Beigene’s (ONC) Buy Rating Reaffirmed at Guggenheim

Beigene (NASDAQ:ONC)‘s stock had its “buy” rating reissued by equities researchers at Guggenheim in a note issued to investors on Wednesday,Benzinga reports.

ONC has been the topic of several other research reports. JMP Securities set a $348.00 price target on Beigene in a research note on Friday, February 28th. Macquarie increased their target price on shares of Beigene from $259.00 to $313.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th. Royal Bank of Canada initiated coverage on shares of Beigene in a research note on Monday, April 7th. They issued an “outperform” rating and a $312.00 price target on the stock. Sanford C. Bernstein set a $259.00 target price on shares of Beigene in a report on Thursday, March 13th. Finally, Bank of America upgraded Beigene from a “neutral” rating to a “buy” rating and upped their price target for the stock from $207.00 to $320.00 in a research note on Monday, March 3rd.

Beigene Stock Performance

Shares of ONC traded down $3.85 during mid-day trading on Wednesday, hitting $234.99. 51,207 shares of the company were exchanged, compared to its average volume of 484,378. The stock has a market cap of $23.19 billion, a PE ratio of -28.52, a price-to-earnings-growth ratio of 7.73 and a beta of 0.49. The firm’s 50 day simple moving average is $246.11. Beigene has a 1-year low of $126.97 and a 1-year high of $287.88. The company has a current ratio of 1.93, a quick ratio of 1.72 and a debt-to-equity ratio of 0.05.

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

Insider Buying and Selling

In other Beigene news, COO Xiaobin Wu sold 51,921 shares of Beigene stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $281.40, for a total transaction of $14,610,569.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bros. Advisors Lp Baker sold 732,827 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $260.00, for a total value of $190,535,020.00. Following the sale, the director now directly owns 730,642 shares in the company, valued at $189,966,920. This trade represents a 50.07 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,104,288 shares of company stock worth $285,064,819. Company insiders own 7.43% of the company’s stock.

Beigene Company Profile

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.