Generali Investments Management Co LLC Buys Shares of 8,000 BeOne Medicines Ltd. – Sponsored ADR $ONC

by · The Cerbat Gem

Generali Investments Management Co LLC bought a new position in BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 8,000 shares of the company’s stock, valued at approximately $2,280,000.

Other large investors have also made changes to their positions in the company. Cetera Investment Advisers purchased a new stake in shares of BeOne Medicines during the 2nd quarter valued at about $455,000. Rhumbline Advisers purchased a new position in shares of BeOne Medicines in the second quarter worth approximately $275,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of BeOne Medicines in the second quarter worth approximately $505,000. Invesco Ltd. purchased a new position in shares of BeOne Medicines in the second quarter worth approximately $422,000. Finally, EverSource Wealth Advisors LLC bought a new stake in BeOne Medicines during the second quarter valued at approximately $68,000. 48.55% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on ONC. Citizens Jmp increased their price target on shares of BeOne Medicines from $396.00 to $405.00 and gave the stock a “market outperform” rating in a research report on Thursday, August 6th. Morgan Stanley reissued an “overweight” rating on shares of BeOne Medicines in a research report on Thursday. Guggenheim upped their price objective on BeOne Medicines from $420.00 to $430.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Wall Street Zen raised BeOne Medicines from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 18th. Finally, JPMorgan Chase & Co. raised their target price on BeOne Medicines from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $402.14.

Get Our Latest Stock Analysis on BeOne Medicines

BeOne Medicines Trading Up 3.1%

Shares of BeOne Medicines stock opened at $359.00 on Tuesday. The company has a market capitalization of $39.39 billion, a P/E ratio of 63.20 and a beta of 0.49. 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 company has a fifty day moving average of $298.11 and a 200 day moving average of $308.86. BeOne Medicines Ltd. – Sponsored ADR has a fifty-two week low of $253.95 and a fifty-two week high of $385.22.

BeOne Medicines (NASDAQ:ONC – Get Free Report) last issued its quarterly 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. The business had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.66 billion. BeOne Medicines had a return on equity of 14.23% and a net margin of 10.70%. On average, sell-side analysts anticipate that BeOne Medicines Ltd. – Sponsored ADR will post 7.3 earnings per share for the current fiscal year.

Insider Transactions at BeOne Medicines

In related news, COO Xiaobin Wu sold 1,484 shares of the stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $269.37, for a total transaction of $399,745.08. Following the completion of the sale, the chief operating officer owned 40 shares in the company, valued at approximately $10,774.80. This trade represents a 97.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO John Oyler sold 145,861 shares of BeOne Medicines stock in a transaction that occurred on Tuesday, July 14th. The shares were sold at an average price of $305.95, for a total value of $44,626,172.95. Following the sale, the chief executive officer directly owned 8,122 shares in the company, valued at $2,484,925.90. This trade represents a 94.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 345,561 shares of company stock valued at $105,625,947. Corporate insiders own 6.19% of the company’s stock.

About BeOne Medicines

(Free Report)

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.

See Also

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