Perigon Wealth Management LLC Acquires New Position in BeOne Medicines Ltd. - Sponsored ADR $ONC

Key Points

• Perigon Wealth Management LLC acquired 2,400 shares of BeOne Medicines Ltd., valued at approximately $581,000, indicating investor interest in the firm.
• Insiders at BeOne Medicines have sold a total of 181,315 shares worth nearly $54.84 million in the last 90 days, highlighting significant insider trading activity.
• BeOne Medicines reported $0.84 earnings per share (EPS) for the last quarter, surpassing analysts' expectations of $0.48, with a revenue of $1.32 billion.

Perigon Wealth Management LLC acquired a new stake in shares of BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 2,400 shares of the company's stock, valued at approximately $581,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ONC. Public Employees Retirement System of Ohio purchased a new stake in BeOne Medicines during the 2nd quarter valued at approximately $3,491,000. Avanza Fonder AB purchased a new stake in BeOne Medicines during the 2nd quarter valued at approximately $199,000. Farther Finance Advisors LLC purchased a new stake in BeOne Medicines during the 2nd quarter valued at approximately $39,000. Aaron Wealth Advisors LLC purchased a new stake in BeOne Medicines during the 2nd quarter valued at approximately $200,000. Finally, Parallel Advisors LLC purchased a new stake in BeOne Medicines during the 2nd quarter valued at approximately $59,000. 48.55% of the stock is currently owned by institutional investors.

Insider Buying and Selling at BeOne Medicines

In other news, insider Titus B. Ball sold 122 shares of BeOne Medicines stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $326.76, for a total transaction of $39,864.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Corazon (Corsee) D. Sanders sold 2,665 shares of BeOne Medicines stock in a transaction on Friday, September 5th. The stock was sold at an average price of $337.00, for a total value of $898,105.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 181,315 shares of company stock valued at $54,839,498. 6.62% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of BeOne Medicines from $321.00 to $345.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Guggenheim increased their price objective on shares of BeOne Medicines from $350.00 to $365.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Royal Bank Of Canada increased their price objective on shares of BeOne Medicines from $349.00 to $364.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Morgan Stanley increased their price objective on shares of BeOne Medicines from $313.00 to $330.00 and gave the company an "overweight" rating in a report on Friday, June 27th. Finally, Wall Street Zen lowered shares of BeOne Medicines from a "strong-buy" rating to a "buy" rating in a report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the company. According to MarketBeat, BeOne Medicines has an average rating of "Buy" and a consensus target price of $336.30.

BeOne Medicines Stock Up 2.1%

Shares of ONC opened at $332.83 on Tuesday. The company has a market cap of $36.48 billion, a PE ratio of -192.39 and a beta of 0.21. The business has a fifty day moving average of $314.84 and a 200 day moving average of $271.73. BeOne Medicines Ltd. - Sponsored ADR has a 52-week low of $170.99 and a 52-week high of $351.27. The company has a quick ratio of 1.72, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

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

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.

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