Wall Street Zen Upgrades Beigene (NASDAQ:ONC) to "Buy"

Beigene (NASDAQ:ONC - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Thursday.

Several other research analysts have also commented on ONC. Guggenheim upped their price objective on shares of Beigene from $348.00 to $350.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Macquarie boosted their price target on shares of Beigene from $259.00 to $313.00 and gave the company an "outperform" rating in a research report on Friday, February 28th. JPMorgan Chase & Co. raised their price objective on shares of Beigene from $311.00 to $317.00 and gave the stock an "overweight" rating in a report on Monday, April 21st. JMP Securities set a $348.00 target price on Beigene in a report on Friday, February 28th. Finally, Royal Bank of Canada lowered their target price on Beigene from $312.00 to $311.00 and set an "outperform" rating for the company in a research note on Thursday, May 8th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Beigene currently has a consensus rating of "Buy" and an average target price of $319.00.

Beigene Price Performance

NASDAQ ONC traded down $3.27 during trading hours on Thursday, reaching $238.16. 136,432 shares of the stock traded hands, compared to its average volume of 462,960. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.72 and a current ratio of 1.93. The firm has a 50 day moving average price of $240.86. Beigene has a 1 year low of $141.31 and a 1 year high of $287.88. The firm has a market cap of $23.59 billion, a P/E ratio of -28.90, a price-to-earnings-growth ratio of 7.73 and a beta of 0.35.

Beigene (NASDAQ:ONC - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.71) by $1.93. The firm had revenue of $1.12 billion for the quarter, compared to analysts' expectations of $1.12 billion. Beigene had a negative return on equity of 25.12% and a negative net margin of 25.94%. On average, sell-side analysts forecast that Beigene will post -5.82 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Xiaodong Wang sold 41,760 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $223.50, for a total transaction of $9,333,360.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Xiaobin Wu sold 51,921 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $281.40, for a total value of $14,610,569.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,129,685 shares of company stock worth $290,450,134. Corporate insiders own 6.62% 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.