BeOne Medicines (NASDAQ:ONC) Sees Large Volume Increase – Still a Buy?

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) shares saw unusually-high trading volume on Monday . Approximately 182,550 shares traded hands during trading, a decline of 35% from the previous session’s volume of 281,438 shares.The stock last traded at $359.6170 and had previously closed at $348.27.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ONC shares. Zacks Research downgraded BeOne Medicines from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 3rd. Royal Bank Of Canada cut their target price on BeOne Medicines from $451.00 to $450.00 and set an “outperform” rating for the company in a research note on Thursday. Wolfe Research reiterated an “outperform” rating and set a $370.00 price target on shares of BeOne Medicines in a report on Monday. Truist Financial upped their price objective on shares of BeOne Medicines from $416.00 to $418.00 and gave the company a “buy” rating in a report on Thursday. Finally, Guggenheim raised their price objective on shares of BeOne Medicines from $420.00 to $430.00 and gave the stock a “buy” rating in a research report on Thursday. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $402.14.

BeOne Medicines Price Performance

The company has a quick ratio of 3.06, a current ratio of 3.40 and a debt-to-equity ratio of 0.17. The company has a market cap of $39.39 billion, a PE ratio of 63.20 and a beta of 0.49. The stock has a 50-day simple moving average of $296.52 and a 200 day simple moving average of $308.69.

BeOne Medicines (NASDAQ:ONC) last released its quarterly earnings results on Wednesday, August 5th. The company reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.65. The business had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.66 billion. BeOne Medicines had a return on equity of 14.23% and a net margin of 10.70%. Equities analysts expect that BeOne Medicines Ltd. – Sponsored ADR will post 7.3 EPS for the current year.

Insider Activity

In related news, CEO John Oyler sold 145,861 shares of the stock in a transaction that occurred on Tuesday, July 14th. The shares were sold at an average price of $305.95, for a total transaction of $44,626,172.95. Following the completion of the transaction, the chief executive officer owned 8,122 shares of the company’s stock, valued at approximately $2,484,925.90. This trade represents a 94.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Xiaobin Wu sold 1,484 shares of BeOne Medicines stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $269.37, for a total transaction of $399,745.08. Following the completion of the sale, the chief operating officer owned 40 shares of the company’s stock, valued at $10,774.80. This trade represents a 97.38% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 345,561 shares of company stock valued at $105,625,947. 6.19% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE acquired a new position in BeOne Medicines in the 2nd quarter valued at about $67,657,000. Man Group plc acquired a new position in shares of BeOne Medicines in the second quarter valued at approximately $59,031,000. BNP Paribas Financial Markets purchased a new stake in BeOne Medicines during the 2nd quarter worth approximately $38,337,000. First Trust Advisors LP increased its stake in BeOne Medicines by 91.9% during the 1st quarter. First Trust Advisors LP now owns 241,426 shares of the company’s stock worth $71,696,000 after buying an additional 115,601 shares during the period. Finally, Qube Research & Technologies Ltd acquired a new stake in BeOne Medicines during the 2nd quarter worth approximately $26,034,000. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

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.