Beigene (NASDAQ:ONC) Trading 4.2% Higher – Here’s Why

Beigene, Ltd. (NASDAQ:ONC)’s share price traded up 4.2% during mid-day trading on Friday . The company traded as high as $274.00 and last traded at $273.67. 80,645 shares were traded during trading, a decline of 82% from the average session volume of 440,196 shares. The stock had previously closed at $262.60.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Bank of America upgraded shares of Beigene from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $207.00 to $320.00 in a research note on Monday, March 3rd. Macquarie lifted their price target on shares of Beigene from $259.00 to $313.00 and gave the company an “outperform” rating in a research note on Friday, February 28th. Sanford C. Bernstein set a $259.00 price objective on shares of Beigene in a research report on Thursday, March 13th. JMP Securities set a $348.00 price target on Beigene in a research note on Friday, February 28th. Finally, Guggenheim reissued a “buy” rating on shares of Beigene in a research note 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 posted its earnings results on Thursday, February 27th. The company reported ($1.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.55). The company 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%. On average, equities analysts expect that Beigene, Ltd. will post -5.82 earnings per share for the current year.

Insider Activity

In other news, insider Lai Wang sold 5,000 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $257.23, for a total transaction of $1,286,150.00. Following the completion of the sale, the insider now directly owns 920,920 shares of the company’s stock, valued at $236,888,251.60. This trade represents a 0.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Xiaobin Wu sold 30,654 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $240.74, for a total transaction of $7,379,643.96. 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 quarter. Insiders own 7.43% of the company’s stock.

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.