Baird Financial Group Inc. Raises Position in BeOne Medicines Ltd. - Sponsored ADR $ONC

Key Points

• Baird Financial Group increased its BeOne Medicines stake by 5.5% in the second quarter, bringing its holdings to 368,978 shares valued at approximately $105.1 million. Institutional investors collectively own 48.55% of the company.
• BeOne Medicines reported stronger-than-expected quarterly results, with EPS of $2.05 versus the $1.40 consensus and revenue of $1.71 billion compared with expectations of $1.66 billion.
• Wall Street remains broadly optimistic: analysts maintain an average “Buy” rating and a $402.14 target price, above the reported share price of $351.48. However, insiders have sold 579,683 shares worth roughly $190.5 million over the past three months.

Baird Financial Group Inc. boosted its holdings in BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Free Report) by 5.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 368,978 shares of the company's stock after purchasing an additional 19,327 shares during the period. Baird Financial Group Inc. owned approximately 0.34% of BeOne Medicines worth $105,148,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. EFG International AG bought a new stake in BeOne Medicines in the 4th quarter worth $25,000. Leonteq Securities AG purchased a new position in shares of BeOne Medicines during the fourth quarter valued at approximately $35,000. Daiwa Securities Group Inc. purchased a new position in shares of BeOne Medicines during the second quarter valued at approximately $35,000. CWM LLC raised its holdings in shares of BeOne Medicines by 32.8% during the fourth quarter. CWM LLC now owns 158 shares of the company's stock valued at $48,000 after acquiring an additional 39 shares in the last quarter. Finally, Group One Trading LLC bought a new position in shares of BeOne Medicines during the fourth quarter valued at approximately $61,000. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

BeOne Medicines Stock Down 1.9%

NASDAQ:ONC opened at $351.48 on Wednesday. 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 firm's 50-day moving average price is $336.64 and its 200-day moving average price is $311.42. The company has a market capitalization of $38.59 billion, a PE ratio of 61.88 and a beta of 0.51. BeOne Medicines Ltd. - Sponsored ADR has a 1-year low of $253.95 and a 1-year high of $385.22.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.40 by $0.65. BeOne Medicines had a net margin of 10.70% and a return on equity of 14.23%. The company had revenue of $1.71 billion during the quarter, compared to analysts' expectations of $1.66 billion. On average, equities analysts predict that BeOne Medicines Ltd. - Sponsored ADR will post 8.81 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ONC has been the topic of several recent analyst reports. Citizens Jmp lifted their price target on shares of BeOne Medicines from $396.00 to $405.00 and gave the company a "market outperform" rating in a report on Thursday, August 6th. Wall Street Zen upgraded shares of BeOne Medicines from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 18th. Morgan Stanley reaffirmed an "overweight" rating on shares of BeOne Medicines in a research report on Thursday, August 6th. Leerink Partners lifted their target price on shares of BeOne Medicines from $364.00 to $367.00 and gave the company an "outperform" rating in a research note on Friday, May 15th. Finally, JPMorgan Chase & Co. boosted their price target on shares of BeOne Medicines from $415.00 to $425.00 and gave the company an "overweight" rating in a research report on Thursday, July 23rd. Three investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $402.14.

Insider Buying and Selling

In other BeOne Medicines news, SVP Chan Lee sold 2,666 shares of the business's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $360.00, for a total value of $959,760.00. Following the sale, the senior vice president directly owned 812 shares of the company's stock, valued at approximately $292,320. The trade was a 76.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Xiaobin Wu sold 280 shares of the business's stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $380.00, for a total value of $106,400.00. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 579,683 shares of company stock worth $190,541,846 over the last three months. Corporate insiders own 6.19% of the company's stock.

About BeOne Medicines

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.

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