Oppenheimer Asset Management Inc. Raises Position in BeOne Medicines Ltd. – Sponsored ADR $ONC

Oppenheimer Asset Management Inc. grew its position in BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) by 7.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,674 shares of the company’s stock after acquiring an additional 2,137 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in BeOne Medicines were worth $10,791,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ONC. Primecap Management Co. CA purchased a new position in BeOne Medicines during the second quarter worth approximately $1,231,720,000. Temasek Holdings Private Ltd purchased a new position in shares of BeOne Medicines during the 2nd quarter worth approximately $244,603,000. Marshall Wace LLP purchased a new position in shares of BeOne Medicines during the second quarter worth $113,190,000. Baird Financial Group Inc. acquired a new position in BeOne Medicines in the 2nd quarter valued at about $82,895,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in BeOne Medicines during the 2nd quarter worth approximately $73,347,000. 48.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at BeOne Medicines

In related news, SVP Chan Henry Lee sold 1,660 shares of BeOne Medicines stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $349.52, for a total transaction of $580,203.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Xiaobin Wu sold 10,000 shares of BeOne Medicines stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $356.02, for a total value of $3,560,200.00. Following the sale, the chief operating officer owned 6,009 shares in the company, valued at $2,139,324.18. This trade represents a 62.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 130,270 shares of company stock valued at $41,694,271. Corporate insiders own 6.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Citigroup boosted their price target on shares of BeOne Medicines from $399.00 to $405.00 and gave the stock a “buy” rating in a research note on Monday, November 10th. Citizens Jmp boosted their target price on BeOne Medicines from $348.00 to $396.00 and gave the stock a “market outperform” rating in a research note on Friday, November 7th. Morgan Stanley restated an “overweight” rating and set a $405.00 price target on shares of BeOne Medicines in a report on Thursday, January 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of BeOne Medicines in a research note on Wednesday, January 21st. Finally, Zacks Research downgraded BeOne Medicines from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 28th. Thirteen 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $379.07.

BeOne Medicines Stock Performance

Shares of ONC opened at $348.85 on Tuesday. The company has a market capitalization of $38.25 billion, a price-to-earnings ratio of 684.02 and a beta of 0.52. BeOne Medicines Ltd. – Sponsored ADR has a 52-week low of $196.45 and a 52-week high of $385.22. The company has a quick ratio of 2.17, a current ratio of 2.39 and a debt-to-equity ratio of 0.03. The stock has a 50 day moving average price of $328.20 and a 200 day moving average price of $325.72.

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.