BeOne Medicines (NASDAQ:ONC) Issues Earnings Results

BeOne Medicines (NASDAQ:ONC) released its earnings results on Thursday. The company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.60 by ($1.02), Zacks reports. BeOne Medicines had a net margin of 1.38% and a return on equity of 5.52%.

BeOne Medicines Stock Performance

NASDAQ ONC traded down $31.99 during trading on Thursday, reaching $320.24. The company’s stock had a trading volume of 538,536 shares, compared to its average volume of 278,816. The firm has a market capitalization of $35.12 billion, a price-to-earnings ratio of 627.92 and a beta of 0.52. The firm has a 50 day moving average price of $336.49 and a 200 day moving average price of $330.27. BeOne Medicines has a 12 month low of $196.45 and a 12 month high of $385.22. The company has a current ratio of 2.39, a quick ratio of 2.17 and a debt-to-equity ratio of 0.03.

Insider Buying and Selling at BeOne Medicines

In related news, CEO John Oyler sold 24,369 shares of the stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $302.87, for a total value of $7,380,639.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Chan Henry Lee sold 1,660 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $349.52, for a total transaction of $580,203.20. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 102,656 shares of company stock worth $31,567,496. 6.62% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BeOne Medicines

A number of hedge funds and other institutional investors have recently modified their holdings of ONC. Vise Technologies Inc. lifted its stake in BeOne Medicines by 18.5% in the fourth quarter. Vise Technologies Inc. now owns 924 shares of the company’s stock worth $281,000 after acquiring an additional 144 shares during the last quarter. Rhumbline Advisers acquired a new position in BeOne Medicines in the 2nd quarter valued at $275,000. Mariner LLC raised its stake in shares of BeOne Medicines by 3.8% during the 4th quarter. Mariner LLC now owns 883 shares of the company’s stock worth $269,000 after buying an additional 32 shares in the last quarter. Cibc World Market Inc. lifted its stake in shares of BeOne Medicines by 10.2% in the fourth quarter. Cibc World Market Inc. now owns 823 shares of the company’s stock valued at $250,000 after purchasing an additional 76 shares during the period. Finally, Cresset Asset Management LLC purchased a new stake in BeOne Medicines during the second quarter worth $231,000. Institutional investors own 48.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Jefferies Financial Group reaffirmed a “buy” rating and set a $420.00 price target on shares of BeOne Medicines in a research note on Monday, November 17th. Weiss Ratings restated a “sell (d-)” rating on shares of BeOne Medicines in a research note on Wednesday, January 21st. Truist Financial set a $400.00 target price on BeOne Medicines in a report on Monday, November 24th. Barclays raised their price objective on BeOne Medicines from $385.00 to $394.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 4th. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of BeOne Medicines in a report on Wednesday, December 17th. Thirteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $381.46.

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.