Candriam S.C.A. Grows Stake in BeOne Medicines Ltd. - Sponsored ADR $ONC

Key Points

• Candriam S.C.A. increased its stake in BeOne Medicines by 31.7% in the first quarter, buying 62,470 additional shares and bringing its total holding to 259,731 shares valued at about $77.1 million.
• BeOne Medicines reported quarterly earnings of $0.25 EPS on revenue of $1.51 billion, while analysts currently expect full-year EPS of 5.86 and assign the stock an average Moderate Buy rating with a $391.38 consensus target.
• Insiders sold shares recently, including Titus B. Ball and Lai Wang, and insiders sold 27,568 shares over the last 90 days; despite that, institutional investors still own 48.55% of the company.

Candriam S.C.A. raised its holdings in shares of BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Free Report) by 31.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 259,731 shares of the company's stock after purchasing an additional 62,470 shares during the period. Candriam S.C.A. owned 0.24% of BeOne Medicines worth $77,132,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. EFG International AG purchased a new position in BeOne Medicines during the 4th quarter worth $25,000. Leonteq Securities AG purchased a new stake in BeOne Medicines in the fourth quarter valued at about $35,000. Daiwa Securities Group Inc. acquired a new stake in BeOne Medicines in the second quarter worth about $35,000. CWM LLC boosted its holdings in BeOne Medicines by 32.8% in the fourth quarter. CWM LLC now owns 158 shares of the company's stock worth $48,000 after acquiring an additional 39 shares in the last quarter. Finally, Group One Trading LLC purchased a new stake in shares of BeOne Medicines during the fourth quarter worth about $61,000. Hedge funds and other institutional investors own 48.55% of the company's stock.

BeOne Medicines Price Performance

Shares of NASDAQ ONC opened at $298.70 on Friday. BeOne Medicines Ltd. - Sponsored ADR has a 52 week low of $249.00 and a 52 week high of $385.22. The business's 50 day moving average price is $289.89 and its 200 day moving average price is $309.03. 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 firm has a market cap of $32.77 billion, a P/E ratio of 66.82 and a beta of 0.49.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 1st. The company reported $0.25 EPS for the quarter. The business had revenue of $1.51 billion during the quarter. BeOne Medicines had a net margin of 8.94% and a return on equity of 12.06%. On average, sell-side analysts expect that BeOne Medicines Ltd. - Sponsored ADR will post 5.86 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Royal Bank Of Canada increased their price objective on shares of BeOne Medicines from $436.00 to $451.00 and gave the company an "outperform" rating in a research report on Tuesday. Wall Street Zen lowered shares of BeOne Medicines from a "strong-buy" rating to a "buy" rating in a research note on Monday, July 6th. Barclays raised their price target on shares of BeOne Medicines from $405.00 to $409.00 and gave the stock an "overweight" rating in a report on Thursday, May 7th. Wells Fargo & Company assumed coverage on shares of BeOne Medicines in a research note on Monday, May 4th. They set an "overweight" rating and a $400.00 price objective for the company. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of BeOne Medicines in a report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $391.38.

Insider Activity

In related news, insider Titus B. Ball sold 169 shares of the firm's stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $257.20, for a total transaction of $43,466.80. Following the sale, the insider owned 99,645 shares in the company, valued at approximately $25,628,694. This trade represents a 0.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Lai Wang sold 1,068 shares of BeOne Medicines stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $276.74, for a total value of $295,558.32. 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. Insiders sold 27,568 shares of company stock valued at $7,452,336 over the last 90 days. Company 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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