Beigene (NASDAQ:ONC) Shares Gap Up – Here’s What Happened

Beigene, Ltd. (NASDAQ:ONC) gapped up before the market opened on Thursday . The stock had previously closed at $250.92, but opened at $264.02. Beigene shares last traded at $264.23, with a volume of 155,764 shares traded.

Analyst Ratings Changes

Several research analysts have recently commented on ONC shares. Bank of America upgraded Beigene from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $207.00 to $320.00 in a research note on Monday, March 3rd. Guggenheim restated a “buy” rating on shares of Beigene in a report on Friday, February 28th. Macquarie lifted their price target on 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 price objective on Beigene in a report on Friday, February 28th. Finally, Sanford C. Bernstein set a $259.00 price objective on Beigene in a research report on Thursday, March 13th.

Beigene Price Performance

The company has a current ratio of 1.93, a quick ratio of 1.72 and a debt-to-equity ratio of 0.05. The stock has a market cap of $26.14 billion, a price-to-earnings ratio of -32.16, a P/E/G ratio of 7.73 and a beta of 0.65.

Beigene (NASDAQ:ONC) last released 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). 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 the consensus estimate of $1.09 billion. Analysts predict that Beigene, Ltd. will post -5.82 EPS for the current year.

Insiders Place Their Bets

In other Beigene news, insider Xiaodong Wang sold 41,760 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $261.28, for a total value of $10,911,052.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Chan Henry Lee sold 1,202 shares of the firm’s stock in a transaction that occurred on 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. Insiders have sold 1,052,367 shares of company stock worth $270,454,249 over the last ninety days. Corporate insiders own 7.43% 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.