BeOne Medicines (NASDAQ:ONC) Share Price Crosses Above 50 Day Moving Average – What’s Next?

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC)’s share price crossed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $362.57 and traded as high as $383.00. BeOne Medicines shares last traded at $377.78, with a volume of 630,091 shares.

Analysts Set New Price Targets

Several equities analysts have commented on ONC shares. Citigroup reissued an “outperform” rating on shares of BeOne Medicines in a research report on Thursday, August 6th. TD Cowen upped their price objective on BeOne Medicines from $424.00 to $454.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Morgan Stanley reiterated an “overweight” rating and issued a $425.00 price objective on shares of BeOne Medicines in a research note on Friday, October 16th. Citizens Jmp lifted their target price on BeOne Medicines from $396.00 to $405.00 and gave the company a “market outperform” rating in a report on Thursday, August 6th. Finally, Truist Financial boosted their target price on BeOne Medicines from $418.00 to $420.00 and gave the stock a “buy” rating in a research note on Wednesday, October 7th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $412.26.

BeOne Medicines Trading Up 6.4%

The company has a market cap of $41.48 billion, a price-to-earnings ratio of 66.51 and a beta of 0.63. 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 business’s fifty day simple moving average is $362.57 and its two-hundred day simple moving average is $325.73.

BeOne Medicines (NASDAQ:ONC) last issued its earnings results on Thursday, November 5th. The company reported $3.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.34 by $1.30. BeOne Medicines had a net margin of 10.70% and a return on equity of 14.23%. On average, equities analysts predict that BeOne Medicines Ltd. – Sponsored ADR will post 8.99 EPS for the current year.

Insider Transactions at BeOne Medicines

In other BeOne Medicines news, insider Xiaodong Wang sold 31,028 shares of the company’s stock in a transaction on Tuesday, October 27th. The shares were sold at an average price of $362.97, for a total value of $11,262,233.16. Following the completion of the transaction, the insider owned 31,028 shares in the company, valued at $11,262,233.16. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John Oyler sold 54,892 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $358.15, for a total value of $19,659,569.80. Following the transaction, the chief executive officer directly owned 240,743 shares in the company, valued at approximately $86,222,105.45. The trade was a 18.57% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 376,373 shares of company stock valued at $134,848,154 over the last quarter. 6.19% of the stock is owned by corporate insiders.

Institutional Trading of BeOne Medicines

A number of large investors have recently made changes to their positions in ONC. Bank of America Corp DE grew its stake in BeOne Medicines by 7.0% during the 1st quarter. Bank of America Corp DE now owns 405,273 shares of the company’s stock worth $120,354,000 after buying an additional 26,441 shares during the last quarter. Baird Financial Group Inc. lifted its stake in BeOne Medicines by 5.5% in the second quarter. Baird Financial Group Inc. now owns 368,978 shares of the company’s stock valued at $105,148,000 after buying an additional 19,327 shares during the last quarter. Candriam S.C.A. lifted its stake in BeOne Medicines by 31.7% in the first quarter. Candriam S.C.A. now owns 259,731 shares of the company’s stock valued at $77,132,000 after buying an additional 62,470 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of BeOne Medicines by 91.9% in the first 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 during the period. Finally, Jennison Associates LLC boosted its holdings in shares of BeOne Medicines by 102.1% in the first quarter. Jennison Associates LLC now owns 154,465 shares of the company’s stock valued at $45,871,000 after acquiring an additional 78,027 shares during the period. 48.55% of the stock is owned by institutional investors and hedge funds.

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.