Blue Trust Inc. Buys New Shares in BeOne Medicines Ltd. - Sponsored ADR $ONC

Key Points

• Blue Trust Inc. acquired a new stake in BeOne Medicines Ltd. during the second quarter, purchasing 866 shares valued at approximately $210,000, as reported in a recent 13F filing.
• BeOne Medicines recently reported quarterly earnings of $0.84 per share, outperforming analysts' estimates of $0.48, and posted a revenue of $1.32 billion compared to projected $1.24 billion.
• Several analysts have recently raised their price targets for BeOne Medicines, with JPMorgan Chase increasing its target from $345.00 to $385.00, maintaining an "overweight" rating.

Blue Trust Inc. bought a new stake in shares of BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 866 shares of the company's stock, valued at approximately $210,000.

Several other hedge funds have also bought and sold shares of ONC. Slow Capital Inc. purchased a new stake in BeOne Medicines in the 2nd quarter worth $4,377,000. Public Employees Retirement System of Ohio purchased a new stake in BeOne Medicines in the 2nd quarter worth $3,491,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in BeOne Medicines in the 2nd quarter worth $926,000. Perigon Wealth Management LLC purchased a new stake in BeOne Medicines in the 2nd quarter worth $581,000. Finally, Janney Montgomery Scott LLC purchased a new stake in BeOne Medicines in the 2nd quarter worth $373,000. Hedge funds and other institutional investors own 48.55% of the company's stock.

BeOne Medicines Trading Down 1.5%

Shares of NASDAQ ONC opened at $316.15 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.72 and a current ratio of 1.95. The business's 50 day moving average price is $323.50 and its 200-day moving average price is $277.84. BeOne Medicines Ltd. - Sponsored ADR has a fifty-two week low of $170.99 and a fifty-two week high of $355.30. The company has a market cap of $34.65 billion, a price-to-earnings ratio of -182.74 and a beta of 0.31.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.36. BeOne Medicines had a negative return on equity of 1.22% and a negative net margin of 3.89%.The company had revenue of $1.32 billion during the quarter, compared to analysts' expectations of $1.24 billion. On average, sell-side analysts expect that BeOne Medicines Ltd. - Sponsored ADR will post -5.82 earnings per share for the current year.

Analyst Ratings Changes

ONC has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price target on shares of BeOne Medicines from $345.00 to $385.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 8th. Guggenheim boosted their price target on shares of BeOne Medicines from $350.00 to $365.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Wall Street Zen upgraded shares of BeOne Medicines from a "buy" rating to a "strong-buy" rating in a research report on Friday, October 3rd. Barclays initiated coverage on shares of BeOne Medicines in a research report on Thursday, September 18th. They set an "overweight" rating and a $385.00 target price on the stock. Finally, Royal Bank Of Canada upped their target price on shares of BeOne Medicines from $349.00 to $364.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $340.30.

Insider Activity at BeOne Medicines

In other BeOne Medicines news, SVP Chan Henry Lee sold 10,671 shares of the business's stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $350.40, for a total value of $3,739,118.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Titus B. Ball sold 122 shares of the company's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $326.76, for a total transaction of $39,864.72. The disclosure for this sale can be found here. Insiders have sold a total of 164,184 shares of company stock worth $51,534,146 over the last ninety days. 6.62% of the stock is currently owned by company insiders.

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.

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