BeOne Medicines (NASDAQ:ONC) Insider Sells $11,262,233.16 in Stock

Key Points

• BeOne Medicines insider Xiaodong Wang sold 31,028 shares for approximately $11.26 million at an average price of $362.97 under a pre-arranged Rule 10b5-1 plan, reducing his ownership by 50%.
• ONC shares recently traded at $371.56, with the company valued at about $40.79 billion. BeOne Medicines exceeded quarterly expectations, reporting $2.05 in EPS versus a $1.40 consensus estimate and $1.71 billion in revenue.
• Analyst sentiment remains positive, with a “Moderate Buy” consensus and an average price target of $412.26; institutional investors own approximately 48.55% of the company.

BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Get Free Report) insider Xiaodong Wang sold 31,028 shares of BeOne Medicines stock in a transaction dated Tuesday, October 27th. The stock was sold at an average price of $362.97, for a total value of $11,262,233.16. Following the sale, the insider directly owned 31,028 shares of the company's stock, valued at $11,262,233.16. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Xiaodong Wang also recently made the following trade(s):

• On Tuesday, October 13th, Xiaodong Wang sold 31,027 shares of BeOne Medicines stock. The stock was sold at an average price of $350.99, for a total transaction of $10,890,166.73.
• On Monday, September 28th, Xiaodong Wang sold 31,028 shares of BeOne Medicines stock. The shares were sold at an average price of $364.79, for a total transaction of $11,318,704.12.
• On Tuesday, September 8th, Xiaodong Wang sold 38,287 shares of BeOne Medicines stock. The stock was sold at an average price of $349.10, for a total value of $13,365,991.70.

BeOne Medicines Stock Performance

Shares of ONC traded down $1.80 during midday trading on Thursday, reaching $371.56. 268,139 shares of the stock were exchanged, compared to its average volume of 312,146. The business's 50-day moving average price is $363.23 and its 200 day moving average price is $325.09. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.40 and a quick ratio of 3.06. BeOne Medicines Ltd. - Sponsored ADR has a twelve month low of $253.95 and a twelve month high of $388.66. The company has a market capitalization of $40.79 billion, a price-to-earnings ratio of 65.42 and a beta of 0.61.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.40 by $0.65. The firm had revenue of $1.71 billion during 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, sell-side analysts expect that BeOne Medicines Ltd. - Sponsored ADR will post 8.99 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ONC has been the subject of several research reports. Guggenheim upped their price target on shares of BeOne Medicines from $420.00 to $430.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Citigroup reissued an "outperform" rating on shares of BeOne Medicines in a research report on Thursday, August 6th. Wall Street Zen upgraded shares of BeOne Medicines from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 18th. Morgan Stanley reaffirmed an "overweight" rating and issued a $425.00 target price on shares of BeOne Medicines in a report on Friday, October 16th. Finally, Weiss Ratings upgraded shares of BeOne Medicines from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, BeOne Medicines presently has an average rating of "Moderate Buy" and an average target price of $412.26.

Institutional Investors Weigh In On BeOne Medicines

Large investors have recently modified their holdings of the stock. Bank of America Corp DE raised its holdings in BeOne Medicines by 7.0% during the first quarter. Bank of America Corp DE now owns 405,273 shares of the company's stock worth $120,354,000 after purchasing an additional 26,441 shares in the last quarter. Baird Financial Group Inc. boosted its stake in shares of BeOne Medicines by 5.5% in the second quarter. Baird Financial Group Inc. now owns 368,978 shares of the company's stock valued at $105,148,000 after buying an additional 19,327 shares in the last quarter. Candriam S.C.A. grew its holdings in BeOne Medicines by 31.7% during the first quarter. Candriam S.C.A. now owns 259,731 shares of the company's stock worth $77,132,000 after acquiring an additional 62,470 shares during the period. First Trust Advisors LP grew its holdings in BeOne Medicines by 91.9% during the first quarter. First Trust Advisors LP now owns 241,426 shares of the company's stock worth $71,696,000 after acquiring an additional 115,601 shares during the period. Finally, Jennison Associates LLC raised its position in BeOne Medicines by 102.1% in the first quarter. Jennison Associates LLC now owns 154,465 shares of the company's stock worth $45,871,000 after acquiring an additional 78,027 shares in the last quarter. Hedge funds and other institutional investors own 48.55% of the company's stock.

BeOne Medicines Company Profile

BeOne Medicines Ltd. is a global oncology company focused on discovering, developing, manufacturing and commercializing medicines for cancer patients. Formerly known as BeiGene, the company operates an integrated biotechnology platform spanning research, clinical development, regulatory activities and commercial operations.

Its portfolio includes BRUKINSA (zanubrutinib), a Bruton's tyrosine kinase inhibitor used in the treatment of several blood cancers, and TEVIMBRA (tislelizumab), an anti-PD-1 immunotherapy approved in multiple markets for certain cancers.

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