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

Beigene, Ltd. (NASDAQ:ONC - Get Free Report) gapped up before the market opened 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 traded.

A number of other brokerages have also issued reports on ONC. Royal Bank of Canada started coverage on shares of Beigene in a research note on Monday, April 7th. They issued an "outperform" rating and a $312.00 price target for the company. Sanford C. Bernstein set a $259.00 target price on shares of Beigene in a research note on Thursday, March 13th. Guggenheim reiterated a "buy" rating on shares of Beigene in a research note on Wednesday, April 16th. JMP Securities set a $348.00 price objective on Beigene in a research note on Friday, February 28th. Finally, 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 report on Monday, March 3rd. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $318.88.

Insider Transactions at Beigene

In related news, Director Bros. Advisors Lp Baker sold 732,827 shares of the stock in a transaction dated 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 sale, the director now owns 730,642 shares of the company's stock, valued at $189,966,920. This trade represents a 50.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 shares were 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. In the last ninety days, insiders have sold 1,146,048 shares of company stock worth $295,198,300. 6.62% of the stock is currently owned by company insiders.

Beigene Trading Down 4.4 %

The firm has a market cap of $24.21 billion, a P/E ratio of -29.72, a price-to-earnings-growth ratio of 7.73 and a beta of 0.49. The business has a 50-day simple moving average of $247.84. The company has a current ratio of 1.93, a quick ratio of 1.72 and a debt-to-equity ratio of 0.05.

Beigene (NASDAQ:ONC - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($1.43) earnings per share for the quarter, missing the consensus estimate of ($0.88) by ($0.55). The company had revenue of $1.13 billion during the quarter, compared to analyst estimates 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, research analysts expect 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.