Beigene (NASDAQ:ONC) Earns Outperform Rating from Royal Bank of Canada

Beigene (NASDAQ:ONC)‘s stock had its “outperform” rating reissued by investment analysts at Royal Bank of Canada in a research note issued on Monday,Benzinga reports. They currently have a $312.00 price target on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 24.87% from the company’s previous close.

A number of other equities analysts have also recently weighed in on the company. JMP Securities set a $348.00 price target on Beigene in a report on Friday, February 28th. TD Securities reaffirmed a “buy” rating and issued a $334.00 price objective on shares of Beigene in a research note on Thursday. Guggenheim reaffirmed a “buy” rating on shares of Beigene in a research report on Wednesday, April 16th. JPMorgan Chase & Co. raised their price objective on shares of Beigene from $311.00 to $317.00 and gave the company an “overweight” rating in a report on Monday, April 21st. Finally, Macquarie increased their target price on Beigene from $259.00 to $313.00 and gave the company an “outperform” rating in a report on Friday, February 28th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $318.88.

Beigene Price Performance

Shares of Beigene stock traded up $4.95 during trading on Monday, reaching $249.85. 77,397 shares of the stock traded hands, compared to its average volume of 485,873. The firm’s fifty day moving average price is $247.84. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.93 and a quick ratio of 1.72. Beigene has a 52-week low of $141.31 and a 52-week high of $287.88. The firm has a market cap of $24.70 billion, a P/E ratio of -30.32, a price-to-earnings-growth ratio of 7.73 and a beta of 0.49.

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

Insiders Place Their Bets

In other Beigene news, COO Xiaobin Wu sold 51,921 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $281.40, for a total value of $14,610,569.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Chan Henry Lee sold 1,202 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $258.04, for a total transaction of $310,164.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,146,048 shares of company stock worth $295,198,300. Company insiders own 6.62% 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.