QRG Capital Management Inc. Takes Position in BeOne Medicines Ltd. - Sponsored ADR $ONC

Key Points

• QRG Capital Management Inc. acquired a new position in BeOne Medicines Ltd. by purchasing 1,517 shares valued at approximately $367,000 during the second quarter.
• BeOne Medicines reported an earnings per share (EPS) of $0.84 for the last quarter, surpassing analysts' expectations of $0.48, alongside a revenue of $1.32 billion.
• Analysts have a generally positive outlook on BeOne Medicines, with several firms assigning an "overweight" rating and an average target price of $340.30 for the stock.

QRG Capital Management Inc. purchased a new position in BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,517 shares of the company's stock, valued at approximately $367,000.

Several other institutional investors have also added to or reduced their stakes in ONC. Public Employees Retirement System of Ohio acquired a new stake in BeOne Medicines in the second quarter worth about $3,491,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in BeOne Medicines in the second quarter worth about $926,000. Perigon Wealth Management LLC acquired a new stake in BeOne Medicines in the second quarter worth about $581,000. Janney Montgomery Scott LLC acquired a new stake in BeOne Medicines in the second quarter worth about $373,000. Finally, LVW Advisors LLC acquired a new stake in BeOne Medicines in the second quarter worth about $247,000. Institutional investors and hedge funds own 48.55% of the company's stock.

BeOne Medicines Trading Down 4.7%

Shares of NASDAQ:ONC opened at $320.10 on Friday. BeOne Medicines Ltd. - Sponsored ADR has a 12-month low of $170.99 and a 12-month high of $355.30. The company has a market capitalization of $35.08 billion, a PE ratio of -185.03 and a beta of 0.31. The business has a 50 day moving average of $322.42 and a two-hundred day moving average of $276.76. The company has a current ratio of 1.95, a quick ratio of 1.72 and a debt-to-equity ratio of 0.04.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last posted 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. The business had revenue of $1.32 billion during the quarter, compared to analysts' expectations of $1.24 billion. BeOne Medicines had a negative return on equity of 1.22% and a negative net margin of 3.89%. As a group, analysts forecast that BeOne Medicines Ltd. - Sponsored ADR will post -5.82 EPS for the current year.

Insiders Place Their Bets

In other news, Director Corazon (Corsee) D. Sanders sold 2,665 shares of the business's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $337.00, for a total value of $898,105.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Titus B. Ball sold 122 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $326.76, for a total value of $39,864.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 164,184 shares of company stock valued at $51,534,146. 6.62% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ONC. Barclays began coverage on BeOne Medicines in a report on Thursday, September 18th. They issued an "overweight" rating and a $385.00 price target for the company. Wall Street Zen raised BeOne Medicines from a "buy" rating to a "strong-buy" rating in a report on Friday, October 3rd. Morgan Stanley lifted their target price on BeOne Medicines from $313.00 to $330.00 and gave the stock an "overweight" rating in a report on Friday, June 27th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of BeOne Medicines in a report on Wednesday. Finally, Royal Bank Of Canada lifted their target price on BeOne Medicines from $349.00 to $364.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $340.30.

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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