Public Employees Retirement System of Ohio Invests $2.14 Million in BeOne Medicines Ltd. – Sponsored ADR $ONC

Public Employees Retirement System of Ohio bought a new stake in BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) during the second quarter, Holdings Channel reports. The institutional investor bought 7,498 shares of the company’s stock, valued at approximately $2,137,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Bank of America Corp DE purchased a new stake in shares of BeOne Medicines during the second quarter worth approximately $67,657,000. Man Group plc purchased a new position in BeOne Medicines in the 2nd quarter valued at $59,031,000. BNP Paribas Financial Markets acquired a new position in BeOne Medicines in the 2nd quarter valued at $38,337,000. First Trust Advisors LP increased its stake in BeOne Medicines by 91.9% in the 1st quarter. First Trust Advisors LP now owns 241,426 shares of the company’s stock valued at $71,696,000 after buying an additional 115,601 shares during the period. Finally, Qube Research & Technologies Ltd purchased a new position in BeOne Medicines during the 2nd quarter worth $26,034,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ONC shares. TD Cowen raised their target price on shares of BeOne Medicines from $424.00 to $454.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Truist Financial boosted their price target 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. Guggenheim increased their price target on shares of BeOne Medicines from $420.00 to $430.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Morgan Stanley restated an “overweight” rating on shares of BeOne Medicines in a research report on Thursday, August 6th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BeOne Medicines in a report on Friday, July 17th. Three research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $402.14.

Insider Transactions at BeOne Medicines

In other BeOne Medicines news, insider Titus B. Ball sold 132 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $355.86, for a total value of $46,973.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Xiaobin Wu sold 280 shares of BeOne Medicines stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $380.00, for a total transaction of $106,400.00. 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 579,683 shares of company stock valued at $190,541,846. 6.19% of the stock is owned by company insiders.

BeOne Medicines Stock Performance

NASDAQ:ONC opened at $358.26 on Monday. BeOne Medicines Ltd. – Sponsored ADR has a 1 year low of $253.95 and a 1 year high of $385.22. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.06 and a current ratio of 3.40. The stock has a fifty day moving average price of $333.94 and a two-hundred day moving average price of $311.45. The stock has a market capitalization of $39.33 billion, a price-to-earnings ratio of 63.07 and a beta of 0.51.

BeOne Medicines (NASDAQ:ONC) last issued its earnings results on Wednesday, August 5th. The company reported $2.05 EPS for the quarter, topping the consensus estimate of $1.40 by $0.65. BeOne Medicines had a net margin of 10.70% and a return on equity of 14.23%. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.66 billion. As a group, sell-side analysts anticipate that BeOne Medicines Ltd. – Sponsored ADR will post 8.81 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.