Charles Schwab Trust Co Acquires New Position in BeOne Medicines Ltd. - Sponsored ADR $ONC

Key Points

• Charles Schwab Trust Co. acquired 3,000 BeOne Medicines shares in the second quarter, valued at approximately $855,000. Institutional investors and hedge funds collectively own 48.55% of the company.
• Analysts remain broadly optimistic, with BeOne receiving a “Moderate Buy” consensus rating and an average price target of $402.14. TD Cowen and Citizens JMP recently raised their price targets, while Nomura upgraded the stock to “strong buy.”
• BeOne reported quarterly EPS of $2.05, beating estimates of $1.40, while revenue reached $1.71 billion versus the $1.66 billion consensus. The stock opened at $359, near its 52-week high of $385.22.

Charles Schwab Trust Co bought a new position in shares of BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 3,000 shares of the company's stock, valued at approximately $855,000.

Other hedge funds also recently added to or reduced their stakes in the company. Capital International Investors grew its stake in shares of BeOne Medicines by 1.3% in the fourth quarter. Capital International Investors now owns 5,113,866 shares of the company's stock worth $1,553,909,000 after acquiring an additional 67,808 shares in the last quarter. Siren L.L.C. grew its stake in BeOne Medicines by 1.4% during the 4th quarter. Siren L.L.C. now owns 500,000 shares of the company's stock worth $151,905,000 after purchasing an additional 7,010 shares in the last quarter. Morgan Stanley grew its stake in BeOne Medicines by 23.9% during the 4th quarter. Morgan Stanley now owns 437,661 shares of the company's stock worth $132,966,000 after purchasing an additional 84,367 shares in the last quarter. Bank of America Corp DE grew its stake in BeOne Medicines by 7.0% during the 1st quarter. Bank of America Corp DE now owns 405,273 shares of the company's stock worth $120,354,000 after purchasing an additional 26,441 shares in the last quarter. Finally, Candriam S.C.A. increased its holdings in BeOne Medicines by 31.7% during the 1st quarter. Candriam S.C.A. now owns 259,731 shares of the company's stock worth $77,132,000 after purchasing an additional 62,470 shares during the period. 48.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ONC has been the topic of a number of analyst reports. TD Cowen increased their price target on BeOne Medicines from $424.00 to $454.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Nomura raised BeOne Medicines to a "strong-buy" rating in a research report on Monday, July 27th. Weiss Ratings restated a "sell (d-)" rating on shares of BeOne Medicines in a research note on Friday, July 17th. Leerink Partners raised their target price on shares of BeOne Medicines from $364.00 to $367.00 and gave the company an "outperform" rating in a report on Friday, May 15th. Finally, Citizens Jmp lifted their price target on shares of BeOne Medicines from $396.00 to $405.00 and gave the stock a "market outperform" rating in a research note on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $402.14.

BeOne Medicines Price Performance

ONC stock opened at $359.00 on Tuesday. The business has a 50 day moving average price of $298.11 and a 200 day moving average price of $308.86. The stock has a market cap of $39.39 billion, a price-to-earnings ratio of 63.20 and a beta of 0.49. BeOne Medicines Ltd. - Sponsored ADR has a fifty-two week low of $253.95 and a fifty-two week high of $385.22. The company has a quick ratio of 3.06, a current ratio of 3.40 and a debt-to-equity ratio of 0.17.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $2.05 EPS for the quarter, beating the consensus estimate of $1.40 by $0.65. BeOne Medicines had a net margin of 10.70% and a return on equity of 14.23%. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.66 billion. Equities research analysts anticipate that BeOne Medicines Ltd. - Sponsored ADR will post 7.3 earnings per share for the current fiscal year.

Insider Buying and Selling at BeOne Medicines

In related news, COO Xiaobin Wu sold 1,484 shares of the business's stock in a transaction on Monday, June 8th. The shares were sold at an average price of $269.37, for a total value of $399,745.08. Following the completion of the sale, the chief operating officer directly owned 40 shares of the company's stock, valued at $10,774.80. The trade was a 97.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO John Oyler sold 145,861 shares of the company's stock in a transaction on Tuesday, July 14th. The shares were sold at an average price of $305.95, for a total transaction of $44,626,172.95. Following the completion of the transaction, the chief executive officer owned 8,122 shares of the company's stock, valued at $2,484,925.90. This represents a 94.73% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 345,561 shares of company stock valued at $105,625,947. Company insiders own 6.19% of the company's stock.

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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