BeOne Medicines (NASDAQ:ONC) Insider Sells $632,283.63 in Stock

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) insider Titus Ball sold 1,559 shares of the stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $405.57, for a total value of $632,283.63. Following the sale, the insider owned 880 shares of the company’s stock, valued at approximately $356,901.60. The trade was a 63.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

BeOne Medicines Stock Performance

ONC opened at $415.96 on Friday. The firm has a market capitalization of $45.67 billion, a P/E ratio of 51.03 and a beta of 0.63. The stock’s 50 day moving average price is $368.10 and its two-hundred day moving average price is $327.94. The company has a quick ratio of 3.19, a current ratio of 3.55 and a debt-to-equity ratio of 0.14. BeOne Medicines Ltd. – Sponsored ADR has a 12-month low of $253.95 and a 12-month high of $424.73.

BeOne Medicines (NASDAQ:ONC) last issued its quarterly earnings results on Thursday, November 5th. The company reported $3.64 EPS for the quarter, topping the consensus estimate of $2.34 by $1.30. BeOne Medicines had a return on equity of 19.04% and a net margin of 13.86%. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.76 billion. On average, equities analysts forecast that BeOne Medicines Ltd. – Sponsored ADR will post 8.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ONC has been the topic of several research analyst reports. 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. Royal Bank Of Canada increased their price target on shares of BeOne Medicines from $459.00 to $465.00 and gave the company an “outperform” rating in a report on Friday, November 6th. Wall Street Zen raised shares of BeOne Medicines from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 18th. Wells Fargo & Company raised their price target on shares of BeOne Medicines from $400.00 to $435.00 and gave the stock an “overweight” rating in a research report on Friday, November 6th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of BeOne Medicines from $425.00 to $445.00 and gave the stock an “overweight” rating in a report on Thursday, October 1st. 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, the company presently has a consensus rating of “Buy” and a consensus target price of $436.92.

Institutional Trading of BeOne Medicines

A number of hedge funds have recently modified their holdings of the company. Mather Group LLC. grew its holdings in shares of BeOne Medicines by 192.0% during the 3rd quarter. Mather Group LLC. now owns 73 shares of the company’s stock worth $27,000 after purchasing an additional 48 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of BeOne Medicines by 39.5% in the third quarter. GAMMA Investing LLC now owns 120 shares of the company’s stock valued at $44,000 after purchasing an additional 34 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of BeOne Medicines by 24.0% in the first quarter. Parallel Advisors LLC now owns 351 shares of the company’s stock valued at $104,000 after purchasing an additional 68 shares in the last quarter. Provenance Wealth Advisors LLC acquired a new position in shares of BeOne Medicines in the third quarter valued at $106,000. Finally, Knights of Columbus Asset Advisors LLC acquired a new position in shares of BeOne Medicines in the third quarter valued at $106,000. Institutional investors own 48.55% of the company’s stock.

About BeOne Medicines

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.