Candriam S.C.A. Grows Stake in BeOne Medicines Ltd. – Sponsored ADR $ONC

Candriam S.C.A. increased its stake in shares of BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) by 31.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 259,731 shares of the company’s stock after purchasing an additional 62,470 shares during the period. Candriam S.C.A.’s holdings in BeOne Medicines were worth $77,132,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. EFG International AG acquired a new stake in BeOne Medicines in the 4th quarter worth about $25,000. Leonteq Securities AG acquired a new position in shares of BeOne Medicines during the fourth quarter valued at approximately $35,000. Daiwa Securities Group Inc. acquired a new position in shares of BeOne Medicines during the second quarter valued at approximately $35,000. CWM LLC lifted its position in shares of BeOne Medicines by 32.8% in the fourth quarter. CWM LLC now owns 158 shares of the company’s stock valued at $48,000 after acquiring an additional 39 shares in the last quarter. Finally, Group One Trading LLC purchased a new position in shares of BeOne Medicines in the fourth quarter valued at approximately $61,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ONC has been the subject of several research reports. Zacks Research cut BeOne Medicines from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 3rd. Truist Financial raised their price objective on BeOne Medicines from $413.00 to $416.00 and gave the company a “buy” rating in a report on Tuesday. Jefferies Financial Group cut shares of BeOne Medicines from a “buy” rating to a “hold” rating and lowered their target price for the stock from $420.00 to $290.00 in a research note on Monday, March 16th. Barclays upped their target price on shares of BeOne Medicines from $405.00 to $409.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Finally, Wells Fargo & Company started coverage on shares of BeOne Medicines in a research report on Monday, May 4th. They issued an “overweight” rating and a $400.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, BeOne Medicines currently has an average rating of “Moderate Buy” and a consensus target price of $391.38.

Insider Activity

In related news, SVP Chan Henry Lee sold 664 shares of the firm’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $302.46, for a total transaction of $200,833.44. Following the completion of the sale, the senior vice president directly owned 202 shares in the company, valued at approximately $61,096.92. This trade represents a 76.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John Oyler sold 3,410 shares of the business’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $273.78, for a total transaction of $933,589.80. Following the completion of the transaction, the chief executive officer owned 1,610 shares in the company, valued at $440,785.80. The trade was a 67.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 27,568 shares of company stock valued at $7,452,336 in the last quarter. Insiders own 6.19% of the company’s stock.

BeOne Medicines Price Performance

NASDAQ:ONC opened at $298.70 on Friday. BeOne Medicines Ltd. – Sponsored ADR has a one year low of $249.00 and a one year high of $385.22. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.27 and a current ratio of 3.64. The stock has a market cap of $32.77 billion, a PE ratio of 66.82 and a beta of 0.49. The stock has a 50 day moving average price of $289.89 and a 200 day moving average price of $309.03.

BeOne Medicines (NASDAQ:ONC) last released its quarterly earnings data on Wednesday, April 1st. The company reported $0.25 earnings per share for the quarter. The company had revenue of $1.51 billion for the quarter. BeOne Medicines had a return on equity of 12.06% and a net margin of 8.94%. Equities research analysts expect that BeOne Medicines Ltd. – Sponsored ADR will post 5.86 EPS 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.