Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC – Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 32,335 shares of the company’s stock, valued at approximately $11,833,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ONC. Bank of America Corp DE lifted its holdings in shares of BeOne Medicines by 7.0% during the 1st quarter. Bank of America Corp DE now owns 405,273 shares of the company’s stock valued at $120,354,000 after purchasing an additional 26,441 shares during the last quarter. Baird Financial Group Inc. raised its position in shares of BeOne Medicines by 5.5% during the 2nd quarter. Baird Financial Group Inc. now owns 368,978 shares of the company’s stock worth $105,148,000 after purchasing an additional 19,327 shares during the last quarter. Candriam S.C.A. raised its position in shares of 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 increased its stake in shares of BeOne Medicines by 91.9% in the 1st 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 last quarter. Finally, Jennison Associates LLC raised its position 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 purchasing an additional 78,027 shares during the period. Institutional investors own 48.55% of the company’s stock.
BeOne Medicines Stock Performance
Shares of NASDAQ:ONC opened at $377.78 on Thursday. The business has a 50-day moving average price of $362.57 and a two-hundred day moving average price of $325.73. BeOne Medicines Ltd. – Sponsored ADR has a 1-year low of $253.95 and a 1-year high of $388.66. The stock has a market capitalization of $41.48 billion, a P/E ratio of 66.51 and a beta of 0.63. The company has a current ratio of 3.40, a quick ratio of 3.06 and a debt-to-equity ratio of 0.17.
BeOne Medicines (NASDAQ:ONC – Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.65. The company had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.66 billion. BeOne Medicines had a return on equity of 14.23% and a net margin of 10.70%. Equities analysts predict that BeOne Medicines Ltd. – Sponsored ADR will post 8.99 earnings per share for the current year.
Insider Activity
In other news, SVP Chan Lee sold 1,115 shares of the business’s stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $375.00, for a total value of $418,125.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Titus B. Ball sold 132 shares of the firm’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $355.86, for a total transaction of $46,973.52. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 376,373 shares of company stock valued at $134,848,154. Corporate insiders own 6.19% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on the company. Guggenheim raised their price target on BeOne Medicines from $420.00 to $430.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Zacks Research lowered shares of BeOne Medicines from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. Wolfe Research restated an “outperform” rating and set a $370.00 price objective on shares of BeOne Medicines in a research note on Monday, August 10th. Citizens Jmp lifted their price objective on shares of BeOne Medicines from $396.00 to $405.00 and gave the stock a “market outperform” rating in a report on Thursday, August 6th. Finally, JPMorgan Chase & Co. upped their price target on shares of BeOne Medicines from $425.00 to $445.00 and gave the stock an “overweight” rating in a research report on Thursday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, BeOne Medicines has a consensus rating of “Moderate Buy” and an average target price of $412.26.
Read Our Latest Report on BeOne Medicines
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.
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