Jain Global LLC Sells 32,244 Shares of BeOne Medicines Ltd. – Sponsored ADR $ONC

Jain Global LLC cut its position in BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) by 54.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,197 shares of the company’s stock after selling 32,244 shares during the period. Jain Global LLC’s holdings in BeOne Medicines were worth $9,266,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fred Alger Management LLC purchased a new stake in shares of BeOne Medicines in the third quarter worth about $1,309,000. Focus Partners Wealth boosted its stake in BeOne Medicines by 96.7% during the third quarter. Focus Partners Wealth now owns 2,569 shares of the company’s stock worth $842,000 after buying an additional 1,263 shares during the period. Bank of America Corp DE grew its holdings in BeOne Medicines by 23.5% during the 3rd quarter. Bank of America Corp DE now owns 345,256 shares of the company’s stock valued at $117,629,000 after purchasing an additional 65,763 shares during the last quarter. Ameriprise Financial Inc. grew its position in BeOne Medicines by 54.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,840 shares of the company’s stock valued at $968,000 after acquiring an additional 1,001 shares during the last quarter. Finally, Creative Planning increased its stake in BeOne Medicines by 49.7% in the 3rd quarter. Creative Planning now owns 8,951 shares of the company’s stock worth $3,050,000 after buying an additional 2,970 shares during the period. Institutional investors own 48.55% of the company’s stock.

Insider Activity

In related news, SVP Chan Henry Lee sold 1,660 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $349.52, for a total transaction of $580,203.20. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders sold a total of 2,665 shares of company stock worth $902,792 over the last 90 days. Company insiders own 6.62% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ONC shares. Jefferies Financial Group lowered BeOne Medicines from a “buy” rating to a “hold” rating and cut their price target for the company from $420.00 to $290.00 in a research note on Monday. Morgan Stanley reissued an “overweight” rating and issued a $405.00 price objective on shares of BeOne Medicines in a research report on Thursday, January 8th. Barclays upped their target price on BeOne Medicines from $394.00 to $405.00 and gave the company an “overweight” rating in a research report on Friday, February 27th. Wall Street Zen lowered shares of BeOne Medicines from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 28th. Finally, Guggenheim lifted their price objective on BeOne Medicines from $400.00 to $410.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Ten investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $389.18.

BeOne Medicines Stock Up 2.0%

Shares of ONC opened at $289.65 on Tuesday. 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 firm has a market cap of $31.76 billion, a P/E ratio of 114.94 and a beta of 0.53. The company’s 50-day moving average price is $333.91 and its 200 day moving average price is $329.84. BeOne Medicines Ltd. – Sponsored ADR has a 12-month low of $196.45 and a 12-month high of $385.22.

BeOne Medicines (NASDAQ:ONC) last released its earnings results on Thursday, February 26th. The company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.60 by ($1.02). The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.45 billion. BeOne Medicines had a return on equity of 10.70% and a net margin of 5.37%. On average, sell-side analysts forecast that BeOne Medicines Ltd. – Sponsored ADR will post -5.82 earnings per share 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. The company was founded by Xiao Dong Wang and John V. Oyler on October 28, 2010 and is headquartered in Basel, Switzerland.