32,335 Shares in BeOne Medicines Ltd. - Sponsored ADR $ONC Purchased by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments opened a BeOne Medicines position in the third quarter, purchasing 32,335 shares valued at approximately $11.8 million. Several other institutional investors also established new positions; institutions own 48.55% of the stock.
• BeOne reported quarterly EPS of $2.05, beating the $1.40 consensus, and revenue of $1.71 billion, above estimates. Analysts have a “Moderate Buy” consensus rating and an average price target of $412.26.
• Company insiders sold 376,373 shares worth approximately $134.8 million over the past 90 days; insiders currently own 6.19% of the stock.

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 32,335 shares of the company's stock, valued at approximately $11,833,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ONC. Sanders Morris Harris LLC acquired a new position in BeOne Medicines in the third quarter valued at approximately $1,134,000. Renaissance Technologies LLC purchased a new position in shares of BeOne Medicines during the 1st quarter valued at $19,438,000. Rokos Capital Management LLP bought a new position in shares of BeOne Medicines in the first quarter worth $4,256,000. Generali Investments Management Co LLC purchased a new position in shares of BeOne Medicines during the 2nd quarter valued at $2,280,000. Finally, SEB Asset Management AB bought a new position in shares of BeOne Medicines in the 1st quarter worth $16,653,000. Institutional investors own 48.55% of the company's stock.

Insider Activity at BeOne Medicines

In other BeOne Medicines news, SVP Chan Lee sold 1,115 shares of the company's stock in a transaction dated Wednesday, September 30th. The stock was sold at an average price of $375.00, for a total value of $418,125.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Xiaobin Wu sold 280 shares of the stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $380.00, for a total value of $106,400.00. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 376,373 shares of company stock worth $134,848,154 over the last 90 days. 6.19% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have weighed in on the company. JPMorgan Chase & Co. lifted their price objective on BeOne Medicines from $425.00 to $445.00 and gave the company an "overweight" rating in a research report on Thursday, October 1st. Guggenheim increased their price objective on shares of BeOne Medicines from $420.00 to $430.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Morgan Stanley restated an "overweight" rating and set a $425.00 target price on shares of BeOne Medicines in a research report on Friday, October 16th. Nomura raised their price target on shares of BeOne Medicines from $454.75 to $484.91 and gave the company a "buy" rating in a report on Thursday, August 6th. Finally, Citizens Jmp upped their target price on BeOne Medicines from $396.00 to $405.00 and gave the stock a "market outperform" rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $412.26.

BeOne Medicines Price Performance

Shares of NASDAQ:ONC opened at $377.78 on Thursday. The stock has a market capitalization of $41.48 billion, a P/E ratio of 66.51 and a beta of 0.63. BeOne Medicines Ltd. - Sponsored ADR has a fifty-two week low of $253.95 and a fifty-two week high of $388.66. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.40 and a quick ratio of 3.06. The business has a 50-day moving average of $362.57 and a two-hundred day moving average of $325.73.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.65. BeOne Medicines had a return on equity of 14.23% and a net margin of 10.70%. The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.66 billion. On average, equities research analysts predict that BeOne Medicines Ltd. - Sponsored ADR will post 8.99 EPS for the current fiscal year.

About BeOne Medicines

BeOne Medicines Ltd. is a global oncology company focused on discovering, developing, manufacturing and commercializing medicines for cancer patients. Formerly known as BeiGene, the company operates an integrated biotechnology platform spanning research, clinical development, regulatory activities and commercial operations.

Its portfolio includes BRUKINSA (zanubrutinib), a Bruton's tyrosine kinase inhibitor used in the treatment of several blood cancers, and TEVIMBRA (tislelizumab), an anti-PD-1 immunotherapy approved in multiple markets for certain cancers.

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