BeOne Medicines (NASDAQ:ONC) Insider Sells $46,973.52 in Stock

Key Points

• Insider sale: BeOne Medicines insider Titus Ball sold 132 shares for $46,973.52 at an average price of $355.86. The transaction was made to cover tax-withholding obligations tied to vested equity awards.
• Strong quarterly results: The company reported quarterly earnings of $2.05 per share, beating estimates of $1.40, while revenue of $1.71 billion exceeded expectations of $1.66 billion.
• Positive investor outlook: Shares recently traded at $362.68, and analysts maintain a consensus “Buy” rating with an average price target of $402.14. Institutional investors own approximately 48.55% of the company.

BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Get Free Report) insider Titus Ball sold 132 shares of the stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $355.86, for a total transaction of $46,973.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

BeOne Medicines Stock Up 0.2%

Shares of NASDAQ:ONC traded up $0.90 during trading hours on Thursday, hitting $362.68. The company's stock had a trading volume of 123,616 shares, compared to its average volume of 293,283. BeOne Medicines Ltd. - Sponsored ADR has a 52 week low of $253.95 and a 52 week high of $385.22. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.40 and a quick ratio of 3.06. The company has a market capitalization of $39.82 billion, a price-to-earnings ratio of 63.85 and a beta of 0.51. The firm's fifty day moving average price is $330.63 and its 200 day moving average price is $311.25.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $2.05 earnings per share for the quarter, topping the consensus estimate 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 net margin of 10.70% and a return on equity of 14.23%. As a group, research analysts expect that BeOne Medicines Ltd. - Sponsored ADR will post 8.81 EPS for the current year.

Institutional Trading of BeOne Medicines

A number of institutional investors have recently made changes to their positions in the business. Capital International Investors increased its position in BeOne Medicines by 1.3% during the 4th quarter. Capital International Investors now owns 5,113,866 shares of the company's stock valued at $1,553,909,000 after buying an additional 67,808 shares in the last quarter. Siren L.L.C. boosted its holdings in BeOne Medicines by 1.4% in the fourth quarter. Siren L.L.C. now owns 500,000 shares of the company's stock worth $151,905,000 after acquiring an additional 7,010 shares in the last quarter. Morgan Stanley boosted its holdings in BeOne Medicines by 23.9% in the fourth quarter. Morgan Stanley now owns 437,661 shares of the company's stock worth $132,966,000 after acquiring an additional 84,367 shares in the last quarter. Bank of America Corp DE boosted its holdings in BeOne Medicines by 7.0% in the first quarter. Bank of America Corp DE now owns 405,273 shares of the company's stock worth $120,354,000 after acquiring an additional 26,441 shares in the last quarter. Finally, Candriam S.C.A. grew its stake in shares of 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 last quarter. Institutional investors and hedge funds own 48.55% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ONC shares. Leerink Partners boosted their price target on BeOne Medicines from $364.00 to $367.00 and gave the stock an "outperform" rating in a research report on Friday, May 15th. TD Cowen raised their price objective on BeOne Medicines from $424.00 to $454.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. lifted their target price on BeOne Medicines from $415.00 to $425.00 and gave the company an "overweight" rating in a research note on Thursday, July 23rd. Weiss Ratings reiterated a "sell (d-)" rating on shares of BeOne Medicines in a report on Friday, July 17th. Finally, Citizens Jmp raised their price target on shares of BeOne Medicines from $396.00 to $405.00 and gave the company a "market outperform" rating in a report on Thursday, August 6th. Three investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, BeOne Medicines presently has a consensus rating of "Buy" and an average price target of $402.14.

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. 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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