16,254 Shares in BeOne Medicines Ltd. – Sponsored ADR $ONC Purchased by Franklin Resources Inc.

Franklin Resources Inc. bought a new stake in BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) during the 2nd quarter, HoldingsChannel reports. The fund bought 16,254 shares of the company’s stock, valued at approximately $3,935,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in ONC. Legal & General Group Plc bought a new position in BeOne Medicines in the second quarter valued at approximately $13,857,000. Slow Capital Inc. acquired a new stake in shares of BeOne Medicines in the 2nd quarter valued at $4,377,000. Public Employees Retirement System of Ohio acquired a new stake in shares of BeOne Medicines in the 2nd quarter valued at $3,491,000. Fox Run Management L.L.C. bought a new position in shares of BeOne Medicines in the 2nd quarter valued at $496,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of BeOne Medicines during the 2nd quarter worth $926,000. 48.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO John Oyler sold 27,803 shares of the firm’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $325.71, for a total transaction of $9,055,715.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Corazon (Corsee) D. Sanders sold 2,627 shares of BeOne Medicines stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $340.90, for a total value of $895,544.30. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 83,759 shares of company stock worth $28,827,266. Company insiders own 6.62% of the company’s stock.

BeOne Medicines Stock Performance

NASDAQ:ONC opened at $330.18 on Wednesday. The stock’s 50-day moving average is $332.69 and its 200-day moving average is $301.18. BeOne Medicines Ltd. – Sponsored ADR has a 1-year low of $170.99 and a 1-year high of $385.22. The company has a current ratio of 2.39, a quick ratio of 2.17 and a debt-to-equity ratio of 0.03. The stock has a market cap of $39.14 billion, a P/E ratio of 647.41 and a beta of 0.45.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ONC. Royal Bank Of Canada raised their price objective on BeOne Medicines from $395.00 to $408.00 and gave the company an “outperform” rating in a research note on Tuesday, November 18th. JPMorgan Chase & Co. increased their target price on shares of BeOne Medicines from $345.00 to $385.00 and gave the stock an “overweight” rating in a report on Wednesday, October 8th. Jefferies Financial Group reaffirmed a “buy” rating and set a $420.00 price target on shares of BeOne Medicines in a report on Monday, November 17th. Zacks Research cut shares of BeOne Medicines from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 28th. Finally, Citizens Jmp increased their price objective on shares of BeOne Medicines from $348.00 to $396.00 and gave the company a “market outperform” rating in a research note on Friday, November 7th. Twelve research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, BeOne Medicines has an average rating of “Moderate Buy” and an average price target of $365.79.

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.