Baird Financial Group Inc. Invests $82.90 Million in BeOne Medicines Ltd. – Sponsored ADR $ONC

Baird Financial Group Inc. acquired a new stake in BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 342,442 shares of the company’s stock, valued at approximately $82,895,000. Baird Financial Group Inc. owned about 0.31% of BeOne Medicines at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd purchased a new stake in shares of BeOne Medicines in the second quarter valued at about $28,000. Farther Finance Advisors LLC purchased a new position in shares of BeOne Medicines during the 2nd quarter worth approximately $39,000. Signaturefd LLC acquired a new position in shares of BeOne Medicines during the 2nd quarter worth approximately $49,000. Parallel Advisors LLC purchased a new stake in BeOne Medicines in the 2nd quarter valued at approximately $59,000. Finally, EverSource Wealth Advisors LLC acquired a new stake in BeOne Medicines during the 2nd quarter valued at $68,000. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Morgan Stanley raised their price target on BeOne Medicines from $350.00 to $383.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Zacks Research cut BeOne Medicines from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 28th. Truist Financial set a $400.00 target price on shares of BeOne Medicines in a research note on Monday, November 24th. JPMorgan Chase & Co. raised their price target on shares of BeOne Medicines from $345.00 to $385.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. Finally, Citigroup boosted their price objective on shares of BeOne Medicines from $399.00 to $405.00 and gave the company a “buy” rating in a research report on Monday, November 10th. Twelve investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, BeOne Medicines presently has a consensus rating of “Moderate Buy” and a consensus target price of $365.79.

BeOne Medicines Trading Down 1.9%

Shares of ONC stock opened at $331.40 on Friday. The firm’s 50-day simple moving average is $332.91 and its 200-day simple moving average is $301.64. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.39 and a quick ratio of 2.17. BeOne Medicines Ltd. – Sponsored ADR has a 1-year low of $170.99 and a 1-year high of $385.22. The firm has a market cap of $39.28 billion, a P/E ratio of 649.80 and a beta of 0.45.

Insider Activity at BeOne Medicines

In other BeOne Medicines news, SVP Chan Henry Lee sold 10,671 shares of BeOne Medicines stock in a transaction 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 document filed with the SEC, which is available at the SEC website. Also, Director Corazon (Corsee) D. Sanders sold 2,627 shares of the business’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $340.90, for a total transaction of $895,544.30. The SEC filing for this sale provides additional information. Insiders have sold a total of 81,094 shares of company stock valued at $27,929,161 over the last 90 days. 6.62% of the stock is currently owned by insiders.

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.