Asset Management One Co. Ltd. Purchases Shares of 20,453 BeOne Medicines Ltd. – Sponsored ADR $ONC

Asset Management One Co. Ltd. purchased a new stake in shares of BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 20,453 shares of the company’s stock, valued at approximately $4,951,000.

Several other institutional investors have also added to or reduced their stakes in ONC. Farther Finance Advisors LLC purchased a new position in BeOne Medicines during the 2nd quarter valued at approximately $39,000. Signaturefd LLC purchased a new position in BeOne Medicines during the 2nd quarter valued at approximately $49,000. Parallel Advisors LLC purchased a new position in BeOne Medicines during the 2nd quarter valued at approximately $59,000. FNY Investment Advisers LLC purchased a new position in BeOne Medicines during the 2nd quarter valued at approximately $121,000. Finally, Financial Perspectives Inc purchased a new position in BeOne Medicines during the 2nd quarter valued at approximately $142,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.

BeOne Medicines Price Performance

Shares of BeOne Medicines stock opened at $316.85 on Wednesday. BeOne Medicines Ltd. – Sponsored ADR has a one year low of $170.99 and a one year high of $355.30. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.72 and a current ratio of 1.95. The stock has a market cap of $34.75 billion, a price-to-earnings ratio of -183.15 and a beta of 0.31. The stock has a 50 day moving average price of $325.52 and a 200-day moving average price of $283.51.

BeOne Medicines (NASDAQ:ONC) last issued its quarterly 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 negative return on equity of 1.22% and a negative net margin of 3.89%.The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.24 billion. Equities analysts expect that BeOne Medicines Ltd. – Sponsored ADR will post -5.82 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ONC. Wall Street Zen upgraded BeOne Medicines from a “buy” rating to a “strong-buy” rating in a report on Friday, October 3rd. Morgan Stanley lifted their target price on BeOne Medicines from $350.00 to $383.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Guggenheim lifted their target price on BeOne Medicines from $350.00 to $365.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. JPMorgan Chase & Co. lifted their target price on BeOne Medicines from $345.00 to $385.00 and gave the stock an “overweight” rating in a report on Wednesday, October 8th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of BeOne Medicines in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $345.60.

Insider Activity

In related news, CEO John Oyler sold 27,803 shares of the firm’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $325.71, for a total transaction of $9,055,715.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Chan Henry Lee sold 10,671 shares of the firm’s stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $350.40, for a total value of $3,739,118.40. The SEC filing for this sale provides additional information. Insiders sold 158,264 shares of company stock worth $49,742,557 in the last three months. Corporate insiders own 6.62% of the company’s stock.

About BeOne Medicines

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.