BeOne Medicines (NASDAQ:ONC) Shares Gap Down After Earnings Miss

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) gapped down before the market opened on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $352.23, but opened at $328.62. BeOne Medicines shares last traded at $324.44, with a volume of 102,751 shares changing hands.

The company reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $1.60 by ($1.02). BeOne Medicines had a net margin of 1.38% and a return on equity of 5.52%.

Wall Street Analyst Weigh In

Several analysts have issued reports on ONC shares. Morgan Stanley restated an “overweight” rating and set a $405.00 price target on shares of BeOne Medicines in a research report on Thursday, January 8th. Barclays raised their price target on shares of BeOne Medicines from $385.00 to $394.00 and gave the stock an “overweight” rating in a report on Wednesday, February 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BeOne Medicines in a research report on Wednesday, January 21st. Truist Financial set a $400.00 target price on BeOne Medicines in a research report on Monday, November 24th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $420.00 target price on shares of BeOne Medicines in a research note on Monday, November 17th. Thirteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $382.77.

Insider Buying and Selling

In other news, SVP Chan Henry Lee sold 1,660 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $349.52, for a total transaction of $580,203.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John Oyler sold 24,369 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $302.87, for a total transaction of $7,380,639.03. The SEC filing for this sale provides additional information. Insiders sold 102,656 shares of company stock valued at $31,567,496 over the last quarter. Company insiders own 6.62% of the company’s stock.

Institutional Investors Weigh In On BeOne Medicines

A number of institutional investors have recently bought and sold shares of the business. Capital International Investors increased its holdings in shares of BeOne Medicines by 1.3% in the fourth quarter. Capital International Investors now owns 5,113,866 shares of the company’s stock worth $1,553,909,000 after purchasing an additional 67,808 shares during the last quarter. Primecap Management Co. CA purchased a new stake in BeOne Medicines during the second quarter valued at $1,231,720,000. Temasek Holdings Private Ltd bought a new position in BeOne Medicines during the second quarter valued at $244,603,000. Siren L.L.C. grew its stake in shares of BeOne Medicines by 1.4% in the 4th quarter. Siren L.L.C. now owns 500,000 shares of the company’s stock worth $151,905,000 after buying an additional 7,010 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of BeOne Medicines in the 2nd quarter worth about $113,190,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.

BeOne Medicines Price Performance

The stock has a market capitalization of $35.35 billion, a PE ratio of 632.10 and a beta of 0.52. The company has a current ratio of 2.39, a quick ratio of 2.17 and a debt-to-equity ratio of 0.03. The firm’s 50-day moving average price is $336.79 and its 200-day moving average price is $330.22.

BeOne Medicines Company Profile

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.