Franklin Resources Inc. Purchases Shares of 16,254 BeOne Medicines Ltd. – Sponsored ADR $ONC

Franklin Resources Inc. purchased a new position in shares of BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 16,254 shares of the company’s stock, valued at approximately $3,935,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd acquired a new position in BeOne Medicines during the second quarter worth $28,000. Farther Finance Advisors LLC acquired a new stake in BeOne Medicines in the second quarter valued at $39,000. Signaturefd LLC bought a new position in shares of BeOne Medicines in the 2nd quarter valued at about $49,000. Parallel Advisors LLC acquired a new position in shares of BeOne Medicines during the 2nd quarter worth about $59,000. Finally, FNY Investment Advisers LLC bought a new stake in shares of BeOne Medicines in the 2nd quarter valued at about $121,000. 48.55% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ONC has been the subject of a number of research analyst reports. Royal Bank Of Canada lifted their price target on BeOne Medicines from $395.00 to $408.00 and gave the stock an “outperform” rating in a report on Tuesday, November 18th. Guggenheim raised their price objective on BeOne Medicines from $350.00 to $365.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Truist Financial set a $400.00 target price on BeOne Medicines in a report on Monday, November 24th. Zacks Research downgraded BeOne Medicines from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 28th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $420.00 price objective on shares of BeOne Medicines in a report on Monday, November 17th. Twelve analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $365.79.

BeOne Medicines Stock Performance

Shares of NASDAQ ONC opened at $330.18 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.39 and a quick ratio of 2.17. The firm has a market cap of $39.14 billion, a price-to-earnings ratio of 647.41 and a beta of 0.45. The stock’s fifty day moving average price is $332.69 and its two-hundred day moving average price is $301.18. BeOne Medicines Ltd. – Sponsored ADR has a one year low of $170.99 and a one year high of $385.22.

Insider Buying and Selling at BeOne Medicines

In other news, COO Xiaobin Wu sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $356.02, for a total transaction of $3,560,200.00. Following the transaction, the chief operating officer directly owned 6,009 shares of the company’s stock, valued at approximately $2,139,324.18. This trade represents a 62.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John Oyler sold 27,803 shares of the business’s stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $325.71, for a total value of $9,055,715.13. The disclosure for this sale is available in the SEC filing. Insiders sold 83,759 shares of company stock valued at $28,827,266 in the last quarter. Company 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.