Alessandro Riva Sells 212 Shares of BeOne Medicines (NASDAQ:ONC) Stock

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) Director Alessandro Riva sold 212 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $309.51, for a total value of $65,616.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 Trading Down 0.8%

ONC traded down $2.43 during trading on Wednesday, hitting $300.01. 159,041 shares of the stock were exchanged, compared to its average volume of 252,436. 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 firm has a 50 day simple moving average of $301.85 and a 200 day simple moving average of $321.12. The firm has a market cap of $32.92 billion, a price-to-earnings ratio of 67.12 and a beta of 0.50. BeOne Medicines Ltd. – Sponsored ADR has a 1 year low of $235.57 and a 1 year high of $385.22.

BeOne Medicines (NASDAQ:ONC) last posted its quarterly earnings results on Wednesday, April 1st. The company reported $0.25 earnings per share (EPS) for the quarter. The business had revenue of $1.51 billion for the quarter. BeOne Medicines had a return on equity of 12.06% and a net margin of 8.94%. As a group, equities analysts expect that BeOne Medicines Ltd. – Sponsored ADR will post 5.65 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ONC shares. Wolfe Research initiated coverage on shares of BeOne Medicines in a report on Friday, March 27th. They set an “outperform” rating and a $340.00 price objective on the stock. Barclays increased their target price on BeOne Medicines from $405.00 to $409.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Jefferies Financial Group downgraded BeOne Medicines from a “buy” rating to a “hold” rating and cut their price target for the company from $420.00 to $290.00 in a report on Monday, March 16th. Truist Financial reissued a “buy” rating and issued a $413.00 price target (up from $411.00) on shares of BeOne Medicines in a research report on Thursday, May 7th. Finally, Guggenheim raised their price objective on BeOne Medicines from $410.00 to $420.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $389.15.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ONC. EFG International AG acquired a new stake in shares of BeOne Medicines during the fourth quarter worth $25,000. Leonteq Securities AG purchased a new position in BeOne Medicines in the 4th quarter worth $35,000. Daiwa Securities Group Inc. purchased a new position in BeOne Medicines in the 2nd quarter worth $35,000. CWM LLC lifted its position in BeOne Medicines by 32.8% during the 4th quarter. CWM LLC now owns 158 shares of the company’s stock worth $48,000 after acquiring an additional 39 shares during the period. Finally, Group One Trading LLC acquired a new stake in BeOne Medicines during the 4th quarter worth about $61,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.

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.