Squarepoint Ops LLC Boosts Stock Position in BeOne Medicines Ltd. - Sponsored ADR $ONC

Key Points

• Squarepoint Ops LLC increased its BeOne Medicines position by 6% in the second quarter, purchasing 4,437 additional shares and bringing its holdings to 78,561 shares worth approximately $22.4 million. Institutional investors collectively own 48.55% of the company.
• Analysts remain broadly bullish, with BeOne Medicines receiving a consensus “Buy” rating and an average price target of $402.14. Several firms recently raised their targets, while Zacks upgraded the stock to “Strong Buy.”
• BeOne Medicines exceeded quarterly expectations, reporting $2.05 in earnings per share versus the $1.40 consensus estimate and revenue of $1.71 billion. However, CEO John Oyler sold 145,861 shares under a pre-arranged trading plan, reducing his direct ownership by 94.73%.

Squarepoint Ops LLC boosted its position in BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Free Report) by 6.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,561 shares of the company's stock after buying an additional 4,437 shares during the quarter. Squarepoint Ops LLC owned approximately 0.07% of BeOne Medicines worth $22,388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. EFG International AG purchased a new stake in BeOne Medicines during the fourth quarter valued at about $25,000. Leonteq Securities AG bought a new stake in shares of BeOne Medicines in the 4th quarter valued at about $35,000. Daiwa Securities Group Inc. bought a new stake in shares of BeOne Medicines in the 2nd quarter valued at about $35,000. CWM LLC boosted its holdings in BeOne Medicines by 32.8% during the 4th quarter. CWM LLC now owns 158 shares of the company's stock valued at $48,000 after acquiring an additional 39 shares during the period. Finally, Group One Trading LLC purchased a new stake in BeOne Medicines during the 4th quarter valued at about $61,000. 48.55% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO John Oyler sold 145,861 shares of the business's stock in a transaction that occurred on Tuesday, July 14th. The shares were sold at an average price of $305.95, for a total transaction of $44,626,172.95. Following the completion of the transaction, the chief executive officer directly owned 8,122 shares of the company's stock, valued at $2,484,925.90. The trade was a 94.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 579,683 shares of company stock valued at $190,541,846. 6.19% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ONC shares. Barclays increased their price objective on BeOne Medicines from $403.00 to $407.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. increased their price target on shares of BeOne Medicines from $415.00 to $425.00 and gave the company an "overweight" rating in a research report on Thursday, July 23rd. Truist Financial raised their price target on shares of BeOne Medicines from $416.00 to $418.00 and gave the stock a "buy" rating 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. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of BeOne Medicines in a research note on Thursday, August 6th. Three equities 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 issued a Sell rating to the stock. According to MarketBeat.com, BeOne Medicines currently has a consensus rating of "Buy" and a consensus target price of $402.14.

BeOne Medicines Stock Down 1.9%

Shares of BeOne Medicines stock opened at $351.48 on Wednesday. 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 $38.59 billion, a price-to-earnings ratio of 61.88 and a beta of 0.51. The company has a 50-day moving average of $336.64 and a 200 day moving average of $311.42. 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 (NASDAQ:ONC - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $2.05 earnings per share for the quarter, beating analysts' consensus estimates of $1.40 by $0.65. The company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.66 billion. BeOne Medicines had a return on equity of 14.23% and a net margin of 10.70%. As a group, sell-side analysts anticipate that BeOne Medicines Ltd. - Sponsored ADR will post 8.81 earnings per share for the current fiscal year.

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.

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