14,420 Shares in BeOne Medicines Ltd. - Sponsored ADR $ONC Bought by Public Employees Retirement System of Ohio

Key Points

• The Public Employees Retirement System of Ohio acquired 14,420 shares in BeOne Medicines Ltd., valued at approximately $3.49 million, as reported in their recent Form 13F filing.
• BeOne Medicines has received multiple upgrade ratings from analysts, with JPMorgan Chase & Co. raising their price target to $345.00 and Zacks Research upgrading the stock to "strong-buy."
• Despite a recent quarterly earnings report showing an EPS of $0.84 against analyst expectations of $0.48, the company has a negative net margin of 3.89% and is projected to post a negative EPS for the current fiscal year.

Public Employees Retirement System of Ohio acquired a new position in BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 14,420 shares of the company's stock, valued at approximately $3,491,000.

Several other institutional investors also recently modified their holdings of the business. Aaron Wealth Advisors LLC bought a new stake in shares of BeOne Medicines in the second quarter worth $200,000. Avanza Fonder AB bought a new stake in shares of BeOne Medicines in the second quarter worth $199,000. Parallel Advisors LLC bought a new stake in shares of BeOne Medicines in the second quarter worth $59,000. Finally, Farther Finance Advisors LLC bought a new stake in shares of BeOne Medicines in the second quarter worth $39,000. Institutional investors own 48.55% of the company's stock.

Insider Activity at BeOne Medicines

In related news, SVP Chan Henry Lee sold 11,013 shares of the firm's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $300.45, for a total value of $3,308,855.85. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Corazon (Corsee) D. Sanders sold 2,665 shares of the firm's stock in a transaction dated 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 can be found here. Over the last ninety days, insiders have sold 181,315 shares of company stock worth $54,839,498. 6.62% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on ONC. JPMorgan Chase & Co. increased their price target on BeOne Medicines from $321.00 to $345.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Zacks Research upgraded BeOne Medicines from a "hold" rating to a "strong-buy" rating in a report on Thursday, September 18th. Royal Bank Of Canada increased their price target on BeOne Medicines from $349.00 to $364.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Wall Street Zen downgraded BeOne Medicines from a "strong-buy" rating to a "buy" rating in a report on Friday, September 5th. Finally, Morgan Stanley increased their price target on BeOne Medicines from $313.00 to $330.00 and gave the stock an "overweight" rating in a report on Friday, June 27th. One analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $336.30.

BeOne Medicines Price Performance

ONC stock opened at $340.70 on Wednesday. The stock has a market capitalization of $37.34 billion, a PE ratio of -196.94 and a beta of 0.21. The company's 50-day moving average is $315.74 and its 200-day moving average is $272.21. 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 Ltd. - Sponsored ADR has a 1 year low of $170.99 and a 1 year high of $351.27.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.48 by $0.36. The company had revenue of $1.32 billion for the quarter, compared to analysts' expectations of $1.24 billion. BeOne Medicines had a negative net margin of 3.89% and a negative return on equity of 1.22%. Equities research analysts expect that BeOne Medicines Ltd. - Sponsored ADR will post -5.82 EPS for the current fiscal 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.

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