Mirae Asset Global Investments Co. Ltd. acquired a new stake in BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 3,824 shares of the company's stock, valued at approximately $926,000.
Several other institutional investors and hedge funds have also recently modified their holdings of ONC. Farther Finance Advisors LLC purchased a new stake in shares of BeOne Medicines in the 2nd quarter valued at $39,000. Signaturefd LLC purchased a new stake in shares of BeOne Medicines in the 2nd quarter valued at $49,000. Parallel Advisors LLC purchased a new stake in shares of BeOne Medicines in the 2nd quarter valued at $59,000. Avanza Fonder AB purchased a new stake in shares of BeOne Medicines in the 2nd quarter valued at $199,000. Finally, Aaron Wealth Advisors LLC purchased a new stake in shares of BeOne Medicines in the 2nd quarter valued at $200,000. Hedge funds and other institutional investors own 48.55% of the company's stock.
Analysts Set New Price Targets
Several brokerages have weighed in on ONC. Guggenheim upped their price target on BeOne Medicines from $350.00 to $365.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Barclays began coverage on BeOne Medicines in a report on Thursday, September 18th. They set an "overweight" rating and a $385.00 price target on the stock. Royal Bank Of Canada upped their price target on BeOne Medicines from $349.00 to $364.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Wall Street Zen upgraded BeOne Medicines from a "buy" rating to a "strong-buy" rating in a report on Friday, October 3rd. Finally, Zacks Research upgraded BeOne Medicines from a "hold" rating to a "strong-buy" rating in a report on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $340.30.
Check Out Our Latest Stock Analysis on BeOne Medicines
Insiders Place Their Bets
In related news, insider Lai Wang sold 5,000 shares of the business's stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $350.06, for a total value of $1,750,300.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO John Oyler sold 27,803 shares of the business's stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $325.71, for a total value of $9,055,715.13. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 153,513 shares of company stock valued at $47,795,028. Insiders own 6.62% of the company's stock.
BeOne Medicines Stock Performance
BeOne Medicines stock opened at $335.80 on Friday. 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 stock has a fifty day moving average of $322.00 and a two-hundred day moving average of $276.10. The company has a market capitalization of $36.80 billion, a price-to-earnings ratio of -194.10 and a beta of 0.31. BeOne Medicines Ltd. - Sponsored ADR has a fifty-two week low of $170.99 and a fifty-two week high of $355.30.
BeOne Medicines (NASDAQ:ONC - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.84 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 business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.24 billion. On average, analysts anticipate that BeOne Medicines Ltd. - Sponsored ADR will post -5.82 EPS for the current fiscal year.
About BeOne Medicines
(
Free Report)
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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