Beigene (NASDAQ:ONC) Stock Price Up 11.8% – Time to Buy?

Beigene, Ltd. (NASDAQ:ONC)’s share price shot up 11.8% during trading on Friday . The stock traded as high as $234.80 and last traded at $232.86. 146,144 shares were traded during mid-day trading, a decline of 69% from the average session volume of 474,178 shares. The stock had previously closed at $208.31.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ONC shares. JMP Securities set a $348.00 price objective on shares of Beigene in a research note on Friday, February 28th. Guggenheim reissued a “buy” rating and set a $348.00 price objective on shares of Beigene in a research note on Thursday. Macquarie upped their target price on Beigene from $259.00 to $313.00 and gave the company an “outperform” rating in a research note on Friday, February 28th. Royal Bank of Canada assumed coverage on Beigene in a report on Monday. They set an “outperform” rating and a $312.00 target price on the stock. Finally, Sanford C. Bernstein set a $259.00 price target on Beigene in a report on Thursday, March 13th.

Beigene Price Performance

The stock has a market cap of $22.82 billion, a PE ratio of -28.06, 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 quick ratio of 1.72 and a current ratio of 1.93. The stock has a 50-day moving average of $246.68.

Beigene (NASDAQ:ONC) last issued its quarterly 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). The business had revenue of $1.13 billion for 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%. Analysts predict that Beigene, Ltd. will post -5.82 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, COO Xiaobin Wu sold 51,921 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $281.40, for a total transaction of $14,610,569.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bros. Advisors Lp Baker sold 732,827 shares of Beigene stock in a transaction on Friday, February 28th. The shares were sold at an average price of $260.00, for a total transaction of $190,535,020.00. Following the completion of the transaction, the director now owns 730,642 shares in the company, valued at approximately $189,966,920. This trade represents a 50.07 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,104,288 shares of company stock valued at $285,064,819. Insiders own 7.43% 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.