Connor Clark & Lunn Investment Management Ltd. Purchases New Position in BeOne Medicines Ltd. – Sponsored ADR $ONC

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 302,999 shares of the company’s stock, valued at approximately $73,347,000.

A number of other institutional investors have also recently added to or reduced their stakes in ONC. Envestnet Asset Management Inc. acquired a new position in shares of BeOne Medicines during the 2nd quarter worth $15,061,000. Oppenheimer Asset Management Inc. acquired a new position in BeOne Medicines during the second quarter worth $7,150,000. Asset Management One Co. Ltd. bought a new position in BeOne Medicines during the second quarter valued at about $4,951,000. Slow Capital Inc. acquired a new stake in shares of BeOne Medicines in the second quarter worth about $4,377,000. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of BeOne Medicines during the 2nd quarter worth about $3,491,000. 48.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Titus B. Ball sold 122 shares of BeOne Medicines stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $326.76, for a total transaction of $39,864.72. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO John Oyler sold 27,803 shares of the company’s stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $325.71, for a total value of $9,055,715.13. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 157,074 shares of company stock worth $49,396,898. 6.62% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ONC has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised their price objective on BeOne Medicines from $345.00 to $385.00 and gave the company an “overweight” rating in a research note on Wednesday, October 8th. Zacks Research lowered shares of BeOne Medicines from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 28th. Royal Bank Of Canada boosted their price objective on shares of BeOne Medicines from $374.00 to $395.00 and gave the stock an “outperform” rating in a research note on Friday. Citizens Jmp raised their target price on shares of BeOne Medicines from $348.00 to $396.00 and gave the company a “market outperform” rating in a research note on Friday. Finally, Barclays began coverage on shares of BeOne Medicines in a report on Thursday, September 18th. They issued an “overweight” rating and a $385.00 target price on the stock. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $353.00.

BeOne Medicines Stock Down 3.7%

ONC opened at $319.97 on Friday. The business has a 50 day moving average of $326.91 and a 200-day moving average of $288.01. The stock has a market capitalization of $35.09 billion, a price-to-earnings ratio of 627.39 and a beta of 0.31. The company has a current ratio of 1.95, a quick ratio of 1.72 and a debt-to-equity ratio of 0.04. BeOne Medicines Ltd. – Sponsored ADR has a 1-year low of $170.99 and a 1-year high of $355.30.

BeOne Medicines (NASDAQ:ONC) last announced its earnings results on Wednesday, August 6th. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.36. BeOne Medicines had a net margin of 1.38% and a return on equity of 5.76%. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.24 billion. As a group, sell-side analysts anticipate that BeOne Medicines Ltd. – Sponsored ADR will post -5.82 earnings per share for the current year.

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.