Venturi Wealth Management LLC Takes Position in BeOne Medicines Ltd. - Sponsored ADR $ONC

Key Points

• Venturi Wealth Management LLC acquired 1,534 shares of BeOne Medicines Ltd. valued at approximately $371,000 during the second quarter, marking a notable entrance by the investment firm.
• Institutional investors collectively own 48.55% of BeOne Medicines' stock, with several firms, including Public Employees Retirement System of Ohio, also establishing new positions in the company during the same period.
• Analysts have generally rated BeOne Medicines positively, with Morgan Stanley and JPMorgan Chase & Co. recently increasing their price targets to $330.00 and $385.00 respectively.

Venturi Wealth Management LLC acquired a new stake in BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,534 shares of the company's stock, valued at approximately $371,000.

A number of other institutional investors have also made changes to their positions in ONC. Parallel Advisors LLC bought a new position in shares of BeOne Medicines in the 2nd quarter valued at approximately $59,000. Aaron Wealth Advisors LLC bought a new position in shares of BeOne Medicines in the 2nd quarter valued at approximately $200,000. Farther Finance Advisors LLC bought a new position in shares of BeOne Medicines in the 2nd quarter valued at approximately $39,000. Avanza Fonder AB bought a new position in shares of BeOne Medicines in the 2nd quarter valued at approximately $199,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of BeOne Medicines in the 2nd quarter valued at approximately $3,491,000. 48.55% of the stock is owned by institutional investors.

Insider Buying and Selling at BeOne Medicines

In other news, insider Titus B. Ball sold 122 shares of the business's stock in a transaction that occurred 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 legal filing with the SEC, which can be accessed through this link. Also, CEO John Oyler sold 27,803 shares of the business's stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $325.71, for a total value of $9,055,715.13. The disclosure for this sale can be found here. Insiders sold a total of 164,184 shares of company stock valued at $51,534,146 in the last quarter. 6.62% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Morgan Stanley raised their price objective on BeOne Medicines from $313.00 to $330.00 and gave the company an "overweight" rating in a research note on Friday, June 27th. JPMorgan Chase & Co. lifted their price target on BeOne Medicines from $345.00 to $385.00 and gave the stock an "overweight" rating in a research report on Wednesday. Guggenheim lifted their price target on BeOne Medicines from $350.00 to $365.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Wall Street Zen raised BeOne Medicines from a "buy" rating to a "strong-buy" rating in a research report on Friday, October 3rd. Finally, Royal Bank Of Canada lifted their price target on BeOne Medicines from $349.00 to $364.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $340.30.

BeOne Medicines Stock Performance

ONC opened at $320.10 on Friday. The stock has a market cap of $35.08 billion, a PE ratio of -185.03 and a beta of 0.31. 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 Ltd. - Sponsored ADR has a 1 year low of $170.99 and a 1 year high of $355.30. The stock's 50 day simple moving average is $322.42 and its 200-day simple moving average is $276.58.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.36. The business had revenue of $1.32 billion for 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%. Sell-side analysts forecast that BeOne Medicines Ltd. - Sponsored ADR will post -5.82 EPS for the current year.

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.

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