JPMorgan Chase & Co. Sells 47,002 Shares of BeOne Medicines Ltd. – Sponsored ADR $ONC

JPMorgan Chase & Co. trimmed its position in BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) by 49.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,812 shares of the company’s stock after selling 47,002 shares during the period. JPMorgan Chase & Co.’s holdings in BeOne Medicines were worth $16,630,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. bought a new stake in shares of BeOne Medicines during the 2nd quarter valued at $228,000. Geode Capital Management LLC purchased a new position in shares of BeOne Medicines in the 2nd quarter worth about $8,622,000. Creative Planning bought a new position in BeOne Medicines in the 2nd quarter worth about $1,448,000. Cetera Investment Advisers bought a new position in BeOne Medicines in the 2nd quarter worth about $455,000. Finally, Legal & General Group Plc purchased a new stake in BeOne Medicines during the 2nd quarter valued at about $13,857,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.

Insider Buying and Selling

In related news, SVP Chan Henry Lee sold 341 shares of the company’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $300.00, for a total transaction of $102,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 2,665 shares of company stock worth $902,792 in the last three months. 6.62% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Sanford C. Bernstein upgraded shares of BeOne Medicines from a “hold” rating to an “outperform” rating and set a $414.00 target price on the stock in a research note on Monday, January 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of BeOne Medicines in a research note on Wednesday, January 21st. Guggenheim lifted their target price on BeOne Medicines from $400.00 to $410.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Jefferies Financial Group cut BeOne Medicines from a “buy” rating to a “hold” rating and decreased their price target for the stock from $420.00 to $290.00 in a research note on Monday, March 16th. Finally, Barclays upped their price target on BeOne Medicines from $394.00 to $405.00 and gave the company an “overweight” rating in a report on Friday, February 27th. Ten analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $389.18.

BeOne Medicines Trading Up 2.8%

Shares of ONC stock opened at $283.45 on Thursday. The company has a current ratio of 3.41, a quick ratio of 3.08 and a debt-to-equity ratio of 0.22. BeOne Medicines Ltd. – Sponsored ADR has a 12-month low of $196.45 and a 12-month high of $385.22. The stock has a market capitalization of $31.10 billion, a P/E ratio of 112.48 and a beta of 0.53. The firm’s 50 day moving average is $326.25 and its 200 day moving average is $327.68.

BeOne Medicines (NASDAQ:ONC) last announced its earnings results on Thursday, February 26th. The company reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $1.60 by ($1.02). The company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.45 billion. BeOne Medicines had a net margin of 5.37% and a return on equity of 10.70%. Research analysts expect that BeOne Medicines Ltd. – Sponsored ADR will post -5.82 earnings per share for the current year.

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.