Asset Management One Co. Ltd. Acquires New Shares in BeOne Medicines Ltd. – Sponsored ADR $ONC

Asset Management One Co. Ltd. bought a new stake in BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 20,453 shares of the company’s stock, valued at approximately $4,951,000.

A number of other institutional investors also recently bought and sold shares of ONC. Farther Finance Advisors LLC bought a new position in BeOne Medicines in the second quarter valued at about $39,000. Signaturefd LLC bought a new position in BeOne Medicines in the second quarter valued at about $49,000. Parallel Advisors LLC bought a new position in BeOne Medicines in the second quarter valued at about $59,000. FNY Investment Advisers LLC bought a new position in BeOne Medicines in the second quarter valued at about $121,000. Finally, Financial Perspectives Inc bought a new position in BeOne Medicines in the second quarter valued at about $142,000. Institutional investors own 48.55% of the company’s stock.

BeOne Medicines Stock Up 0.5%

NASDAQ ONC opened at $316.85 on Wednesday. The company has a quick ratio of 1.72, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. BeOne Medicines Ltd. – Sponsored ADR has a 52 week low of $170.99 and a 52 week high of $355.30. The stock’s 50-day moving average price is $325.52 and its 200-day moving average price is $283.51. The company has a market capitalization of $34.75 billion, a P/E ratio of -183.15 and a beta of 0.31.

BeOne Medicines (NASDAQ:ONC) last released its earnings results 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 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 analysts’ expectations of $1.24 billion. On average, equities research analysts predict that BeOne Medicines Ltd. – Sponsored ADR will post -5.82 earnings per share for the current year.

Insider Activity

In related news, CEO John Oyler sold 27,803 shares of the stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $325.71, for a total transaction of $9,055,715.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Corazon (Corsee) D. Sanders sold 2,665 shares of the stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $337.00, for a total value of $898,105.00. The SEC filing for this sale provides additional information. Insiders have sold a total of 158,264 shares of company stock valued at $49,742,557 in the last three months. 6.62% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ONC has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their target price on BeOne Medicines from $345.00 to $385.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of BeOne Medicines in a report on Wednesday, October 8th. Zacks Research raised BeOne Medicines from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 18th. Guggenheim raised their price objective on BeOne Medicines from $350.00 to $365.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. Finally, Wall Street Zen raised BeOne Medicines from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $345.60.

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.