Long Corridor Asset Management Ltd Invests $11.50 Million in BeOne Medicines Ltd. – Sponsored ADR $ONC

Long Corridor Asset Management Ltd acquired a new position in shares of BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 47,500 shares of the company’s stock, valued at approximately $11,498,000. BeOne Medicines comprises about 4.1% of Long Corridor Asset Management Ltd’s investment portfolio, making the stock its 10th largest holding.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ONC. Primecap Management Co. CA acquired a new position in shares of BeOne Medicines during the second quarter worth approximately $1,231,720,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in BeOne Medicines during the 2nd quarter valued at $73,347,000. Candriam S.C.A. bought a new stake in BeOne Medicines in the 2nd quarter valued at $67,852,000. Artisan Partners Limited Partnership acquired a new stake in BeOne Medicines in the 2nd quarter worth $65,396,000. Finally, M&G PLC acquired a new stake in BeOne Medicines in the 2nd quarter worth $41,189,000. Institutional investors and hedge funds own 48.55% of the company’s stock.

Analysts Set New Price Targets

ONC has been the subject of several research reports. Barclays started coverage on shares of BeOne Medicines in a research note on Thursday, September 18th. They issued an “overweight” rating and a $385.00 target price for the company. Jefferies Financial Group reiterated a “buy” rating and issued a $420.00 price objective on shares of BeOne Medicines in a research report on Monday. Morgan Stanley lifted their price objective on BeOne Medicines from $350.00 to $383.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Citizens Jmp upped their target price on BeOne Medicines from $348.00 to $396.00 and gave the company a “market outperform” rating in a research note on Friday, November 7th. Finally, Citigroup lifted their price target on shares of BeOne Medicines from $399.00 to $405.00 and gave the stock a “buy” rating in a research note on Monday, November 10th. Eleven equities research analysts have rated the stock with a Buy rating, one has assigned 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 price target of $363.15.

Insiders Place Their Bets

In other BeOne Medicines news, SVP Chan Henry Lee sold 996 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $349.17, for a total transaction of $347,773.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO John Oyler sold 27,803 shares of the firm’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $325.71, for a total transaction of $9,055,715.13. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 81,254 shares of company stock worth $27,971,587 in the last quarter. 6.62% of the stock is owned by corporate insiders.

BeOne Medicines Stock Performance

Shares of NASDAQ:ONC opened at $349.29 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.39 and a quick ratio of 2.17. The business’s fifty day moving average price is $331.83 and its two-hundred day moving average price is $294.40. BeOne Medicines Ltd. – Sponsored ADR has a fifty-two week low of $170.99 and a fifty-two week high of $385.22. The stock has a market capitalization of $41.40 billion, a price-to-earnings ratio of 684.88 and a beta of 0.31.

BeOne Medicines Company 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.