BeOne Medicines (NASDAQ:ONC) Shares Down 3.6% Following Insider Selling

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) shares fell 3.6% during mid-day trading on Thursday after an insider sold shares in the company. The stock traded as low as $257.11 and last traded at $257.41. 165,301 shares were traded during mid-day trading, a decline of 63% from the average session volume of 442,271 shares. The stock had previously closed at $267.13.

Specifically, CEO John Oyler sold 3,174 shares of the company’s stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $261.61, for a total value of $830,350.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Xiaodong Wang sold 2,007 shares of the stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $265.50, for a total transaction of $532,858.50. The disclosure for this sale can be found here. In related news, COO Xiaobin Wu sold 1,363 shares of the business’s stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $260.00, for a total value of $354,380.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ONC shares. JPMorgan Chase & Co. lifted their price target on BeOne Medicines from $311.00 to $317.00 and gave the company an “overweight” rating in a report on Monday, April 21st. Bank of America raised BeOne Medicines from a “neutral” rating to a “buy” rating and raised their price objective for the company from $207.00 to $320.00 in a research report on Monday, March 3rd. JMP Securities set a $348.00 price target on shares of BeOne Medicines in a research report on Friday, February 28th. Sanford C. Bernstein set a $259.00 price objective on shares of BeOne Medicines in a research report on Thursday, March 13th. Finally, Macquarie boosted their price objective on shares of BeOne Medicines from $259.00 to $313.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $319.00.

BeOne Medicines Stock Down 4.7%

The firm has a market cap of $27.89 billion, a P/E ratio of -68.41 and a beta of 0.30. The company has a quick ratio of 1.71, a current ratio of 1.96 and a debt-to-equity ratio of 0.05. The business’s 50 day moving average price is $247.69.

BeOne Medicines (NASDAQ:ONC) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.22 EPS for the quarter, beating the consensus estimate of ($0.71) by $1.93. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.12 billion. BeOne Medicines had a negative net margin of 9.40% and a negative return on equity of 7.55%. Equities analysts expect that BeOne Medicines Ltd. – Sponsored ADR will post -5.82 EPS for the current fiscal year.

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.