Lazard Asset Management LLC Acquires 14,696 Shares of BeOne Medicines Ltd. – Sponsored ADR $ONC

Lazard Asset Management LLC boosted its holdings in shares of BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) by 30.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 62,917 shares of the company’s stock after purchasing an additional 14,696 shares during the quarter. Lazard Asset Management LLC’s holdings in BeOne Medicines were worth $18,684,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Mariner LLC grew its stake in shares of BeOne Medicines by 3.8% in the 4th quarter. Mariner LLC now owns 883 shares of the company’s stock worth $269,000 after buying an additional 32 shares in the last quarter. Signaturefd LLC raised its position in shares of BeOne Medicines by 10.7% during the 4th quarter. Signaturefd LLC now owns 340 shares of the company’s stock valued at $103,000 after buying an additional 33 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of BeOne Medicines by 21.8% during the 4th quarter. Farther Finance Advisors LLC now owns 218 shares of the company’s stock valued at $66,000 after buying an additional 39 shares in the last quarter. CWM LLC lifted its holdings in shares of BeOne Medicines by 32.8% in the 4th quarter. CWM LLC now owns 158 shares of the company’s stock valued at $48,000 after acquiring an additional 39 shares during the last quarter. Finally, Benjamin Edwards Inc. lifted its holdings in shares of BeOne Medicines by 8.0% in the 4th quarter. Benjamin Edwards Inc. now owns 690 shares of the company’s stock valued at $210,000 after acquiring an additional 51 shares during the last quarter. Institutional investors own 48.55% of the company’s stock.

BeOne Medicines Price Performance

Shares of ONC stock opened at $330.46 on Wednesday. The stock has a 50 day moving average price of $292.77 and a 200 day moving average price of $309.37. BeOne Medicines Ltd. – Sponsored ADR has a 52-week low of $253.95 and a 52-week high of $385.22. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.27 and a current ratio of 3.64. The firm has a market capitalization of $36.26 billion, a P/E ratio of 73.93 and a beta of 0.49.

BeOne Medicines (NASDAQ:ONC) last released its earnings results on Wednesday, April 1st. The company reported $0.25 earnings per share for the quarter. BeOne Medicines had a return on equity of 12.06% and a net margin of 8.94%.The business had revenue of $1.51 billion for the quarter. As a group, sell-side analysts predict that BeOne Medicines Ltd. – Sponsored ADR will post 5.93 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ONC. Citizens Jmp reissued a “market outperform” rating and set a $396.00 price objective on shares of BeOne Medicines in a research note on Wednesday, July 1st. Leerink Partners raised their price objective on BeOne Medicines from $364.00 to $367.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. Wall Street Zen upgraded BeOne Medicines from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 18th. Zacks Research cut BeOne Medicines from a “strong-buy” rating to a “hold” rating in a report on Friday, July 3rd. Finally, Wells Fargo & Company assumed coverage on BeOne Medicines in a research report on Monday, May 4th. They set an “overweight” rating and a $400.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $394.00.

Insider Activity

In related news, CEO John Oyler sold 145,861 shares of BeOne Medicines stock in a transaction dated Tuesday, July 14th. The shares were sold at an average price of $305.95, for a total transaction of $44,626,172.95. Following the completion of the sale, the chief executive officer owned 8,122 shares in the company, valued at $2,484,925.90. This trade represents a 94.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Xiaobin Wu sold 1,484 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were 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 directly owned 40 shares of the company’s stock, valued at approximately $10,774.80. This trade represents a 97.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 343,360 shares of company stock worth $104,926,209 in the last ninety days. 6.19% of the stock is currently owned by insiders.

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.