Nykredit A S Invests $1.20 Million in BeOne Medicines Ltd. - Sponsored ADR $ONC

Key Points

• Nykredit A/S initiated a $1.20 million position in BeOne Medicines during the second quarter by purchasing 4,225 shares. Institutional investors now own 48.55% of the company.
• Analyst sentiment remains positive, with the stock carrying a consensus “Buy” rating and an average price target of $402.14; Barclays and Truist Financial recently raised their targets.
• BeOne Medicines exceeded quarterly expectations, reporting $2.05 in adjusted EPS versus the $1.40 consensus and revenue of $1.71 billion, while CEO John Oyler sold $44.6 million in shares under a 10b5-1 plan.

Nykredit A S purchased a new stake in BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 4,225 shares of the company's stock, valued at approximately $1,204,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bank of America Corp DE purchased a new stake in BeOne Medicines during the 2nd quarter worth about $67,657,000. Man Group plc bought a new stake in shares of BeOne Medicines during the second quarter valued at about $59,031,000. BNP Paribas Financial Markets bought a new stake in shares of BeOne Medicines during the second quarter valued at about $38,337,000. First Trust Advisors LP boosted its position in shares of BeOne Medicines by 91.9% in the first quarter. First Trust Advisors LP now owns 241,426 shares of the company's stock valued at $71,696,000 after acquiring an additional 115,601 shares during the period. Finally, Qube Research & Technologies Ltd purchased a new position in BeOne Medicines during the second quarter valued at approximately $26,034,000. 48.55% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Wall Street Zen raised shares of BeOne Medicines from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 18th. Morgan Stanley reissued an "overweight" rating on shares of BeOne Medicines in a report on Thursday, August 6th. Zacks Research upgraded shares of BeOne Medicines from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 7th. Barclays upped their price target on shares of BeOne Medicines from $403.00 to $407.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. Finally, Truist Financial increased their price objective on BeOne Medicines from $416.00 to $418.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Three research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $402.14.

BeOne Medicines Stock Performance

Shares of BeOne Medicines stock opened at $358.26 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.40 and a quick ratio of 3.06. BeOne Medicines Ltd. - Sponsored ADR has a 1 year low of $253.95 and a 1 year high of $385.22. The firm has a market cap of $39.33 billion, a PE ratio of 63.07 and a beta of 0.51. The company has a 50 day simple moving average of $335.31 and a two-hundred day simple moving average of $311.47.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $2.05 EPS for the quarter, topping analysts' consensus estimates of $1.40 by $0.65. BeOne Medicines had a net margin of 10.70% and a return on equity of 14.23%. The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.66 billion. Analysts expect that BeOne Medicines Ltd. - Sponsored ADR will post 8.81 earnings per share for the current fiscal year.

Insider Buying and Selling

In other BeOne Medicines news, CEO John Oyler sold 145,861 shares of the firm's stock in a transaction dated Tuesday, July 14th. The stock was sold at an average price of $305.95, for a total transaction of $44,626,172.95. Following the sale, the chief executive officer owned 8,122 shares in the company, valued at $2,484,925.90. This trade represents a 94.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 579,683 shares of company stock valued at $190,541,846 over the last quarter. 6.19% of the stock is owned by corporate 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. 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.