Beigene (NASDAQ:ONC) Shares Gap Up – Here’s Why

Beigene, Ltd. (NASDAQ:ONC)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $250.92, but opened at $264.02. Beigene shares last traded at $264.23, with a volume of 155,764 shares traded.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ONC shares. JMP Securities set a $348.00 target price on shares of Beigene in a research report on Friday, February 28th. Sanford C. Bernstein set a $259.00 target price on Beigene in a report on Thursday, March 13th. Guggenheim restated a “buy” rating on shares of Beigene in a research report on Friday, February 28th. Bank of America upgraded Beigene from a “neutral” rating to a “buy” rating and upped their price target for the company from $207.00 to $320.00 in a research report on Monday, March 3rd. Finally, Macquarie lifted their price objective on Beigene from $259.00 to $313.00 and gave the company an “outperform” rating in a report on Friday, February 28th.

Beigene Price Performance

The stock has a market cap of $26.38 billion, a price-to-earnings ratio of -32.45, a PEG ratio of 7.73 and a beta of 0.65. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.72 and a current ratio of 1.93.

Beigene (NASDAQ:ONC) last announced 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 firm had revenue of $1.13 billion during 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%. Equities research analysts forecast that Beigene, Ltd. will post -5.82 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Beigene news, SVP Chan Henry Lee sold 1,202 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $258.04, for a total transaction of $310,164.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Xiaobin Wu sold 51,921 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $261.59, for a total value of $13,582,014.39. The disclosure for this sale can be found here. Insiders sold a total of 1,052,367 shares of company stock worth $270,454,249 over the last three months. 7.43% of the stock is currently owned by company insiders.

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.