Beigene (NASDAQ:ONC) Raised to “Buy” at Bank of America

Bank of America upgraded shares of Beigene (NASDAQ:ONC) from a neutral rating to a buy rating in a research report report published on Monday, MarketBeat.com reports. They currently have $320.00 price target on the stock, up from their prior price target of $207.00.

Separately, Macquarie boosted their target price on shares of Beigene from $259.00 to $313.00 and gave the stock an “outperform” rating in a research report on Friday, February 28th.

Beigene Price Performance

NASDAQ:ONC opened at $262.21 on Monday. The company has a quick ratio of 1.72, a current ratio of 1.93 and a debt-to-equity ratio of 0.05. The stock has a market cap of $25.66 billion, a PE ratio of -31.82, a price-to-earnings-growth ratio of 7.73 and a beta of 0.63. Beigene has a one year low of $126.97 and a one year high of $287.88.

Beigene (NASDAQ:ONC) last posted its earnings results on Thursday, February 27th. The company reported ($1.43) EPS for the quarter, missing the consensus estimate of ($0.88) by ($0.55). The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.09 billion. Beigene had a negative return on equity of 25.12% and a negative net margin of 25.94%. As a group, sell-side analysts expect that Beigene will post -5.82 EPS for the current year.

Insider Buying and Selling

In related news, COO Xiaobin Wu sold 21,267 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $240.07, for a total transaction of $5,105,568.69. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO John Oyler sold 101,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $244.30, for a total transaction of $24,674,300.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 891,950 shares of company stock worth $229,290,847. 7.43% of the stock is owned by insiders.

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.