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

BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Get Free Report)'s share price gapped down before the market opened on Friday . The stock had previously closed at $254.49, but opened at $245.51. BeOne Medicines shares last traded at $242.81, with a volume of 52,203 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ONC shares. TD Securities reissued a "buy" rating and issued a $334.00 price objective on shares of BeOne Medicines in a research note on Thursday, April 24th. Morgan Stanley raised their price objective on BeOne Medicines from $313.00 to $330.00 and gave the company an "overweight" rating in a research report on Friday. Guggenheim boosted their target price on shares of BeOne Medicines from $348.00 to $350.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Wall Street Zen upgraded shares of BeOne Medicines from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Finally, Bank of America raised shares of BeOne Medicines from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $207.00 to $320.00 in a report on Monday, March 3rd. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $320.67.

BeOne Medicines Price Performance

The company has a quick ratio of 1.71, a current ratio of 1.96 and a debt-to-equity ratio of 0.05. The company's fifty day simple moving average is $247.90. The company has a market capitalization of $26.53 billion, a PE ratio of -65.07 and a beta of 0.30.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.71) by $1.93. The firm had revenue of $1.12 billion during the quarter, compared to analysts' expectations of $1.12 billion. BeOne Medicines had a negative return on equity of 7.55% and a negative net margin of 9.40%. As a group, equities research analysts anticipate that BeOne Medicines Ltd. - Sponsored ADR will post -5.82 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other BeOne Medicines news, CEO John Oyler sold 3,174 shares of the stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $261.61, for a total transaction of $830,350.14. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Xiaobin Wu sold 1,363 shares of the business's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $260.00, for a total value of $354,380.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 203,452 shares of company stock worth $51,856,379. Company insiders own 6.62% 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.