Beigene (NASDAQ:ONC) Shares Gap Down Following Insider Selling

Beigene, Ltd. (NASDAQ:ONC - Get Free Report)'s share price gapped down before the market opened on Monday following insider selling activity. The stock had previously closed at $271.80, but opened at $255.83. Beigene shares last traded at $245.79, with a volume of 250,731 shares trading hands.

Specifically, Director Bros. Advisors Lp Baker sold 732,827 shares of the business's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $260.00, for a total value of $190,535,020.00. Following the transaction, the director now owns 730,642 shares in the company, valued at $189,966,920. The trade was a 50.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Chan Henry Lee sold 1,202 shares of the firm's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $258.04, for a total value of $310,164.08. The disclosure for this sale can be found here. In related news, insider Lai Wang sold 5,000 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $257.23, for a total value of $1,286,150.00. Following the completion of the transaction, the insider now owns 920,920 shares of the company's stock, valued at approximately $236,888,251.60. This represents a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Bank of America upgraded Beigene from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $207.00 to $320.00 in a report on Monday. Macquarie raised their price target on shares of Beigene from $259.00 to $313.00 and gave the stock an "outperform" rating in a research report on Friday.

Beigene Price Performance

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 company has a market cap of $24.03 billion, a PE ratio of -29.80, a PEG ratio of 7.73 and a beta of 0.63.

Beigene (NASDAQ:ONC - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($1.43) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.09 billion. Sell-side analysts forecast that Beigene, Ltd. will post -5.82 earnings per share for the current year.

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.