Sanders Morris Harris LLC Acquires New Position in BeOne Medicines Ltd. – Sponsored ADR $ONC

Sanders Morris Harris LLC acquired a new stake in shares of BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,100 shares of the company’s stock, valued at approximately $1,134,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. First Trust Advisors LP increased its stake in shares of BeOne Medicines by 91.9% in the first quarter. First Trust Advisors LP now owns 241,426 shares of the company’s stock worth $71,696,000 after buying an additional 115,601 shares during the period. Jennison Associates LLC raised its holdings in BeOne Medicines by 102.1% during the 1st quarter. Jennison Associates LLC now owns 154,465 shares of the company’s stock valued at $45,871,000 after buying an additional 78,027 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in BeOne Medicines during the 1st quarter valued at $19,438,000. Candriam S.C.A. boosted its position in BeOne Medicines by 31.7% during the 1st quarter. Candriam S.C.A. now owns 259,731 shares of the company’s stock valued at $77,132,000 after buying an additional 62,470 shares during the period. Finally, SEB Asset Management AB purchased a new stake in BeOne Medicines during the 1st quarter valued at $16,653,000. Institutional investors own 48.55% of the company’s stock.

Insider Transactions at BeOne Medicines

In other news, insider Titus B. Ball sold 132 shares of BeOne Medicines stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $355.86, for a total transaction of $46,973.52. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Xiaobin Wu sold 280 shares of the business’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $380.00, for a total transaction of $106,400.00. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 426,232 shares of company stock worth $147,986,148. 6.19% of the stock is owned by corporate insiders.

BeOne Medicines Trading Up 0.7%

ONC stock traded up $2.40 on Wednesday, reaching $351.48. The company’s stock had a trading volume of 361,611 shares, compared to its average volume of 306,147. The business has a fifty day simple moving average of $358.64 and a two-hundred day simple moving average of $320.15. BeOne Medicines Ltd. – Sponsored ADR has a 12-month low of $253.95 and a 12-month high of $385.22. The firm has a market cap of $38.59 billion, a PE ratio of 61.88 and a beta of 0.61. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.06 and a current ratio of 3.40.

BeOne Medicines (NASDAQ:ONC) last released its quarterly earnings results on Wednesday, August 5th. The company reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.65. The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.66 billion. BeOne Medicines had a net margin of 10.70% and a return on equity of 14.23%. As a group, research analysts forecast that BeOne Medicines Ltd. – Sponsored ADR will post 8.99 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on ONC. Wolfe Research reissued an “outperform” rating and issued a $370.00 price target on shares of BeOne Medicines in a report on Monday, August 10th. Nomura raised shares of BeOne Medicines to a “strong-buy” rating in a research note on Monday, July 27th. Citizens Jmp increased their target price on shares of BeOne Medicines from $396.00 to $405.00 and gave the stock a “market outperform” rating in a report on Thursday, August 6th. Citigroup reiterated an “outperform” rating on shares of BeOne Medicines in a report on Thursday, August 6th. Finally, JPMorgan Chase & Co. raised their target price on BeOne Medicines from $425.00 to $445.00 and gave the stock an “overweight” rating in a research note on Thursday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $404.93.

BeOne Medicines Company Profile

BeOne Medicines Ltd. (NASDAQ: ONC) is a global oncology company focused on discovering, developing, manufacturing and commercializing medicines for people with cancer. The company operates across the research and development, clinical testing, regulatory and commercial stages of the biopharmaceutical industry, with an emphasis on treatments for blood cancers and solid tumors.

Its marketed portfolio includes BRUKINSA (zanubrutinib), a Bruton’s tyrosine kinase inhibitor used to treat several B-cell malignancies, and TEVIMBRA (tislelizumab), an immunotherapy targeting the PD-1 pathway for certain cancers.