Jennison Associates LLC Purchases 78,027 Shares of BeOne Medicines Ltd. – Sponsored ADR $ONC

Jennison Associates LLC boosted its position in BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) by 102.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 154,465 shares of the company’s stock after acquiring an additional 78,027 shares during the quarter. Jennison Associates LLC owned 0.14% of BeOne Medicines worth $45,871,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Assetmark Inc. increased its stake in shares of BeOne Medicines by 19.2% in the 1st quarter. Assetmark Inc. now owns 29,569 shares of the company’s stock valued at $8,781,000 after purchasing an additional 4,755 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in BeOne Medicines in the first quarter valued at about $201,000. Bank of New York Mellon Corp raised its stake in BeOne Medicines by 66.8% during the first quarter. Bank of New York Mellon Corp now owns 4,632 shares of the company’s stock worth $1,376,000 after acquiring an additional 1,855 shares in the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of BeOne Medicines by 3.4% in the first quarter. Sanctuary Advisors LLC now owns 2,982 shares of the company’s stock worth $886,000 after acquiring an additional 99 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in shares of BeOne Medicines by 13.4% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 898 shares of the company’s stock valued at $267,000 after purchasing an additional 106 shares in the last quarter. 48.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Lai Wang sold 1,068 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $276.74, for a total transaction of $295,558.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO John Oyler sold 145,861 shares of BeOne Medicines stock in a transaction dated Tuesday, July 14th. The stock was sold at an average price of $305.95, for a total value of $44,626,172.95. Following the transaction, the chief executive officer directly owned 8,122 shares in the company, valued at $2,484,925.90. The trade was a 94.73% 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 three months, insiders have sold 233,647 shares of company stock valued at $70,335,553. Company insiders own 6.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ONC shares. Truist Financial upped their price objective on shares of BeOne Medicines from $413.00 to $416.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Royal Bank Of Canada boosted their target price on shares of BeOne Medicines from $436.00 to $451.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 7th. Wall Street Zen upgraded shares of BeOne Medicines from a “buy” rating to a “strong-buy” rating in a report on Saturday. Weiss Ratings reiterated a “sell (d-)” rating on shares of BeOne Medicines in a research note on Friday. Finally, Zacks Research cut BeOne Medicines from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 3rd. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, BeOne Medicines has a consensus rating of “Moderate Buy” and a consensus target price of $390.92.

BeOne Medicines Trading Down 0.5%

ONC opened at $310.58 on Tuesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.64 and a quick ratio of 3.27. BeOne Medicines Ltd. – Sponsored ADR has a fifty-two week low of $253.95 and a fifty-two week high of $385.22. The company’s 50 day moving average price is $290.21 and its two-hundred day moving average price is $308.99. The firm has a market capitalization of $34.08 billion, a price-to-earnings ratio of 69.48 and a beta of 0.49.

BeOne Medicines (NASDAQ:ONC) last released its quarterly earnings results on Wednesday, April 1st. The company reported $0.25 earnings per share (EPS) for the quarter. The firm had revenue of $1.51 billion during the quarter. BeOne Medicines had a net margin of 8.94% and a return on equity of 12.06%. As a group, research analysts predict that BeOne Medicines Ltd. – Sponsored ADR will post 5.86 earnings per share for the current year.

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.