BeOne Medicines in a research report on Wednesday. Wall Street Zen raised shares of BeOne Medicines from a "buy" rating to a "strong-buy" rating in a research report on Friday, October 3rd. Barclays began coverage on shares of BeOne Medicines in a research report on Thursday, September 18th. They set an "overweight" rating and a $385.00 price objective for the company. Guggenheim lifted their price objective on shares of BeOne Medicines from $350.00 to $365.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Finally, Morgan Stanley lifted their price objective on shares of BeOne Medicines from $313.00 to $330.00 and gave the stock an "overweight" rating in a research report on Friday, June 27th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, BeOne Medicines currently has a consensus rating of "Moderate Buy" and an average price target of $340.30.

BeOne Medicines Price Performance

The company's 50 day moving average is $321.31 and its 200 day moving average is $275.53. The company has a current ratio of 1.95, a quick ratio of 1.72 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $36.80 billion, a price-to-earnings ratio of -194.10 and a beta of 0.31.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.84 EPS for the quarter, beating analysts' consensus estimates of $0.48 by $0.36. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.24 billion. BeOne Medicines had a negative net margin of 3.89% and a negative return on equity of 1.22%. Research analysts anticipate that BeOne Medicines Ltd. - Sponsored ADR will post -5.82 EPS for the current fiscal year.

Insider Buying and Selling

In other BeOne Medicines news, CEO John Oyler sold 27,803 shares of BeOne Medicines stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $325.71, for a total value of $9,055,715.13. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Corazon (Corsee) D. Sanders sold 2,665 shares of BeOne Medicines stock in a transaction on Friday, September 5th. The shares were sold at an average price of $337.00, for a total transaction of $898,105.00. The disclosure for this sale can be found here. Insiders sold a total of 153,513 shares of company stock valued at $47,795,028 in the last quarter. Corporate insiders own 6.62% of the company's stock.

Institutional Trading of BeOne Medicines

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Anchor Investment Management LLC purchased a new stake in shares of BeOne Medicines in the second quarter valued at about $26,000. Caitong International Asset Management Co. Ltd purchased a new stake in BeOne Medicines during the second quarter worth about $28,000. Daiwa Securities Group Inc. purchased a new stake in BeOne Medicines during the second quarter worth about $35,000. Farther Finance Advisors LLC purchased a new stake in BeOne Medicines during the second quarter worth about $39,000. Finally, Signaturefd LLC purchased a new stake in BeOne Medicines during the second quarter worth about $49,000. 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.

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