Beigene (NASDAQ:ONC) Shares Gap Up – Should You Buy?

Beigene, Ltd. (NASDAQ:ONC)’s share price gapped up prior to trading 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 changing hands.

Analyst Upgrades and Downgrades

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

Beigene Price Performance

The stock has a market cap of $26.14 billion, a P/E ratio of -32.16, a price-to-earnings-growth ratio of 7.73 and a beta of 0.65. 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 earnings results on Thursday, February 27th. The company reported ($1.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.55). Beigene had a negative net margin of 25.94% and a negative return on equity of 25.12%. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.09 billion. On average, research analysts expect that Beigene, Ltd. will post -5.82 earnings per share for the current year.

Insider Activity at Beigene

In other Beigene news, COO Xiaobin Wu sold 21,267 shares of Beigene stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $240.07, for a total value of $5,105,568.69. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Bros. Advisors Lp Baker sold 732,827 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $260.00, for a total transaction of $190,535,020.00. Following the transaction, the director now owns 730,642 shares of the company’s stock, valued at approximately $189,966,920. This represents a 50.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,052,367 shares of company stock valued at $270,454,249. 7.43% of the stock is owned by corporate 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.