BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC) CFO Aaron Rosenberg Sells 1,190 Shares

Key Points

• BeOne Medicines Ltd. CFO Aaron Rosenberg sold 1,190 shares at an average price of $290.47, totaling approximately $345,659, as disclosed in an SEC filing.
• Following the sale, BeOne Medicines stock traded at $307.23, with notable trading activity of 521,638 shares compared to its average volume of 438,676.
• Analysts have set new price targets for BeOne Medicines, with Guggenheim raising its target to $350.00 and Royal Bank of Canada adjusting theirs to $349.00, while the average target price is now $327.56.

BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Get Free Report) CFO Aaron Rosenberg sold 1,190 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $290.47, for a total value of $345,659.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

BeOne Medicines Trading Down 3.2%

Shares of ONC stock traded down $9.64 during trading hours on Friday, reaching $288.65. 271,326 shares of the company's stock were exchanged, compared to its average volume of 437,931. The business's 50 day moving average price is $267.79. The stock has a market cap of $31.64 billion, a P/E ratio of -166.85 and a beta of 0.27. The company has a current ratio of 1.96, a quick ratio of 1.71 and a debt-to-equity ratio of 0.05. BeOne Medicines Ltd. - Sponsored ADR has a fifty-two week low of $170.99 and a fifty-two week high of $313.29.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.36. BeOne Medicines had a negative return on equity of 1.25% and a negative net margin of 3.89%. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.24 billion. Equities analysts anticipate that BeOne Medicines Ltd. - Sponsored ADR will post -5.82 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of BeOne Medicines during the second quarter worth about $73,347,000. Candriam S.C.A. purchased a new position in shares of BeOne Medicines during the second quarter worth about $67,852,000. M&G PLC purchased a new position in shares of BeOne Medicines during the second quarter worth about $41,189,000. Envestnet Asset Management Inc. purchased a new position in shares of BeOne Medicines during the second quarter worth about $15,061,000. Finally, Geode Capital Management LLC purchased a new position in shares of BeOne Medicines during the second quarter worth about $8,622,000. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. JPMorgan Chase & Co. lifted their price objective on BeOne Medicines from $321.00 to $345.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. TD Securities reaffirmed a "buy" rating and issued a $334.00 price objective on shares of BeOne Medicines in a research report on Thursday, April 24th. Royal Bank Of Canada lifted their target price on BeOne Medicines from $349.00 to $364.00 and gave the company an "outperform" rating in a research report on Thursday. Guggenheim raised their price objective on BeOne Medicines from $350.00 to $365.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Morgan Stanley raised their price objective on shares of BeOne Medicines from $313.00 to $330.00 and gave the stock an "overweight" rating in a research note on Friday, June 27th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, BeOne Medicines presently has an average rating of "Buy" and an average price target of $330.89.

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.