BeOne Medicines Ltd. – Sponsored ADR $ONC Stake Lifted by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. lifted its stake in shares of BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) by 109.6% during the third quarter, Holdings Channel.com reports. The fund owned 4,139 shares of the company’s stock after purchasing an additional 2,164 shares during the period. TD Waterhouse Canada Inc.’s holdings in BeOne Medicines were worth $1,484,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Trust Advisors LP lifted its position in BeOne Medicines by 91.9% in the first quarter. First Trust Advisors LP now owns 241,426 shares of the company’s stock worth $71,696,000 after purchasing an additional 115,601 shares during the period. Jennison Associates LLC boosted its stake in BeOne Medicines by 102.1% during the 1st quarter. Jennison Associates LLC now owns 154,465 shares of the company’s stock valued at $45,871,000 after purchasing an additional 78,027 shares in the last quarter. Renaissance Technologies LLC bought a new position in BeOne Medicines during the 1st quarter valued at $19,438,000. Candriam S.C.A. increased its position in shares of BeOne Medicines by 31.7% during the 1st quarter. Candriam S.C.A. now owns 259,731 shares of the company’s stock valued at $77,132,000 after purchasing an additional 62,470 shares during the period. Finally, SEB Asset Management AB acquired a new position in shares of BeOne Medicines during the 1st quarter valued at $16,653,000. Institutional investors own 48.55% of the company’s stock.

Insider Buying and Selling

In other BeOne Medicines news, insider Xiaodong Wang sold 38,287 shares of the business’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $349.10, for a total transaction of $13,365,991.70. Following the sale, the insider owned 6,079 shares in the company, valued at approximately $2,122,178.90. The trade was a 86.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Aaron Rosenberg sold 1,157 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $312.71, for a total value of $361,805.47. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 347,546 shares of company stock worth $124,285,659. Company insiders own 6.19% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on ONC. Wolfe Research reissued an “outperform” rating and issued a $370.00 price objective on shares of BeOne Medicines in a research note on Monday, August 10th. JPMorgan Chase & Co. upped their price objective on BeOne Medicines from $425.00 to $445.00 and gave the company an “overweight” rating in a report on Thursday, October 1st. TD Cowen raised their target price on BeOne Medicines from $424.00 to $454.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Weiss Ratings raised BeOne Medicines from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Finally, Nomura raised BeOne Medicines to a “strong-buy” rating in a report on Monday, July 27th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $407.07.

BeOne Medicines Stock Performance

Shares of NASDAQ ONC opened at $386.46 on Thursday. The company has a quick ratio of 3.06, a current ratio of 3.40 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $42.43 billion, a price-to-earnings ratio of 67.69 and a beta of 0.61. The stock’s fifty day simple moving average is $361.69 and its 200 day simple moving average is $323.50. BeOne Medicines Ltd. – Sponsored ADR has a 52-week low of $253.95 and a 52-week high of $388.66.

BeOne Medicines (NASDAQ:ONC) last announced its earnings results on Wednesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.66 billion. As a group, sell-side analysts forecast that BeOne Medicines Ltd. – Sponsored ADR will post 8.99 earnings per share for the current fiscal year.

BeOne Medicines Profile

BeOne Medicines Ltd. is a global oncology company focused on discovering, developing, manufacturing and commercializing medicines for cancer patients. Formerly known as BeiGene, the company operates an integrated biotechnology platform spanning research, clinical development, regulatory activities and commercial operations.

Its portfolio includes BRUKINSA (zanubrutinib), a Bruton’s tyrosine kinase inhibitor used in the treatment of several blood cancers, and TEVIMBRA (tislelizumab), an anti-PD-1 immunotherapy approved in multiple markets for certain cancers.