SEB Asset Management AB Buys New Stake in BeOne Medicines Ltd. – Sponsored ADR $ONC

SEB Asset Management AB purchased a new stake in shares of BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 56,078 shares of the company’s stock, valued at approximately $16,653,000.

Other large investors have also modified their holdings of the company. Cetera Investment Advisers purchased a new stake in shares of BeOne Medicines during the 2nd quarter worth about $455,000. Rhumbline Advisers purchased a new stake in BeOne Medicines in the 2nd quarter worth $275,000. Arrowstreet Capital Limited Partnership purchased a new position in BeOne Medicines during the second quarter valued at $505,000. Invesco Ltd. acquired a new stake in shares of BeOne Medicines in the second quarter valued at about $422,000. Finally, EverSource Wealth Advisors LLC acquired a new stake in shares of BeOne Medicines in the second quarter valued at about $68,000. Institutional investors and hedge funds own 48.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ONC shares. Leerink Partners upped their price target on shares of BeOne Medicines from $364.00 to $367.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. Morgan Stanley reaffirmed an “overweight” rating and set a $395.00 target price on shares of BeOne Medicines in a research note on Thursday, May 7th. Citizens Jmp restated a “market outperform” rating and issued a $396.00 target price on shares of BeOne Medicines in a research report on Wednesday, July 1st. Wolfe Research initiated coverage on BeOne Medicines in a research note on Friday, March 27th. They issued an “outperform” rating and a $340.00 price target on the stock. Finally, Barclays lowered their price target on BeOne Medicines from $409.00 to $403.00 and set an “overweight” rating for the company in a report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $390.92.

Insider Buying and Selling

In other BeOne Medicines news, insider Lai Wang sold 1,367 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $269.38, for a total value of $368,242.46. Following the completion of the transaction, the insider owned 40 shares in the company, valued at approximately $10,775.20. This represents a 97.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO John Oyler sold 145,861 shares of the company’s stock in a transaction dated Tuesday, July 14th. The stock was sold at an average price of $305.95, for a total transaction of $44,626,172.95. Following the transaction, the chief executive officer owned 8,122 shares in the company, valued at $2,484,925.90. The trade was a 94.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 233,647 shares of company stock valued at $70,335,553 over the last quarter. Company insiders own 6.19% of the company’s stock.

BeOne Medicines Trading Down 0.5%

Shares of BeOne Medicines stock opened at $310.58 on Tuesday. 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 company has a market capitalization of $34.08 billion, a P/E ratio of 69.48 and a beta of 0.49. BeOne Medicines Ltd. – Sponsored ADR has a 1 year low of $253.95 and a 1 year high of $385.22. The company’s fifty day moving average is $290.21 and its two-hundred day moving average is $308.99.

BeOne Medicines (NASDAQ:ONC) last announced its earnings results on Wednesday, April 1st. The company reported $0.25 EPS for the quarter. The business had revenue of $1.51 billion during the quarter. BeOne Medicines had a net margin of 8.94% and a return on equity of 12.06%. Analysts forecast that BeOne Medicines Ltd. – Sponsored ADR will post 5.86 earnings per share for the current 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.