BeOne Medicines (NASDAQ:ONC) Insider Sells 1,559 Shares of Stock

Key Points

• Insider Titus Ball sold 1,559 shares at an average of $405.57, totaling about $632,284. The sale reduced his direct stake by 63.92%, to 880 shares.
• BeOne reported quarterly EPS of $3.64, beating the $2.34 analyst consensus, and revenue of $1.89 billion versus estimates of $1.76 billion.
• Shares rose 1.6% to $424. Analysts maintain a consensus “Buy” rating with an average price target of $436.92.

BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Get Free Report) insider Titus Ball sold 1,559 shares of BeOne Medicines stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $405.57, for a total transaction of $632,283.63. Following the completion of the transaction, the insider directly owned 880 shares in the company, valued at approximately $356,901.60. The trade was a 63.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

BeOne Medicines Stock Up 1.6%

Shares of BeOne Medicines stock traded up $6.67 on Tuesday, hitting $424.00. The company had a trading volume of 599,340 shares, compared to its average volume of 322,789. The stock has a 50-day moving average of $364.50 and a 200-day moving average of $326.72. 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 $424.73. The firm has a market capitalization of $46.55 billion, a P/E ratio of 53.88 and a beta of 0.63.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last issued its quarterly earnings data on Thursday, November 5th. The company reported $3.64 EPS for the quarter, topping analysts' consensus estimates of $2.34 by $1.30. BeOne Medicines had a net margin of 10.70% and a return on equity of 14.23%. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.76 billion. Research analysts predict that BeOne Medicines Ltd. - Sponsored ADR will post 8.99 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its stake in shares of BeOne Medicines by 39.5% during the 3rd quarter. GAMMA Investing LLC now owns 120 shares of the company's stock worth $44,000 after purchasing an additional 34 shares during the last quarter. Mather Group LLC. lifted its stake in BeOne Medicines by 192.0% in the 3rd quarter. Mather Group LLC. now owns 73 shares of the company's stock valued at $27,000 after purchasing an additional 48 shares during the last quarter. Signaturefd LLC lifted its stake in BeOne Medicines by 13.4% in the 3rd quarter. Signaturefd LLC now owns 414 shares of the company's stock valued at $152,000 after purchasing an additional 49 shares during the last quarter. Steadtrust LLC lifted its stake in BeOne Medicines by 3.7% in the 2nd quarter. Steadtrust LLC now owns 1,400 shares of the company's stock valued at $399,000 after purchasing an additional 50 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in BeOne Medicines by 16.4% during the first quarter. EverSource Wealth Advisors LLC now owns 369 shares of the company's stock worth $110,000 after purchasing an additional 52 shares during the period. Institutional investors and hedge funds own 48.55% of the company's stock.

Analysts Set New Price Targets

ONC has been the topic of several recent research reports. Wells Fargo & Company lifted their price target on BeOne Medicines from $400.00 to $435.00 and gave the company an "overweight" rating in a research note on Friday. Citizens Jmp upped their price objective on BeOne Medicines from $405.00 to $463.00 and gave the stock a "market outperform" rating in a research report on Friday. Wolfe Research reaffirmed an "outperform" rating and set a $370.00 price objective on shares of BeOne Medicines in a research report on Monday, August 10th. Nomura increased their price objective on BeOne Medicines from $454.75 to $484.91 and gave the stock a "buy" rating in a report on Thursday, August 6th. Finally, TD Cowen lifted their target price on BeOne Medicines from $424.00 to $454.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, BeOne Medicines currently has a consensus rating of "Buy" and a consensus target price of $436.92.

BeOne Medicines Company Profile

BeOne Medicines, formerly known as BeiGene, is a global biotechnology company focused on discovering, developing, manufacturing and commercializing cancer medicines. Founded in Beijing in 2010, the company has expanded its research and commercial operations across multiple regions, including the United States, Europe and Asia. Its marketed products include Brukinsa (zanubrutinib), a targeted therapy for certain blood cancers, and Tevimbra (tislelizumab), an immunotherapy used to treat several types of cancer.

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