Long Corridor Asset Management Ltd Takes Position in BeOne Medicines Ltd. – Sponsored ADR $ONC

Long Corridor Asset Management Ltd purchased a new position in shares of BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 47,500 shares of the company’s stock, valued at approximately $11,498,000. BeOne Medicines makes up approximately 4.1% of Long Corridor Asset Management Ltd’s holdings, making the stock its 10th largest position.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Slow Capital Inc. bought a new position in shares of BeOne Medicines in the second quarter worth about $4,377,000. Public Employees Retirement System of Ohio acquired a new stake in shares of BeOne Medicines in the second quarter valued at approximately $3,491,000. Fox Run Management L.L.C. bought a new position in BeOne Medicines in the 2nd quarter worth approximately $496,000. Sequoia Financial Advisors LLC acquired a new position in BeOne Medicines during the 2nd quarter worth $298,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in BeOne Medicines in the 2nd quarter valued at $926,000. Institutional investors own 48.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ONC. JPMorgan Chase & Co. boosted their target price on BeOne Medicines from $345.00 to $385.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. Jefferies Financial Group reissued a “buy” rating and set a $420.00 price objective on shares of BeOne Medicines in a report on Monday. Royal Bank Of Canada upped their target price on shares of BeOne Medicines from $395.00 to $408.00 and gave the company an “outperform” rating in a research report on Tuesday. Citizens Jmp lifted their price target on shares of BeOne Medicines from $348.00 to $396.00 and gave the stock a “market outperform” rating in a research report on Friday, November 7th. Finally, Wall Street Zen upgraded shares of BeOne Medicines from a “buy” rating to a “strong-buy” rating in a report on Friday, October 3rd. Eleven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, BeOne Medicines presently has an average rating of “Moderate Buy” and an average price target of $363.15.

BeOne Medicines Stock Down 1.3%

BeOne Medicines stock opened at $349.29 on Friday. The firm has a market capitalization of $41.40 billion, a price-to-earnings ratio of 684.88 and a beta of 0.31. The company’s 50 day simple moving average is $331.83 and its 200 day simple moving average is $294.40. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.39 and a quick ratio of 2.17. BeOne Medicines Ltd. – Sponsored ADR has a fifty-two week low of $170.99 and a fifty-two week high of $385.22.

Insider Buying and Selling at BeOne Medicines

In other news, CEO John Oyler sold 27,803 shares of BeOne Medicines stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $325.71, for a total value of $9,055,715.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Corazon (Corsee) D. Sanders sold 2,665 shares of the stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $337.00, for a total value of $898,105.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 81,254 shares of company stock worth $27,971,587 in the last quarter. Company insiders own 6.62% of the company’s stock.

About BeOne Medicines

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.