Beigene (NASDAQ:ONC) Shares Gap Up on Analyst Upgrade

Beigene, Ltd. (NASDAQ:ONC - Get Free Report)'s share price gapped up prior to trading on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $311.00 to $317.00. The stock had previously closed at $229.22, but opened at $249.41. JPMorgan Chase & Co. currently has an overweight rating on the stock. Beigene shares last traded at $246.84, with a volume of 107,998 shares trading hands.

Several other brokerages have also recently commented on ONC. Royal Bank of Canada assumed coverage on shares of Beigene in a research report on Monday, April 7th. They issued an "outperform" rating and a $312.00 price target on the stock. Macquarie boosted their target price on shares of Beigene from $259.00 to $313.00 and gave the stock an "outperform" rating in a report on Friday, February 28th. JMP Securities set a $348.00 target price 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 lifted their price target for the stock from $207.00 to $320.00 in a research report on Monday, March 3rd. Finally, Sanford C. Bernstein set a $259.00 price objective on Beigene in a research report on Thursday, March 13th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $318.88.

Insider Activity

In other news, insider Xiaodong Wang sold 8,146 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $254.58, for a total value of $2,073,808.68. Following the completion of the sale, the insider now owns 5,240,882 shares of the company's stock, valued at $1,334,223,739.56. This trade represents a 0.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 disclosure for this sale can be found here. Insiders have sold 1,146,048 shares of company stock worth $295,198,300 over the last 90 days. 6.62% of the stock is owned by company insiders.

Beigene Price Performance

The company has a fifty day moving average of $247.84. The company has a market cap of $24.21 billion, a price-to-earnings ratio of -29.72, a price-to-earnings-growth ratio of 7.73 and a beta of 0.49. 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 (NASDAQ:ONC - Get Free Report) last issued 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 company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.09 billion. Equities research analysts forecast that Beigene, Ltd. will post -5.82 EPS for the current fiscal year.

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.