BeOne Medicines (NASDAQ:ONC) COO Sells $399,745.08 in Stock

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) COO Xiaobin Wu sold 1,484 shares of BeOne Medicines stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $269.37, for a total value of $399,745.08. Following the transaction, the chief operating officer owned 40 shares in the company, valued at approximately $10,774.80. The trade was a 97.38% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

BeOne Medicines Stock Performance

Shares of BeOne Medicines stock opened at $264.48 on Friday. BeOne Medicines Ltd. – Sponsored ADR has a one year low of $239.25 and a one year high of $385.22. The company has a market cap of $29.02 billion, a price-to-earnings ratio of 59.17 and a beta of 0.49. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.27 and a current ratio of 3.64. The business’s 50 day moving average price is $299.42 and its 200 day moving average price is $314.63.

BeOne Medicines (NASDAQ:ONC) last announced its quarterly earnings data on Wednesday, April 1st. The company reported $0.25 EPS for the quarter. BeOne Medicines had a return on equity of 12.06% and a net margin of 8.94%.The firm had revenue of $1.51 billion for the quarter. On average, research analysts predict that BeOne Medicines Ltd. – Sponsored ADR will post 6.14 EPS for the current year.

Institutional Investors Weigh In On BeOne Medicines

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE increased its stake in BeOne Medicines by 7.0% during 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 during the last quarter. ADAR1 Capital Management LLC acquired a new stake in BeOne Medicines during the first quarter worth $3,475,000. EverSource Wealth Advisors LLC increased its stake 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 acquiring an additional 52 shares during the last quarter. Royal Bank of Canada increased its stake in BeOne Medicines by 3.5% during the first quarter. Royal Bank of Canada now owns 70,391 shares of the company’s stock worth $20,905,000 after acquiring an additional 2,399 shares during the last quarter. Finally, Rokos Capital Management LLP acquired a new stake in shares of BeOne Medicines in the first quarter valued at $4,256,000. Institutional investors and hedge funds own 48.55% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on ONC. Jefferies Financial Group downgraded BeOne Medicines from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $420.00 to $290.00 in a research report on Monday, March 16th. Barclays raised their target price on BeOne Medicines from $405.00 to $409.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Guggenheim raised their target price on BeOne Medicines from $410.00 to $420.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Wells Fargo & Company assumed coverage on BeOne Medicines in a research note on Monday, May 4th. They set an “overweight” rating and a $400.00 target price for the company. Finally, Leerink Partners raised their target price on BeOne Medicines from $364.00 to $367.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, BeOne Medicines has a consensus rating of “Moderate Buy” and an average price target of $390.00.

BeOne Medicines Company Profile

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.