Beigene (NASDAQ:ONC) Shares Down 7.7% - Here's What Happened

Beigene, Ltd. (NASDAQ:ONC - Get Free Report) fell 7.7% during mid-day trading on Monday . The stock traded as low as $214.12 and last traded at $220.03. 219,944 shares traded hands during mid-day trading, a decline of 52% from the average session volume of 459,486 shares. The stock had previously closed at $238.51.

Wall Street Analyst Weigh In

ONC has been the subject of a number of research analyst reports. Macquarie raised their price target on Beigene from $259.00 to $313.00 and gave the stock an "outperform" rating in a research note on Friday, February 28th. Sanford C. Bernstein set a $259.00 price objective on shares of Beigene in a report on Thursday, March 13th. Bank of America upgraded shares of Beigene from a "neutral" rating to a "buy" rating and upped their target price for the stock from $207.00 to $320.00 in a research note on Monday, March 3rd. JMP Securities set a $348.00 price target on Beigene in a report on Friday, February 28th. Finally, Guggenheim restated a "buy" rating and set a $348.00 price objective on shares of Beigene in a report on Thursday.

Beigene Price Performance

The firm has a market capitalization of $22.73 billion, a P/E ratio of -27.96, a PEG ratio of 7.73 and a beta of 0.49. 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's fifty day moving average is $246.33.

Beigene (NASDAQ:ONC - Get Free Report) last released its quarterly 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). Beigene had a negative return on equity of 25.12% and a negative net margin of 25.94%. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.09 billion. Equities research analysts forecast that Beigene, Ltd. will post -5.82 EPS for the current fiscal year.

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Insider Buying and Selling at Beigene

In other news, COO Xiaobin Wu sold 30,654 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $240.74, for a total transaction of $7,379,643.96. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Xiaodong Wang sold 8,146 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $254.58, for a total transaction of $2,073,808.68. Following the transaction, the insider now owns 5,240,882 shares in the company, valued at approximately $1,334,223,739.56. This trade represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,104,288 shares of company stock valued at $285,064,819. 7.43% of the stock is currently 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.