Public Employees Retirement System of Ohio Invests $2.14 Million in BeOne Medicines Ltd. – Sponsored ADR $ONC

Public Employees Retirement System of Ohio acquired a new stake in BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 7,498 shares of the company’s stock, valued at approximately $2,137,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Generali Investments Management Co LLC acquired a new position in BeOne Medicines during the 2nd quarter worth $2,280,000. Charles Schwab Trust Co purchased a new position in shares of BeOne Medicines in the 2nd quarter valued at about $855,000. Steadtrust LLC boosted its stake in shares of BeOne Medicines by 3.7% in the 2nd quarter. Steadtrust LLC now owns 1,400 shares of the company’s stock valued at $399,000 after buying an additional 50 shares during the period. Empowered Funds LLC acquired a new position in shares of BeOne Medicines during the first quarter worth about $201,000. Finally, Bank of America Corp DE grew its position in shares of BeOne Medicines by 7.0% during the first quarter. Bank of America Corp DE now owns 405,273 shares of the company’s stock worth $120,354,000 after buying an additional 26,441 shares in the last quarter. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ONC shares. Barclays raised their target price on shares of BeOne Medicines from $403.00 to $407.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. TD Cowen boosted their price target on shares of BeOne Medicines from $424.00 to $454.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Royal Bank Of Canada dropped their price objective on shares of BeOne Medicines from $451.00 to $450.00 and set an “outperform” rating on the stock in a research report on Thursday, August 6th. Nomura upgraded shares of BeOne Medicines to a “strong-buy” rating in a report on Monday, July 27th. Finally, Guggenheim lifted their price objective on shares of BeOne Medicines from $420.00 to $430.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Three research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $402.14.

Insider Transactions at BeOne Medicines

In other news, CEO John Oyler sold 145,861 shares of BeOne Medicines 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 sale, the chief executive officer owned 8,122 shares in the company, valued at approximately $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 accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 579,683 shares of company stock valued at $190,541,846 in the last three months. Corporate insiders own 6.19% of the company’s stock.

BeOne Medicines Price Performance

Shares of NASDAQ:ONC opened at $358.26 on Monday. The firm has a 50 day simple moving average of $333.94 and a 200-day simple moving average of $311.45. BeOne Medicines Ltd. – Sponsored ADR has a twelve month low of $253.95 and a twelve month high of $385.22. The company has a current ratio of 3.40, a quick ratio of 3.06 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $39.33 billion, a PE ratio of 63.07 and a beta of 0.51.

BeOne Medicines (NASDAQ:ONC) last posted its earnings results on Wednesday, August 5th. The company reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.65. BeOne Medicines had a net margin of 10.70% and a return on equity of 14.23%. The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.66 billion. On average, equities analysts predict that BeOne Medicines Ltd. – Sponsored ADR will post 8.81 EPS for the current fiscal 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.