Sanders Morris Harris LLC Makes New Investment in BeOne Medicines Ltd. – Sponsored ADR $ONC

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

Several other institutional investors have also recently made changes to their positions in ONC. Bank of America Corp DE grew its position in shares of BeOne Medicines by 7.0% in the first quarter. Bank of America Corp DE now owns 405,273 shares of the company’s stock valued at $120,354,000 after purchasing an additional 26,441 shares in the last quarter. Baird Financial Group Inc. lifted its holdings in BeOne Medicines by 5.5% during the 2nd quarter. Baird Financial Group Inc. now owns 368,978 shares of the company’s stock worth $105,148,000 after purchasing an additional 19,327 shares in the last quarter. Candriam S.C.A. boosted its stake in BeOne Medicines by 31.7% in the 1st quarter. Candriam S.C.A. now owns 259,731 shares of the company’s stock worth $77,132,000 after purchasing an additional 62,470 shares during the period. First Trust Advisors LP boosted its stake in BeOne Medicines by 91.9% in the 1st quarter. First Trust Advisors LP now owns 241,426 shares of the company’s stock worth $71,696,000 after purchasing an additional 115,601 shares during the period. Finally, Jennison Associates LLC boosted its stake in BeOne Medicines by 102.1% in the 1st quarter. Jennison Associates LLC now owns 154,465 shares of the company’s stock worth $45,871,000 after purchasing an additional 78,027 shares during the period. Hedge funds and other institutional investors own 48.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ONC shares. Wall Street Zen upgraded BeOne Medicines from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 18th. JPMorgan Chase & Co. boosted their price objective on shares of BeOne Medicines from $425.00 to $445.00 and gave the company an “overweight” rating in a research note on Thursday, October 1st. Guggenheim boosted their price objective on shares of BeOne Medicines from $420.00 to $430.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Truist Financial lifted their price objective on BeOne Medicines from $418.00 to $420.00 and gave the company a “buy” rating in a research note on Wednesday, October 7th. Finally, TD Cowen boosted their target price on BeOne Medicines from $424.00 to $454.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, BeOne Medicines currently has an average rating of “Buy” and an average target price of $404.93.

Insider Buying and Selling

In other BeOne Medicines news, insider Titus B. Ball sold 132 shares of the stock in a transaction that occurred on 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 legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO John Oyler sold 54,892 shares of BeOne Medicines stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $358.15, for a total transaction of $19,659,569.80. Following the transaction, the chief executive officer directly owned 240,743 shares in the company, valued at $86,222,105.45. This trade represents a 18.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 426,232 shares of company stock worth $147,986,148 over the last ninety days. Corporate insiders own 6.19% of the company’s stock.

BeOne Medicines Price Performance

Shares of BeOne Medicines stock traded up $2.40 on Wednesday, hitting $351.48. 361,611 shares of the company traded hands, compared to its average volume of 306,147. BeOne Medicines Ltd. – Sponsored ADR has a 12-month low of $253.95 and a 12-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 cap of $38.59 billion, a P/E ratio of 61.88 and a beta of 0.61. The firm’s 50-day simple moving average is $358.64 and its 200 day simple moving average is $320.15.

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 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 business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.66 billion. Analysts expect that BeOne Medicines Ltd. – Sponsored ADR will post 8.99 earnings per share for the current fiscal year.

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.