Pinpoint Asset Management Singapore Pte. Ltd. Has $1.49 Million Stock Position in BeOne Medicines Ltd. - Sponsored ADR $ONC

Key Points

• Pinpoint Asset Management cut its stake in BeOne Medicines by 73.2%, selling 11,926 shares and ending the quarter with 4,374 shares valued at about $1.49 million.
• Significant insider selling: CEO John Oyler sold 75,631 shares for roughly $23.28 million, and insiders have sold 102,656 shares (~$31.57 million) in the past 90 days, while insiders still own 6.62% of the stock.
• BeOne reported Q results that missed EPS expectations ($0.58 vs. $1.60 est.) but beat revenue ($1.50B vs. $1.45B); the stock has a market cap of about $33.02 billion, a P/E of 119.49, and an analyst consensus of "Moderate Buy" with a $401 price target.

Pinpoint Asset Management Singapore Pte. Ltd. lowered its holdings in shares of BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Free Report) by 73.2% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 4,374 shares of the company's stock after selling 11,926 shares during the period. Pinpoint Asset Management Singapore Pte. Ltd.'s holdings in BeOne Medicines were worth $1,490,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Legal & General Group Plc acquired a new position in shares of BeOne Medicines in the second quarter valued at $13,857,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of BeOne Medicines by 1,019.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,816 shares of the company's stock worth $14,587,000 after buying an additional 38,992 shares during the last quarter. Fiera Capital Corp boosted its holdings in shares of BeOne Medicines by 20.1% during the 3rd quarter. Fiera Capital Corp now owns 25,117 shares of the company's stock worth $8,557,000 after buying an additional 4,205 shares during the period. Virtus Investment Advisers LLC bought a new stake in shares of BeOne Medicines during the 2nd quarter worth about $389,000. Finally, Baird Financial Group Inc. acquired a new position in BeOne Medicines in the 2nd quarter valued at about $82,895,000. Institutional investors own 48.55% of the company's stock.

BeOne Medicines Stock Up 2.8%

NASDAQ ONC opened at $301.12 on Monday. The company has a current ratio of 3.41, a quick ratio of 3.08 and a debt-to-equity ratio of 0.22. The company has a market cap of $33.02 billion, a price-to-earnings ratio of 119.49 and a beta of 0.53. The company has a 50 day moving average of $335.67 and a 200-day moving average of $330.39. BeOne Medicines Ltd. - Sponsored ADR has a 1-year low of $196.45 and a 1-year high of $385.22.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.58 EPS for the quarter, missing analysts' consensus estimates of $1.60 by ($1.02). The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.45 billion. BeOne Medicines had a return on equity of 10.70% and a net margin of 5.37%. On average, equities research analysts expect that BeOne Medicines Ltd. - Sponsored ADR will post -5.82 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on ONC. Royal Bank Of Canada raised their price objective on shares of BeOne Medicines from $417.00 to $425.00 and gave the stock an "outperform" rating in a research report on Thursday, February 26th. Sanford C. Bernstein raised BeOne Medicines from a "hold" rating to an "outperform" rating and set a $414.00 target price on the stock in a research report on Monday, January 12th. Guggenheim increased their target price on BeOne Medicines from $400.00 to $410.00 and gave the stock a "buy" rating in a research note on Friday, February 27th. Citigroup lifted their price target on BeOne Medicines from $399.00 to $405.00 and gave the stock a "buy" rating in a report on Monday, November 10th. Finally, Wall Street Zen downgraded BeOne Medicines from a "strong-buy" rating to a "buy" rating in a research note on Saturday, February 28th. Eleven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, BeOne Medicines currently has an average rating of "Moderate Buy" and a consensus price target of $401.00.

Insiders Place Their Bets

In related news, SVP Chan Henry Lee sold 1,660 shares of the firm's stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $349.52, for a total value of $580,203.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO John Oyler sold 75,631 shares of the business's stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $307.79, for a total value of $23,278,465.49. Following the completion of the transaction, the chief executive officer directly owned 24,369 shares of the company's stock, valued at approximately $7,500,534.51. This trade represents a 75.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 102,656 shares of company stock worth $31,567,496 in the last 90 days. 6.62% of the stock is owned by company insiders.

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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