5,362 Shares in BeOne Medicines Ltd. – Sponsored ADR $ONC Purchased by EFG Asset Management North America Corp.

EFG Asset Management North America Corp. purchased a new position in BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,362 shares of the company’s stock, valued at approximately $1,298,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Envestnet Asset Management Inc. purchased a new stake in BeOne Medicines in the second quarter worth $15,061,000. Oppenheimer Asset Management Inc. bought a new stake in BeOne Medicines during the 2nd quarter valued at about $7,150,000. Asset Management One Co. Ltd. purchased a new stake in BeOne Medicines in the 2nd quarter valued at about $4,951,000. Slow Capital Inc. bought a new position in BeOne Medicines in the 2nd quarter worth about $4,377,000. Finally, Public Employees Retirement System of Ohio bought a new position in BeOne Medicines in the 2nd quarter worth about $3,491,000. 48.55% of the stock is owned by institutional investors.

BeOne Medicines Trading Up 3.9%

Shares of NASDAQ ONC opened at $321.39 on Thursday. BeOne Medicines Ltd. – Sponsored ADR has a 1-year low of $170.99 and a 1-year high of $355.30. The business has a fifty day moving average price of $325.95 and a 200 day moving average price of $286.82. The stock has a market capitalization of $35.24 billion, a P/E ratio of -185.77 and a beta of 0.31. 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 (NASDAQ:ONC) last posted its earnings results on Wednesday, August 6th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.36. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.24 billion. BeOne Medicines had a negative return on equity of 1.22% and a negative net margin of 3.89%. Equities research analysts expect that BeOne Medicines Ltd. – Sponsored ADR will post -5.82 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on ONC. Wall Street Zen raised shares of BeOne Medicines from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BeOne Medicines in a research report on Wednesday, October 8th. Guggenheim upped 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. raised their price target on BeOne Medicines from $345.00 to $385.00 and gave the company an “overweight” rating in a research note on Wednesday, October 8th. Finally, Zacks Research downgraded BeOne Medicines from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 28th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, BeOne Medicines presently has an average rating of “Moderate Buy” and an average target price of $345.60.

Insiders Place Their Bets

In other news, SVP Chan Henry Lee sold 10,671 shares of BeOne Medicines stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $350.40, for a total value of $3,739,118.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Corazon (Corsee) D. Sanders sold 2,665 shares of the stock in a transaction that occurred 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. In the last ninety days, insiders sold 157,074 shares of company stock worth $49,396,898. Insiders own 6.62% of the company’s stock.

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.