Beigene (NASDAQ:ONC) Shares Gap Up Following Analyst Upgrade

Beigene, Ltd. (NASDAQ:ONC)’s stock price gapped up prior to trading on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $311.00 to $317.00. The stock had previously closed at $229.22, but opened at $249.41. JPMorgan Chase & Co. currently has an overweight rating on the stock. Beigene shares last traded at $246.84, with a volume of 107,998 shares trading hands.

Several other research analysts have also weighed in on the stock. JMP Securities set a $348.00 price objective on shares of Beigene in a report on Friday, February 28th. Guggenheim reiterated a “buy” rating on shares of Beigene in a report on Wednesday, April 16th. Sanford C. Bernstein set a $259.00 price objective on Beigene in a report on Thursday, March 13th. Macquarie increased their target price on Beigene from $259.00 to $313.00 and gave the stock an “outperform” rating in a research report on Friday, February 28th. Finally, Bank of America raised Beigene from a “neutral” rating to a “buy” rating and boosted their price target for the company from $207.00 to $320.00 in a research report on Monday, March 3rd. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $316.71.

Insider Buying and Selling

In other Beigene news, SVP Chan Henry Lee sold 1,202 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $258.04, for a total value of $310,164.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bros. Advisors Lp Baker sold 732,827 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $260.00, for a total value of $190,535,020.00. Following the completion of the transaction, the director now directly owns 730,642 shares of the company’s stock, valued at $189,966,920. This represents a 50.07 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,146,048 shares of company stock valued at $295,198,300. Company insiders own 7.43% of the company’s stock.

Beigene Stock Performance

The company has a debt-to-equity ratio of 0.05, a current ratio of 1.93 and a quick ratio of 1.72. The company’s 50 day moving average is $246.29. The firm has a market cap of $24.61 billion, a P/E ratio of -30.20, a PEG ratio of 7.73 and a beta of 0.49.

Beigene (NASDAQ:ONC) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($1.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.55). The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.09 billion. Beigene had a negative net margin of 25.94% and a negative return on equity of 25.12%. On average, equities analysts forecast that Beigene, Ltd. will post -5.82 earnings per share for the current fiscal year.

About Beigene

BeiGene Ltd. Is a global oncology company, which engages in providing pharmaceutical products. Its medicines include BRUKINSA, TEVIMBRA, and PARTRUVIX. The company was founded by Xiao Dong Wang and John V. Oyler on October 28, 2010 and is headquartered in George Town, KY.