BeOne Medicines Ltd. - Sponsored ADR $ONC Shares Purchased by BNP Paribas Financial Markets

Key Points

• BNP Paribas Financial Markets more than doubled its stake in BeOne Medicines in the fourth quarter, buying an additional 97,244 shares and ending with 193,951 shares worth about $58.9 million.
• The stock recently traded at $274.69, below its 50-day and 200-day moving averages, with a market cap of about $30.1 billion and a beta of 0.49.
• Analysts remain broadly positive on ONC, with an average Moderate Buy rating and a consensus price target of $390, even as some insiders sold shares in transactions tied to tax withholding on vested equity awards.

BNP Paribas Financial Markets raised its position in BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Free Report) by 100.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 193,951 shares of the company's stock after buying an additional 97,244 shares during the period. BNP Paribas Financial Markets owned approximately 0.18% of BeOne Medicines worth $58,924,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ONC. Leonteq Securities AG purchased a new position in BeOne Medicines in the 4th quarter valued at about $35,000. Daiwa Securities Group Inc. purchased a new position in BeOne Medicines in the 2nd quarter valued at about $35,000. CWM LLC boosted its position in BeOne Medicines by 32.8% in the 4th quarter. CWM LLC now owns 158 shares of the company's stock valued at $48,000 after buying an additional 39 shares during the last quarter. Farther Finance Advisors LLC boosted its position in BeOne Medicines by 21.8% in the 4th quarter. Farther Finance Advisors LLC now owns 218 shares of the company's stock valued at $66,000 after buying an additional 39 shares during the last quarter. Finally, EverSource Wealth Advisors LLC purchased a new position in BeOne Medicines in the 2nd quarter valued at about $68,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

BeOne Medicines Stock Performance

Shares of ONC stock opened at $274.69 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.27 and a current ratio of 3.64. BeOne Medicines Ltd. - Sponsored ADR has a one year low of $239.25 and a one year high of $385.22. The company's 50-day simple moving average is $301.97 and its 200-day simple moving average is $320.17. The stock has a market capitalization of $30.14 billion, a price-to-earnings ratio of 61.45 and a beta of 0.49.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last issued its quarterly 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 business had revenue of $1.51 billion for the quarter. Equities analysts anticipate that BeOne Medicines Ltd. - Sponsored ADR will post 5.65 earnings per share for the current fiscal year.

Insider Buying and Selling at BeOne Medicines

In other BeOne Medicines news, Director Alessandro Riva sold 212 shares of the firm's stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $309.51, for a total value of $65,616.12. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Corazon (Corsee) D. Sanders sold 212 shares of the firm's stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $309.59, for a total transaction of $65,633.08. 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. Over the last three months, insiders sold 1,641 shares of company stock worth $505,791. Insiders own 6.19% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ONC shares. Guggenheim upped their price objective on shares of BeOne Medicines from $410.00 to $420.00 and gave the company a "buy" rating in a research report on Thursday, May 7th. Leerink Partners upped their price objective on shares of BeOne Medicines from $364.00 to $367.00 and gave the company an "outperform" rating in a research report on Friday, May 15th. Wolfe Research started coverage on shares of BeOne Medicines in a research report on Friday, March 27th. They issued an "outperform" rating and a $340.00 price objective for the company. Jefferies Financial Group cut shares of BeOne Medicines from a "buy" rating to a "hold" rating and decreased their price objective for the company from $420.00 to $290.00 in a research report on Monday, March 16th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $395.00 price target on shares of BeOne Medicines in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $390.00.

BeOne Medicines 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.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.