Jackson Square Capital LLC bought a new stake in shares of BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC – Free Report) in the 3rd quarter, HoldingsChannel reports. The fund bought 1,415 shares of the company’s stock, valued at approximately $518,000.
A number of other hedge funds also recently made changes to their positions in the business. Bank of America Corp DE boosted its holdings in shares of BeOne Medicines by 7.0% in 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. increased its holdings in BeOne Medicines by 5.5% during the second quarter. Baird Financial Group Inc. now owns 368,978 shares of the company’s stock worth $105,148,000 after buying an additional 19,327 shares during the last quarter. Candriam S.C.A. raised its position in BeOne Medicines by 31.7% in the first quarter. Candriam S.C.A. now owns 259,731 shares of the company’s stock worth $77,132,000 after acquiring an additional 62,470 shares during the period. First Trust Advisors LP raised its position in BeOne Medicines by 91.9% in the first quarter. First Trust Advisors LP now owns 241,426 shares of the company’s stock worth $71,696,000 after acquiring an additional 115,601 shares during the period. Finally, Jennison Associates LLC boosted its stake in 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 last quarter. 48.55% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts have recently weighed in on the stock. Nomura raised shares of BeOne Medicines to a “strong-buy” rating in a research report on Monday, July 27th. Truist Financial lifted their price target on shares of BeOne Medicines from $418.00 to $420.00 and gave the stock a “buy” rating in a report on Wednesday, October 7th. Citizens Jmp upped their price objective on BeOne Medicines from $396.00 to $405.00 and gave the company a “market outperform” rating in a research note on Thursday, August 6th. Wall Street Zen upgraded BeOne Medicines from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 18th. Finally, JPMorgan Chase & Co. increased their price objective on BeOne Medicines from $425.00 to $445.00 and gave the company an “overweight” rating in a report on Thursday, October 1st. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $407.07.
View Our Latest Analysis on BeOne Medicines
Insider Buying and Selling at BeOne Medicines
In other news, CFO Aaron Rosenberg sold 1,157 shares of BeOne Medicines stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $312.71, for a total value of $361,805.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Xiaodong Wang sold 38,287 shares of the business’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $349.10, for a total transaction of $13,365,991.70. Following the completion of the sale, the insider directly owned 6,079 shares in the company, valued at approximately $2,122,178.90. This trade represents a 86.30% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 408,943 shares of company stock worth $143,789,644 over the last three months. Company insiders own 6.19% of the company’s stock.
BeOne Medicines Stock Performance
ONC traded up $2.29 during trading hours on Monday, hitting $371.35. The stock had a trading volume of 148,331 shares, compared to its average volume of 308,491. BeOne Medicines Ltd. – Sponsored ADR has a 1 year low of $253.95 and a 1 year high of $385.22. The company’s fifty day simple moving average is $360.42 and its 200 day simple moving average is $321.92. The stock has a market cap of $40.77 billion, a PE ratio of 65.33 and a beta of 0.61. The company has a quick ratio of 3.06, a current ratio of 3.40 and a debt-to-equity ratio of 0.17.
BeOne Medicines (NASDAQ:ONC – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $2.05 EPS for the quarter, beating the consensus estimate of $1.40 by $0.65. The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.66 billion. BeOne Medicines had a net margin of 10.70% and a return on equity of 14.23%. Equities analysts anticipate that BeOne Medicines Ltd. – Sponsored ADR will post 8.99 earnings per share for the current year.
BeOne Medicines Profile
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.
Featured Stories
- Five stocks we like better than BeOne Medicines
- Alcoa Beat Earnings, But Can It Escape the Aluminum Bears?
- Insider Buying Is Rising at These 3 Regional Banks, But the Details Matter
- Illinois Tool Works Faces Headwinds—2 Alternatives Stand Out
- Luxury’s Middle Market Is Cracking—These 3 Stocks Could Win
Want to see what other hedge funds are holding ONC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC – Free Report).
Receive News & Ratings for BeOne Medicines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BeOne Medicines and related companies with MarketBeat.com's FREE daily email newsletter.
