BeOne Medicines (NASDAQ:ONC) Stock Price Down 6.2% - Here's Why

Key Points

• Stock down 6.2% — BeOne Medicines shares fell about 6.2% to $289.26 on Thursday with only 65,370 shares trading, roughly 76% below the average session volume.
• Quarterly earnings miss — The company reported EPS of $0.58 versus analysts' $1.60 estimate (a $1.02 miss) while revenue beat at $1.50 billion; analysts as a group now expect a -5.82 EPS for the current year.
• Analyst sentiment remains mostly positive — Eleven analysts rate the stock a Buy (average price target $385.08) and several firms recently raised targets, including RBC to $425.00.

BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Get Free Report) fell 6.2% during trading on Thursday . The stock traded as low as $306.33 and last traded at $289.26. 65,370 shares were traded during mid-day trading, a decline of 76% from the average session volume of 270,212 shares. The stock had previously closed at $308.44.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Guggenheim increased their price objective on BeOne Medicines from $400.00 to $410.00 and gave the company a "buy" rating in a research report on Friday, February 27th. Morgan Stanley reissued an "overweight" rating and issued a $405.00 price target on shares of BeOne Medicines in a report on Thursday, January 8th. Sanford C. Bernstein upgraded shares of BeOne Medicines from a "hold" rating to an "outperform" rating and set a $414.00 target price for the company in a research note on Monday, January 12th. Wall Street Zen lowered BeOne Medicines from a "strong-buy" rating to a "buy" rating in a research note on Saturday, February 28th. Finally, Royal Bank Of Canada raised their price objective on BeOne Medicines from $417.00 to $425.00 and gave the stock an "outperform" rating in a research report on Thursday, February 26th. Eleven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, BeOne Medicines currently has an average rating of "Moderate Buy" and an average price target of $385.08.

BeOne Medicines Stock Performance

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 firm has a market cap of $34.14 billion, a P/E ratio of 123.47 and a beta of 0.53. The stock's 50 day moving average is $321.43 and its two-hundred day moving average is $326.13.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last announced its quarterly earnings results on Thursday, February 26th. The company reported $0.58 EPS for the quarter, missing analysts' consensus estimates of $1.60 by ($1.02). BeOne Medicines had a return on equity of 10.70% and a net margin of 5.37%.The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.45 billion. As a group, equities analysts predict that BeOne Medicines Ltd. - Sponsored ADR will post -5.82 EPS for the current year.

Insider Activity at BeOne Medicines

In related news, SVP Chan Henry Lee sold 1,660 shares of the business's stock in a transaction on 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 document filed with the SEC, which is accessible through this link. In the last ninety days, insiders sold 2,665 shares of company stock worth $902,792. 6.62% of the stock is owned by company insiders.

Institutional Investors Weigh In On BeOne Medicines

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

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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