Persistent Asset Partners Ltd Makes New $607,000 Investment in BeOne Medicines Ltd. – Sponsored ADR $ONC

Persistent Asset Partners Ltd purchased a new position in shares of BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) in the fourth quarter, Holdings Channel reports. The fund purchased 1,999 shares of the company’s stock, valued at approximately $607,000.

Other institutional investors also recently added to or reduced their stakes in the company. Capital International Investors boosted its holdings in shares of BeOne Medicines by 1.3% in the fourth quarter. Capital International Investors now owns 5,113,866 shares of the company’s stock valued at $1,553,909,000 after acquiring an additional 67,808 shares in the last quarter. Siren L.L.C. boosted its holdings in shares of BeOne Medicines by 1.4% in the fourth quarter. Siren L.L.C. now owns 500,000 shares of the company’s stock valued at $151,905,000 after acquiring an additional 7,010 shares in the last quarter. Morgan Stanley boosted its holdings in shares of BeOne Medicines by 23.9% in the fourth quarter. Morgan Stanley now owns 437,661 shares of the company’s stock valued at $132,966,000 after acquiring an additional 84,367 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of BeOne Medicines by 23.5% in the third quarter. Bank of America Corp DE now owns 345,256 shares of the company’s stock valued at $117,629,000 after acquiring an additional 65,763 shares in the last quarter. Finally, Man Group plc bought a new position in shares of BeOne Medicines in the second quarter valued at approximately $59,031,000. Institutional investors and hedge funds own 48.55% of the company’s stock.

Wall Street Analysts Forecast Growth

ONC has been the subject of several recent analyst reports. Guggenheim increased their price objective on shares of BeOne Medicines from $410.00 to $420.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Leerink Partners increased their price objective on shares of BeOne Medicines from $364.00 to $367.00 and gave the company an “outperform” rating in a report on Friday, May 15th. Zacks Research raised BeOne Medicines from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 4th. Wolfe Research initiated coverage on BeOne Medicines in a report on Friday, March 27th. They set an “outperform” rating and a $340.00 target price on the stock. Finally, Truist Financial reaffirmed a “buy” rating and set a $413.00 target price (up from $411.00) on shares of BeOne Medicines in a report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $390.00.

BeOne Medicines Price Performance

NASDAQ ONC opened at $263.92 on Wednesday. The stock has a market capitalization of $28.96 billion, a P/E ratio of 59.04 and a beta of 0.49. BeOne Medicines Ltd. – Sponsored ADR has a 1 year low of $239.25 and a 1 year high of $385.22. The business’s fifty day moving average is $297.63 and its two-hundred day moving average is $313.49. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.27 and a current ratio of 3.64.

BeOne Medicines (NASDAQ:ONC) last posted its quarterly earnings results on Wednesday, April 1st. The company reported $0.25 earnings per share (EPS) for the quarter. The company had revenue of $1.51 billion for the quarter. BeOne Medicines had a return on equity of 12.06% and a net margin of 8.94%. On average, research analysts forecast that BeOne Medicines Ltd. – Sponsored ADR will post 6.14 earnings per share for the current fiscal year.

Insider Activity at BeOne Medicines

In other BeOne Medicines news, insider Titus B. Ball sold 169 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $257.20, for a total transaction of $43,466.80. Following the completion of the sale, the insider directly owned 99,645 shares of the company’s stock, valued at approximately $25,628,694. This represents a 0.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Lai Wang sold 756 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $261.00, for a total transaction of $197,316.00. Following the sale, the insider directly owned 1,710,085 shares of the company’s stock, valued at $446,332,185. This represents a 0.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 14,657 shares of company stock valued at $3,959,036. Corporate insiders own 6.19% of the company’s stock.

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. The company was founded by Xiao Dong Wang and John V. Oyler on October 28, 2010 and is headquartered in Basel, Switzerland.