Avanza Fonder AB purchased 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 filing with the Securities and Exchange Commission. The fund purchased 823 shares of the company's stock, valued at approximately $199,000.
Several other hedge funds have also bought and sold shares of ONC. Farther Finance Advisors LLC purchased a new stake in BeOne Medicines in the 2nd quarter worth $39,000. Parallel Advisors LLC purchased a new stake in BeOne Medicines in the 2nd quarter worth $59,000. Finally, Aaron Wealth Advisors LLC purchased a new stake in BeOne Medicines in the 2nd quarter worth $200,000. Hedge funds and other institutional investors own 48.55% of the company's stock.
Insider Transactions at BeOne Medicines
In other news, insider Titus B. Ball sold 122 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $326.76, for a total value of $39,864.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Lai Wang sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $350.06, for a total transaction of $1,750,300.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 181,315 shares of company stock worth $54,839,498. Insiders own 6.62% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of BeOne Medicines from $321.00 to $345.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Wall Street Zen lowered BeOne Medicines from a "strong-buy" rating to a "buy" rating in a research report on Friday, September 5th. Morgan Stanley lifted their price target on BeOne Medicines from $313.00 to $330.00 and gave the stock an "overweight" rating in a research report on Friday, June 27th. Guggenheim lifted their price target on BeOne Medicines from $350.00 to $365.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Finally, Royal Bank Of Canada lifted their price target on BeOne Medicines from $349.00 to $364.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $336.30.
Check Out Our Latest Stock Analysis on BeOne Medicines
BeOne Medicines Price Performance
Shares of ONC stock opened at $337.82 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.72. The company has a market capitalization of $37.05 billion, a P/E ratio of -195.27 and a beta of 0.21. The company's 50-day simple moving average is $310.42 and its two-hundred day simple moving average is $268.97. BeOne Medicines Ltd. - Sponsored ADR has a one year low of $170.99 and a one year high of $351.27.
BeOne Medicines (NASDAQ:ONC - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.84 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.36. BeOne Medicines had a negative net margin of 3.89% and a negative return on equity of 1.22%. The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.24 billion. As a group, equities analysts anticipate that BeOne Medicines Ltd. - Sponsored ADR will post -5.82 EPS for the current year.
About BeOne Medicines
(
Free Report)
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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Want to see what other hedge funds are holding ONC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Free Report).
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