Mirae Asset Global Investments Co. Ltd. Takes $926,000 Position in BeOne Medicines Ltd. – Sponsored ADR $ONC

Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,824 shares of the company’s stock, valued at approximately $926,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. PFG Investments LLC acquired a new position in shares of BeOne Medicines during the second quarter worth approximately $238,000. Janney Montgomery Scott LLC acquired a new position in shares of BeOne Medicines during the second quarter worth approximately $373,000. LVW Advisors LLC acquired a new position in shares of BeOne Medicines during the second quarter worth approximately $247,000. Signaturefd LLC acquired a new position in shares of BeOne Medicines during the second quarter worth approximately $49,000. Finally, Perigon Wealth Management LLC acquired a new position in shares of BeOne Medicines during the second quarter worth approximately $581,000. 48.55% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Corazon (Corsee) D. Sanders sold 2,665 shares of the stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $337.00, for a total value of $898,105.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Titus B. Ball sold 122 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $326.76, for a total transaction of $39,864.72. The disclosure for this sale can be found here. Insiders have sold 153,513 shares of company stock valued at $47,795,028 in the last quarter. 6.62% of the stock is currently owned by insiders.

BeOne Medicines Stock Down 4.4%

ONC stock opened at $335.80 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.72. BeOne Medicines Ltd. – Sponsored ADR has a 52-week low of $170.99 and a 52-week high of $355.30. The company has a 50-day moving average of $322.00 and a two-hundred day moving average of $276.10. The stock has a market capitalization of $36.80 billion, a price-to-earnings ratio of -194.10 and a beta of 0.31.

BeOne Medicines (NASDAQ:ONC) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.36. BeOne Medicines had a negative net margin of 3.89% and a negative return on equity of 1.22%. The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.24 billion. As a group, equities research analysts anticipate that BeOne Medicines Ltd. – Sponsored ADR will post -5.82 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ONC. Zacks Research upgraded BeOne Medicines from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 18th. Wall Street Zen upgraded BeOne Medicines from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 3rd. Guggenheim upped their target price on BeOne Medicines from $350.00 to $365.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Morgan Stanley upped their target price on BeOne Medicines from $313.00 to $330.00 and gave the stock an “overweight” rating in a research report on Friday, June 27th. Finally, Royal Bank Of Canada upped their target price on BeOne Medicines from $349.00 to $364.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $340.30.

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.