Assetmark Inc. Increases Stock Position in BeOne Medicines Ltd. – Sponsored ADR $ONC

Assetmark Inc. lifted its holdings in shares of BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) by 8.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,814 shares of the company’s stock after buying an additional 1,833 shares during the quarter. Assetmark Inc.’s holdings in BeOne Medicines were worth $7,539,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ONC. Cetera Investment Advisers purchased a new stake in shares of BeOne Medicines during the 2nd quarter valued at approximately $455,000. Rhumbline Advisers bought a new stake in BeOne Medicines during the 2nd quarter worth approximately $275,000. Arrowstreet Capital Limited Partnership bought a new stake in BeOne Medicines during the 2nd quarter worth approximately $505,000. Invesco Ltd. bought a new stake in BeOne Medicines during the 2nd quarter worth approximately $422,000. Finally, EverSource Wealth Advisors LLC bought a new stake in BeOne Medicines during the 2nd quarter worth approximately $68,000. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Chan Henry Lee sold 1,660 shares of BeOne Medicines stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $349.52, for a total transaction of $580,203.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 2,333 shares of company stock worth $785,951 in the last 90 days. 6.62% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ONC. Barclays upped their target price on shares of BeOne Medicines from $394.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, February 27th. Wall Street Zen lowered shares of BeOne Medicines from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 28th. Royal Bank Of Canada increased their price target on shares of BeOne Medicines from $417.00 to $425.00 and gave the stock an “outperform” rating in a report on Thursday, February 26th. Jefferies Financial Group lowered shares of BeOne Medicines from a “buy” rating to a “hold” rating and decreased their price target for the stock from $420.00 to $290.00 in a report on Monday, March 16th. Finally, Wolfe Research began coverage on shares of BeOne Medicines in a report on Friday, March 27th. They issued an “outperform” rating and a $340.00 price target on the stock. Eleven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $385.08.

BeOne Medicines Price Performance

Shares of NASDAQ ONC opened at $323.87 on Friday. BeOne Medicines Ltd. – Sponsored ADR has a 1 year low of $218.31 and a 1 year high of $385.22. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.41 and a quick ratio of 3.08. The company’s 50-day moving average is $313.56 and its 200 day moving average is $324.49. The stock has a market capitalization of $35.54 billion, a P/E ratio of 128.52 and a beta of 0.53.

BeOne Medicines (NASDAQ:ONC) last announced its quarterly earnings results on Thursday, February 26th. The company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.60 by ($1.02). BeOne Medicines had a net margin of 5.37% and a return on equity of 10.70%. The company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.45 billion. On average, sell-side analysts expect that BeOne Medicines Ltd. – Sponsored ADR will post -5.82 earnings per share for the current year.

BeOne Medicines 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. The company was founded by Xiao Dong Wang and John V. Oyler on October 28, 2010 and is headquartered in Basel, Switzerland.