Wellington Management Group LLP Grows Position in BeOne Medicines Ltd. – Sponsored ADR $ONC

Wellington Management Group LLP lifted its position in shares of BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) by 9.2% during the second quarter, Holdings Channel.com reports. The firm owned 22,738 shares of the company’s stock after acquiring an additional 1,910 shares during the period. Wellington Management Group LLP’s holdings in BeOne Medicines were worth $6,480,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently modified their holdings of the company. Bank of America Corp DE purchased a new stake in shares of BeOne Medicines in the second quarter valued at approximately $67,657,000. Man Group plc acquired a new position in BeOne Medicines during the second quarter worth $59,031,000. BNP Paribas Financial Markets purchased a new position in BeOne Medicines during the second quarter valued at $38,337,000. First Trust Advisors LP lifted its holdings in BeOne Medicines by 91.9% during the first quarter. First Trust Advisors LP now owns 241,426 shares of the company’s stock valued at $71,696,000 after purchasing an additional 115,601 shares in the last quarter. Finally, Qube Research & Technologies Ltd purchased a new position in BeOne Medicines during the second quarter valued at $26,034,000. 48.55% of the stock is currently owned by institutional investors and hedge funds.

BeOne Medicines Trading Down 1.9%

ONC opened at $351.48 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.40 and a quick ratio of 3.06. The company’s 50 day simple moving average is $336.64 and its two-hundred day simple moving average is $311.42. BeOne Medicines Ltd. – Sponsored ADR has a 1-year low of $253.95 and a 1-year high of $385.22. The firm has a market capitalization of $38.59 billion, a price-to-earnings ratio of 61.88 and a beta of 0.51.

BeOne Medicines (NASDAQ:ONC) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.65. BeOne Medicines had a return on equity of 14.23% and a net margin of 10.70%.The business had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.66 billion. Analysts expect that BeOne Medicines Ltd. – Sponsored ADR will post 8.81 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Truist Financial boosted their target price on shares of BeOne Medicines from $416.00 to $418.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Barclays lifted their price objective on BeOne Medicines from $403.00 to $407.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Citizens Jmp increased their target price on BeOne Medicines from $396.00 to $405.00 and gave the company a “market outperform” rating in a report on Thursday, August 6th. Royal Bank Of Canada lowered their price target on BeOne Medicines from $451.00 to $450.00 and set an “outperform” rating on the stock in a research note on Thursday, August 6th. Finally, Leerink Partners increased their price objective on BeOne Medicines from $364.00 to $367.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. Three investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $402.14.

Insiders Place Their Bets

In other BeOne Medicines news, CEO John Oyler sold 145,861 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer directly owned 8,122 shares in the company, valued at $2,484,925.90. This represents a 94.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 579,683 shares of company stock worth $190,541,846 over the last quarter. Insiders own 6.19% of the company’s stock.

BeOne Medicines 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.