BeOne Medicines Ltd. - Sponsored ADR $ONC Shares Bought by First Trust Advisors LP

Key Points

• First Trust Advisors LP increased its stake in BeOne Medicines by 91.9% in the first quarter, ending with 241,426 shares valued at about $71.7 million.
• Several other institutional investors also boosted or initiated positions, and hedge funds and institutions now own 48.55% of the company’s stock.
• Analysts remain bullish on ONC: JPMorgan raised its price target to $425 and reiterated an overweight rating, while the consensus rating is Moderate Buy with an average target of $394.

First Trust Advisors LP raised its stake in shares of BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Free Report) by 91.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 241,426 shares of the company's stock after purchasing an additional 115,601 shares during the period. First Trust Advisors LP owned 0.22% of BeOne Medicines worth $71,696,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. BNP Paribas Financial Markets lifted its stake in BeOne Medicines by 100.6% in the 4th quarter. BNP Paribas Financial Markets now owns 193,951 shares of the company's stock valued at $58,924,000 after buying an additional 97,244 shares in the last quarter. Capital International Sarl raised its holdings in shares of BeOne Medicines by 2.7% during the fourth quarter. Capital International Sarl now owns 152,515 shares of the company's stock valued at $46,336,000 after acquiring an additional 3,956 shares during the last quarter. Slow Capital Inc. boosted its stake in shares of BeOne Medicines by 51.5% in the fourth quarter. Slow Capital Inc. now owns 27,301 shares of the company's stock worth $8,294,000 after acquiring an additional 9,280 shares during the last quarter. SEB Asset Management AB purchased a new stake in shares of BeOne Medicines during the first quarter worth approximately $16,653,000. Finally, Capital International Investors raised its stake in BeOne Medicines by 1.3% in the 4th quarter. Capital International Investors now owns 5,113,866 shares of the company's stock valued at $1,553,909,000 after purchasing an additional 67,808 shares during the last quarter. Hedge funds and other institutional investors own 48.55% of the company's stock.

Insiders Place Their Bets

In related news, COO Xiaobin Wu sold 1,292 shares of the business's stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $276.26, for a total value of $356,927.92. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Chan Henry Lee sold 664 shares of the company's stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $302.46, for a total transaction of $200,833.44. Following the completion of the transaction, the senior vice president directly owned 202 shares in the company, valued at $61,096.92. The trade was a 76.67% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 233,647 shares of company stock valued at $70,335,553 over the last 90 days. Company insiders own 6.19% of the company's stock.

BeOne Medicines Stock Down 0.3%

Shares of NASDAQ ONC opened at $325.90 on Friday. BeOne Medicines Ltd. - Sponsored ADR has a 1 year low of $253.95 and a 1 year high of $385.22. The company has a market capitalization of $35.76 billion, a P/E ratio of 72.91 and a beta of 0.49. The company has a 50 day simple moving average of $291.44 and a 200-day simple moving average of $309.43. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.64 and a quick ratio of 3.27.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last issued its quarterly earnings data on Wednesday, April 1st. The company reported $0.25 earnings per share for the quarter. BeOne Medicines had a return on equity of 12.06% and a net margin of 8.94%.The company had revenue of $1.51 billion during the quarter. On average, equities research analysts predict that BeOne Medicines Ltd. - Sponsored ADR will post 5.93 earnings per share for the current year.

More BeOne Medicines News

Here are the key news stories impacting BeOne Medicines this week:

• Positive Sentiment: JPMorgan raised its price target on BeOne Medicines to $425 from $415 and reiterated an overweight rating, signaling additional upside from recent trading levels.
• Positive Sentiment: BeOne announced plans to invest $300 million to expand its New Jersey manufacturing campus, reinforcing long-term U.S. growth, supply-chain capacity, and commitment to oncology production. Article: BeOne Medicines To Invest $300M In New Jersey Manufacturing Expansion
• Positive Sentiment: Another report described the U.S. manufacturing expansion as part of a broader investment plan of more than $1 billion, which may be viewed favorably by investors looking for scale and operational resilience.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ONC shares. Wall Street Zen upgraded BeOne Medicines from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 18th. Royal Bank Of Canada raised their price target on shares of BeOne Medicines from $436.00 to $451.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 7th. Leerink Partners boosted their price target on shares of BeOne Medicines from $364.00 to $367.00 and gave the stock an "outperform" rating in a research report on Friday, May 15th. Citizens Jmp reaffirmed a "market outperform" rating and set a $396.00 price objective on shares of BeOne Medicines in a research note on Wednesday, July 1st. Finally, JPMorgan Chase & Co. raised their target price on shares of BeOne Medicines from $415.00 to $425.00 and gave the stock an "overweight" rating in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, BeOne Medicines presently has a consensus rating of "Moderate Buy" and an average price target of $394.00.

BeOne Medicines Company 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. 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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