Jefferies Financial Group Inc. Buys 11,800 Shares of BeOne Medicines Ltd. – Sponsored ADR $ONC

Jefferies Financial Group Inc. boosted its position in BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) by 184.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,200 shares of the company’s stock after acquiring an additional 11,800 shares during the quarter. Jefferies Financial Group Inc.’s holdings in BeOne Medicines were worth $6,660,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. First Trust Advisors LP raised its holdings in shares of 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. Jennison Associates LLC raised its holdings in BeOne Medicines by 102.1% in the first quarter. Jennison Associates LLC now owns 154,465 shares of the company’s stock valued at $45,871,000 after buying an additional 78,027 shares during the period. Renaissance Technologies LLC purchased a new position in BeOne Medicines in the first quarter valued at approximately $19,438,000. SEB Asset Management AB purchased a new position in BeOne Medicines in the first quarter valued at approximately $16,653,000. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of BeOne Medicines by 96.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 110,586 shares of the company’s stock worth $32,841,000 after acquiring an additional 54,260 shares in the last quarter. Hedge funds and other institutional investors own 48.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ONC shares. Wolfe Research reissued an “outperform” rating and issued a $370.00 target price on shares of BeOne Medicines in a research note on Monday, August 10th. Wells Fargo & Company boosted their price objective on BeOne Medicines from $400.00 to $435.00 and gave the stock an “overweight” rating in a research note on Friday, November 6th. TD Cowen upped 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. Wall Street Zen raised BeOne Medicines from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 18th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $470.00 target price on shares of BeOne Medicines in a research note on Thursday, November 5th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $436.92.

Insider Activity

In other news, COO Xiaobin Wu sold 280 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $380.00, for a total transaction of $106,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Xiaodong Wang sold 38,287 shares of BeOne Medicines stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $349.10, for a total value of $13,365,991.70. Following the sale, the insider directly owned 6,079 shares in the company, valued at approximately $2,122,178.90. The trade was a 86.30% 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. Over the last 90 days, insiders have sold 135,571 shares of company stock worth $48,487,792. 6.19% of the stock is owned by corporate insiders.

BeOne Medicines Trading Down 1.0%

ONC opened at $415.96 on Friday. The firm’s 50 day moving average is $368.10 and its 200-day moving average is $327.94. BeOne Medicines Ltd. – Sponsored ADR has a 52-week low of $253.95 and a 52-week high of $424.73. The company has a quick ratio of 3.19, a current ratio of 3.55 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $45.67 billion, a P/E ratio of 51.03 and a beta of 0.63.

BeOne Medicines (NASDAQ:ONC) last announced its earnings results on Thursday, November 5th. The company reported $3.64 earnings per share for the quarter, beating the consensus estimate of $2.34 by $1.30. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.76 billion. BeOne Medicines had a net margin of 13.86% and a return on equity of 19.04%. Analysts expect that BeOne Medicines Ltd. – Sponsored ADR will post 8.99 EPS for the current fiscal year.

About BeOne Medicines

BeOne Medicines, formerly known as BeiGene, is a global biotechnology company focused on discovering, developing, manufacturing and commercializing cancer medicines. Founded in Beijing in 2010, the company has expanded its research and commercial operations across multiple regions, including the United States, Europe and Asia. Its marketed products include Brukinsa (zanubrutinib), a targeted therapy for certain blood cancers, and Tevimbra (tislelizumab), an immunotherapy used to treat several types of cancer.