BeOne Medicines (NASDAQ:ONC) Shares Down 6.2% – Here’s What Happened

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) shares were down 6.2% during trading on Thursday . The stock traded as low as $306.33 and last traded at $289.26. Approximately 65,370 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 270,212 shares. The stock had previously closed at $308.44.

Wall Street Analyst Weigh In

ONC has been the subject of a number of recent analyst reports. Wall Street Zen cut BeOne Medicines from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 28th. Guggenheim increased their target price on BeOne Medicines from $400.00 to $410.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Sanford C. Bernstein upgraded BeOne Medicines from a “hold” rating to an “outperform” rating and set a $414.00 target price for the company in a research note on Monday, January 12th. Truist Financial lifted their price target on BeOne Medicines from $400.00 to $412.00 and gave the company a “buy” rating in a report on Friday, February 27th. Finally, Barclays increased their price objective on shares of BeOne Medicines from $394.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, February 27th. Eleven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, BeOne Medicines currently has an average rating of “Moderate Buy” and a consensus target price of $385.08.

BeOne Medicines Price Performance

The stock has a 50-day simple moving average of $321.43 and a 200 day simple moving average of $326.13. The stock has a market capitalization of $34.14 billion, a P/E ratio of 123.47 and a beta of 0.53. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.08 and a current ratio of 3.41.

BeOne Medicines (NASDAQ:ONC) last released its earnings results on Thursday, February 26th. The company reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $1.60 by ($1.02). The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.45 billion. BeOne Medicines had a return on equity of 10.70% and a net margin of 5.37%. On average, equities analysts forecast that BeOne Medicines Ltd. – Sponsored ADR will post -5.82 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other BeOne Medicines news, SVP Chan Henry Lee sold 341 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $300.00, for a total transaction of $102,300.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last three months, insiders sold 2,665 shares of company stock worth $902,792. Insiders own 6.62% of the company’s stock.

Institutional Investors Weigh In On BeOne Medicines

A number of institutional investors and hedge funds have recently modified their holdings of ONC. Mariner LLC lifted its holdings in BeOne Medicines by 3.8% in the fourth quarter. Mariner LLC now owns 883 shares of the company’s stock valued at $269,000 after buying an additional 32 shares during the period. Signaturefd LLC raised its position in shares of BeOne Medicines by 10.7% during the 4th quarter. Signaturefd LLC now owns 340 shares of the company’s stock valued at $103,000 after acquiring an additional 33 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of BeOne Medicines by 21.8% in the 4th quarter. Farther Finance Advisors LLC now owns 218 shares of the company’s stock valued at $66,000 after purchasing an additional 39 shares during the period. CWM LLC lifted its stake in shares of BeOne Medicines by 32.8% in the 4th quarter. CWM LLC now owns 158 shares of the company’s stock valued at $48,000 after purchasing an additional 39 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its position in shares of BeOne Medicines by 4.1% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,281 shares of the company’s stock worth $436,000 after purchasing an additional 50 shares during the last quarter. 48.55% of the stock is owned by 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.