Barings LLC Reduces Position in BeOne Medicines Ltd. - Sponsored ADR $ONC

Key Points

• Barings LLC cut its stake in BeOne Medicines by 23% in the fourth quarter, selling 12,789 shares and ending with 42,815 shares valued at about $13.0 million.
• The stock traded down 1.3% and was at $260.27, with a market cap of $28.56 billion and a 52-week range of $239.25 to $385.22.
• Analyst sentiment remains mostly positive: the consensus rating is Moderate Buy with an average price target of $390, though Jefferies recently downgraded the stock to hold and cut its target to $290.

Barings LLC lowered its holdings in shares of BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Free Report) by 23.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 42,815 shares of the company's stock after selling 12,789 shares during the quarter. Barings LLC's holdings in BeOne Medicines were worth $13,008,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Leonteq Securities AG purchased a new stake in BeOne Medicines in the 4th quarter valued at about $35,000. Daiwa Securities Group Inc. purchased a new stake in shares of BeOne Medicines in the 2nd quarter worth $35,000. CWM LLC lifted its holdings in shares of BeOne Medicines by 32.8% in the 4th quarter. CWM LLC now owns 158 shares of the company's stock worth $48,000 after buying an additional 39 shares during the period. Group One Trading LLC purchased a new stake in shares of BeOne Medicines in the 4th quarter worth $61,000. Finally, Farther Finance Advisors LLC lifted its holdings in shares of BeOne Medicines by 21.8% in the 4th quarter. Farther Finance Advisors LLC now owns 218 shares of the company's stock worth $66,000 after buying an additional 39 shares during the period. Hedge funds and other institutional investors own 48.55% of the company's stock.

BeOne Medicines Trading Down 1.3%

NASDAQ:ONC opened at $260.27 on Friday. BeOne Medicines Ltd. - Sponsored ADR has a 52 week low of $239.25 and a 52 week high of $385.22. The firm has a 50 day moving average of $300.30 and a 200 day moving average of $314.98. The company has a quick ratio of 3.27, a current ratio of 3.64 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $28.56 billion, a price-to-earnings ratio of 58.23 and a beta of 0.49.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last posted its earnings results on Wednesday, April 1st. The company reported $0.25 EPS for the quarter. BeOne Medicines had a net margin of 8.94% and a return on equity of 12.06%. The company had revenue of $1.51 billion during the quarter. As a group, sell-side analysts anticipate that BeOne Medicines Ltd. - Sponsored ADR will post 6.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Jefferies Financial Group cut BeOne Medicines from a "buy" rating to a "hold" rating and lowered their target price for the stock from $420.00 to $290.00 in a report on Monday, March 16th. Wolfe Research initiated coverage on shares of BeOne Medicines in a research report on Friday, March 27th. They issued an "outperform" rating and a $340.00 price target for the company. Zacks Research raised shares of BeOne Medicines from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 4th. Royal Bank Of Canada upped their price target on shares of BeOne Medicines from $425.00 to $436.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 2nd. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $395.00 price target on shares of BeOne Medicines in a research report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $390.00.

Insiders Place Their Bets

In other BeOne Medicines news, Director Corazon (Corsee) D. Sanders sold 212 shares of the firm's stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $309.59, for a total transaction of $65,633.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Lai Wang sold 1,367 shares of the firm's stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $269.38, for a total transaction of $368,242.46. Following the transaction, the insider directly owned 40 shares of the company's stock, valued at $10,775.20. This represents a 97.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 10,098 shares of company stock valued at $2,780,482. 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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