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 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 154,465 shares of the company’s stock after buying an additional 78,027 shares during the period. Jennison Associates LLC’s holdings in BeOne Medicines were worth $45,871,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. EFG International AG bought a new position in shares of BeOne Medicines in the 4th quarter worth about $25,000. Leonteq Securities AG acquired a new stake in BeOne Medicines during the fourth quarter worth approximately $35,000. Daiwa Securities Group Inc. acquired a new stake in BeOne Medicines during the second quarter worth approximately $35,000. CWM LLC increased its holdings in BeOne Medicines by 32.8% in the fourth quarter. CWM LLC now owns 158 shares of the company’s stock worth $48,000 after purchasing an additional 39 shares in the last quarter. Finally, Group One Trading LLC bought a new stake in BeOne Medicines in the fourth quarter worth approximately $61,000. Institutional investors own 48.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ONC shares. Wells Fargo & Company began coverage on BeOne Medicines in a report on Monday, May 4th. They set an “overweight” rating and a $400.00 price target on the stock. Wolfe Research started coverage on shares of BeOne Medicines in a research report on Friday, March 27th. They set an “outperform” rating and a $340.00 target price on the stock. Zacks Research lowered shares of BeOne Medicines from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 3rd. Leerink Partners raised their price target on shares of BeOne Medicines from $364.00 to $367.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. Finally, Truist Financial raised their price target on shares of BeOne Medicines from $413.00 to $416.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, BeOne Medicines currently has an average rating of “Moderate Buy” and a consensus target price of $390.92.

Insider Activity at BeOne Medicines

In other BeOne Medicines news, COO Xiaobin Wu sold 1,292 shares of the stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $276.26, for a total transaction of $356,927.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Chan Henry Lee sold 664 shares of the stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $302.46, for a total value of $200,833.44. Following the transaction, the senior vice president owned 202 shares of the company’s stock, valued at $61,096.92. The trade was a 76.67% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 233,647 shares of company stock worth $70,335,553. 6.19% of the stock is currently owned by company insiders.

BeOne Medicines Stock Down 0.5%

Shares of NASDAQ:ONC opened at $310.58 on Tuesday. The business’s 50 day moving average is $290.21 and its 200 day moving average is $308.99. BeOne Medicines Ltd. – Sponsored ADR has a 12-month low of $253.95 and a 12-month high of $385.22. The stock has a market cap of $34.08 billion, a price-to-earnings ratio of 69.48 and a beta of 0.49. The company has a quick ratio of 3.27, a current ratio of 3.64 and a debt-to-equity ratio of 0.20.

BeOne Medicines (NASDAQ:ONC) last posted its quarterly earnings data on Wednesday, April 1st. The company reported $0.25 EPS for the quarter. BeOne Medicines had a net margin of 8.94% and a return on equity of 12.06%. The firm had revenue of $1.51 billion during the quarter. On average, sell-side analysts forecast that BeOne Medicines Ltd. – Sponsored ADR will post 5.86 earnings per share for the current fiscal year.

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