BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC – Get Free Report) shares reached a new 52-week high on Wednesday. The stock traded as high as $386.87 and last traded at $386.2450, with a volume of 61,766 shares traded. The stock had previously closed at $384.50.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on BeOne Medicines from $425.00 to $445.00 and gave the stock an “overweight” rating in a report on Thursday, October 1st. Weiss Ratings upgraded BeOne Medicines from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Truist Financial boosted their price objective on BeOne Medicines from $418.00 to $420.00 and gave the stock a “buy” rating in a research note on Wednesday, October 7th. Zacks Research cut BeOne Medicines from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. Finally, Citigroup restated an “outperform” rating on shares of BeOne Medicines in a research report on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $407.07.
Get Our Latest Analysis on BeOne Medicines
BeOne Medicines Stock Up 0.6%
The business has a fifty day moving average of $361.14 and a 200 day moving average of $322.97. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.40 and a quick ratio of 3.06. The stock has a market capitalization of $42.45 billion, a price-to-earnings ratio of 67.96 and a beta of 0.61.
BeOne Medicines (NASDAQ:ONC – Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.65. BeOne Medicines had a return on equity of 14.23% and a net margin of 10.70%. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.66 billion. As a group, equities analysts predict that BeOne Medicines Ltd. – Sponsored ADR will post 8.99 earnings per share for the current year.
Insider Transactions at BeOne Medicines
In other BeOne Medicines news, insider Xiaodong Wang sold 31,027 shares of the company’s stock in a transaction dated Tuesday, October 13th. The shares were sold at an average price of $350.99, for a total value of $10,890,166.73. Following the transaction, the insider owned 31,027 shares of the company’s stock, valued at $10,890,166.73. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Titus B. Ball sold 132 shares of the company’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $355.86, for a total transaction of $46,973.52. 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. Insiders sold 347,546 shares of company stock worth $124,285,659 in the last 90 days. Insiders own 6.19% of the company’s stock.
Institutional Investors Weigh In On BeOne Medicines
Institutional investors and hedge funds have recently made changes to their positions in the stock. First Trust Advisors LP grew its position in BeOne Medicines by 91.9% in the 1st quarter. First Trust Advisors LP now owns 241,426 shares of the company’s stock valued at $71,696,000 after acquiring an additional 115,601 shares in the last quarter. Jennison Associates LLC increased its stake in BeOne Medicines by 102.1% during the first quarter. Jennison Associates LLC now owns 154,465 shares of the company’s stock worth $45,871,000 after purchasing an additional 78,027 shares during the period. Renaissance Technologies LLC purchased a new stake in BeOne Medicines during the first quarter worth about $19,438,000. Candriam S.C.A. lifted its position in shares of BeOne Medicines by 31.7% during the first quarter. Candriam S.C.A. now owns 259,731 shares of the company’s stock worth $77,132,000 after purchasing an additional 62,470 shares in the last quarter. Finally, SEB Asset Management AB acquired a new stake in shares of BeOne Medicines during the first quarter worth about $16,653,000. 48.55% of the stock is owned by hedge funds and other institutional investors.
About BeOne Medicines
BeOne Medicines Ltd. is a global oncology company focused on discovering, developing, manufacturing and commercializing medicines for cancer patients. Formerly known as BeiGene, the company operates an integrated biotechnology platform spanning research, clinical development, regulatory activities and commercial operations.
Its portfolio includes BRUKINSA (zanubrutinib), a Bruton’s tyrosine kinase inhibitor used in the treatment of several blood cancers, and TEVIMBRA (tislelizumab), an anti-PD-1 immunotherapy approved in multiple markets for certain cancers.
Featured Articles
- Five stocks we like better than BeOne Medicines
- 2 Steel Giants Just Reported Earnings—and Told Very Different Stories
- Swiping to Record Highs: Why Visa Remains a Fortress
- Salesforce Fuels AI Engine With $5.66B Braze Buyout
- ServiceNow Orchestrates AI’s Next Act—Can Earnings Deliver?
Receive News & Ratings for BeOne Medicines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BeOne Medicines and related companies with MarketBeat.com's FREE daily email newsletter.
