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

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 302,999 shares of the company’s stock, valued at approximately $73,347,000. Connor Clark & Lunn Investment Management Ltd. owned 0.28% of BeOne Medicines as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Parallel Advisors LLC acquired a new position in BeOne Medicines during the second quarter worth about $59,000. Aaron Wealth Advisors LLC bought a new position in shares of BeOne Medicines during the 2nd quarter valued at about $200,000. Farther Finance Advisors LLC acquired a new position in shares of BeOne Medicines in the 2nd quarter worth approximately $39,000. Avanza Fonder AB bought a new stake in shares of BeOne Medicines in the 2nd quarter worth approximately $199,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in BeOne Medicines during the second quarter valued at approximately $3,491,000. Institutional investors own 48.55% of the company’s stock.

Analyst Upgrades and Downgrades

ONC has been the topic of several recent research reports. Guggenheim lifted their price target on shares of BeOne Medicines from $350.00 to $365.00 and gave the stock a “buy” rating in a research 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BeOne Medicines in a research report on Wednesday, October 8th. Citizens Jmp upped their target price on BeOne Medicines from $348.00 to $396.00 and gave the company a “market outperform” rating in a report on Friday. Finally, Barclays started coverage on BeOne Medicines in a research note on Thursday, September 18th. They issued an “overweight” rating and a $385.00 price target on the stock. Nine investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, BeOne Medicines currently has a consensus rating of “Moderate Buy” and a consensus price target of $353.00.

Insider Buying and Selling

In other BeOne Medicines news, insider Lai Wang sold 5,000 shares of BeOne Medicines stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $350.06, for a total transaction of $1,750,300.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Corazon (Corsee) D. Sanders sold 2,665 shares of the business’s stock in a transaction on Friday, September 5th. The shares were sold at an average price of $337.00, for a total transaction of $898,105.00. The disclosure for this sale is available in the SEC filing. Insiders have sold 157,074 shares of company stock worth $49,396,898 over the last ninety days. 6.62% of the stock is currently owned by corporate insiders.

BeOne Medicines Price Performance

ONC opened at $319.97 on Friday. BeOne Medicines Ltd. – Sponsored ADR has a 12-month low of $170.99 and a 12-month high of $355.30. The company has a quick ratio of 1.72, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $35.09 billion, a P/E ratio of 627.39 and a beta of 0.31. The stock has a fifty day moving average of $326.91 and a 200-day moving average of $288.01.

BeOne Medicines (NASDAQ:ONC) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.36. BeOne Medicines had a return on equity of 5.76% and a net margin of 1.38%.The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.24 billion. Equities analysts forecast that BeOne Medicines Ltd. – Sponsored ADR will post -5.82 EPS for the current fiscal 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.