BeOne Medicines Ltd. – Sponsored ADR $ONC Stock Holdings Increased by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. increased its stake in BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) by 109.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,139 shares of the company’s stock after purchasing an additional 2,164 shares during the period. TD Waterhouse Canada Inc.’s holdings in BeOne Medicines were worth $1,484,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. TB Alternative Assets Ltd. acquired a new stake in BeOne Medicines in the third quarter worth $5,416,000. Mather Group LLC. lifted its stake in BeOne Medicines by 192.0% in the third quarter. Mather Group LLC. now owns 73 shares of the company’s stock valued at $27,000 after buying an additional 48 shares during the last quarter. Sanders Morris Harris LLC acquired a new position in shares of BeOne Medicines during the third quarter valued at $1,134,000. GAMMA Investing LLC boosted its holdings in shares of BeOne Medicines by 39.5% during the third quarter. GAMMA Investing LLC now owns 120 shares of the company’s stock valued at $44,000 after acquiring an additional 34 shares during the period. Finally, QRG Capital Management Inc. boosted its holdings in shares of BeOne Medicines by 13.6% during the second quarter. QRG Capital Management Inc. now owns 1,918 shares of the company’s stock valued at $547,000 after acquiring an additional 230 shares during the period. Institutional investors and hedge funds own 48.55% of the company’s stock.

Insiders Place Their Bets

In related news, insider Xiaodong Wang sold 38,287 shares of BeOne Medicines stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $349.10, for a total transaction of $13,365,991.70. Following the sale, the insider directly owned 6,079 shares in the company, valued at $2,122,178.90. The trade was a 86.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Aaron Rosenberg sold 1,157 shares of BeOne Medicines stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $312.71, for a total transaction of $361,805.47. 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 a total of 347,546 shares of company stock valued at $124,285,659 over the last three months. 6.19% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. TD Cowen increased their price objective 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. Weiss Ratings raised shares of BeOne Medicines from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Wolfe Research reissued an “outperform” rating and set a $370.00 target price on shares of BeOne Medicines in a research note on Monday, August 10th. Wall Street Zen upgraded shares of BeOne Medicines from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 18th. Finally, Royal Bank Of Canada raised their price target on shares of BeOne Medicines from $450.00 to $459.00 and gave the company an “outperform” rating in a research note on Thursday, October 8th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, BeOne Medicines currently has an average rating of “Buy” and a consensus price target of $407.07.

BeOne Medicines Stock Up 0.5%

Shares of BeOne Medicines stock opened at $386.46 on Thursday. The business’s fifty day moving average price is $361.69 and its two-hundred day moving average price is $323.50. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.40 and a quick ratio of 3.06. The company has a market capitalization of $42.43 billion, a P/E ratio of 67.69 and a beta of 0.61. BeOne Medicines Ltd. – Sponsored ADR has a 1-year low of $253.95 and a 1-year high of $388.66.

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

About BeOne Medicines

BeOne Medicines Ltd. is a global oncology company focused on discovering, developing, manufacturing and commercializing medicines for cancer patients. Formerly known as BeiGene, the company operates an integrated biotechnology platform spanning research, clinical development, regulatory activities and commercial operations.

Its portfolio includes BRUKINSA (zanubrutinib), a Bruton’s tyrosine kinase inhibitor used in the treatment of several blood cancers, and TEVIMBRA (tislelizumab), an anti-PD-1 immunotherapy approved in multiple markets for certain cancers.