Insider Selling: BeOne Medicines (NASDAQ:ONC) COO Sells 1,292 Shares of Stock

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) COO Xiaobin Wu sold 1,292 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $276.26, for a total value of $356,927.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Xiaobin Wu also recently made the following trade(s):

• On Tuesday, June 16th, Xiaobin Wu sold 1,357 shares of BeOne Medicines stock. The stock was sold at an average price of $266.76, for a total value of $361,993.32.
• On Thursday, June 11th, Xiaobin Wu sold 626 shares of BeOne Medicines stock. The stock was sold at an average price of $261.20, for a total value of $163,511.20.
• On Monday, June 8th, Xiaobin Wu sold 1,484 shares of BeOne Medicines stock. The shares were sold at an average price of $269.37, for a total value of $399,745.08.

BeOne Medicines Stock Down 0.6%

BeOne Medicines stock traded down $1.78 during mid-day trading on Thursday, hitting $275.34. The company had a trading volume of 231,751 shares, compared to its average volume of 260,107. The company has a quick ratio of 3.27, a current ratio of 3.64 and a debt-to-equity ratio of 0.20. BeOne Medicines Ltd. – Sponsored ADR has a 1 year low of $239.25 and a 1 year high of $385.22. The business has a fifty day moving average of $293.24 and a 200 day moving average of $310.76. The stock has a market cap of $30.21 billion, a price-to-earnings ratio of 61.60 and a beta of 0.49.

BeOne Medicines (NASDAQ:ONC) last issued its earnings results on Wednesday, April 1st. The company reported $0.25 earnings per share (EPS) for the quarter. BeOne Medicines had a net margin of 8.94% and a return on equity of 12.06%. The business had revenue of $1.51 billion during the quarter. On average, sell-side analysts expect that BeOne Medicines Ltd. – Sponsored ADR will post 6.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BeOne Medicines

Institutional investors and hedge funds have recently made changes to their positions in the business. Cetera Investment Advisers acquired a new stake in shares of BeOne Medicines during the second quarter worth about $455,000. Rhumbline Advisers acquired a new position in BeOne Medicines in the 2nd quarter valued at about $275,000. Arrowstreet Capital Limited Partnership purchased a new stake in BeOne Medicines during the 2nd quarter valued at approximately $505,000. Invesco Ltd. purchased a new stake in BeOne Medicines during the 2nd quarter valued at approximately $422,000. Finally, EverSource Wealth Advisors LLC acquired a new stake in BeOne Medicines during the 2nd quarter worth approximately $68,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Morgan Stanley restated an “overweight” rating and issued a $395.00 price objective on shares of BeOne Medicines in a research note on Thursday, May 7th. Wells Fargo & Company assumed coverage on BeOne Medicines in a report on Monday, May 4th. They issued an “overweight” rating and a $400.00 target price for the company. Guggenheim upped their target price on BeOne Medicines from $410.00 to $420.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Barclays raised their price target on BeOne Medicines from $405.00 to $409.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Finally, Jefferies Financial Group lowered BeOne Medicines from a “buy” rating to a “hold” rating and cut their price target for the stock from $420.00 to $290.00 in a research report on Monday, March 16th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, BeOne Medicines has an average rating of “Moderate Buy” and an average target price 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.