Jain Global LLC Sells 32,244 Shares of BeOne Medicines Ltd. – Sponsored ADR $ONC

Jain Global LLC lessened its stake in BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) by 54.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,197 shares of the company’s stock after selling 32,244 shares during the quarter. Jain Global LLC’s holdings in BeOne Medicines were worth $9,266,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Legal & General Group Plc acquired a new stake in BeOne Medicines during the second quarter worth about $13,857,000. Mirae Asset Global Investments Co. Ltd. raised its position in BeOne Medicines by 1,019.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,816 shares of the company’s stock valued at $14,587,000 after purchasing an additional 38,992 shares during the last quarter. Fiera Capital Corp boosted its position in BeOne Medicines by 20.1% during the 3rd quarter. Fiera Capital Corp now owns 25,117 shares of the company’s stock worth $8,557,000 after buying an additional 4,205 shares during the period. Virtus Investment Advisers LLC bought a new stake in shares of BeOne Medicines in the second quarter worth $389,000. Finally, Baird Financial Group Inc. acquired a new stake in shares of BeOne Medicines in the second quarter valued at about $82,895,000. 48.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on ONC. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BeOne Medicines in a research report on Wednesday, January 21st. Truist Financial boosted their price target on shares of BeOne Medicines from $400.00 to $412.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Morgan Stanley reissued an “overweight” rating and issued a $405.00 price objective on shares of BeOne Medicines in a research note on Thursday, January 8th. Guggenheim raised their price target on shares of BeOne Medicines from $400.00 to $410.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Finally, Barclays boosted their price objective on BeOne Medicines from $394.00 to $405.00 and gave the stock an “overweight” rating in a research report on Friday, February 27th. Ten research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $389.18.

BeOne Medicines Trading Up 2.0%

Shares of ONC stock opened at $289.65 on Tuesday. BeOne Medicines Ltd. – Sponsored ADR has a 12-month low of $196.45 and a 12-month high of $385.22. The company has a quick ratio of 3.08, a current ratio of 3.41 and a debt-to-equity ratio of 0.22. The business has a 50-day moving average price of $333.91 and a two-hundred day moving average price of $329.84. The firm has a market cap of $31.76 billion, a P/E ratio of 114.94 and a beta of 0.53.

BeOne Medicines (NASDAQ:ONC) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.58 EPS for the quarter, missing the consensus estimate of $1.60 by ($1.02). The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.45 billion. BeOne Medicines had a return on equity of 10.70% and a net margin of 5.37%. Equities analysts anticipate that BeOne Medicines Ltd. – Sponsored ADR will post -5.82 EPS for the current fiscal year.

Insider Activity

In other BeOne Medicines news, SVP Chan Henry Lee sold 1,660 shares of the business’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $349.52, for a total value of $580,203.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 2,665 shares of company stock worth $902,792 in the last ninety days. 6.62% of the stock is currently owned by company insiders.

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.