Beigene (NASDAQ:ONC) Trading Up 4.2% - Here's What Happened

Shares of Beigene, Ltd. (NASDAQ:ONC - Get Free Report) shot up 4.2% during trading on Friday . The stock traded as high as $274.00 and last traded at $273.67. 80,645 shares changed hands during trading, a decline of 82% from the average session volume of 440,196 shares. The stock had previously closed at $262.60.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ONC shares. Bank of America upgraded shares of Beigene from a "neutral" rating to a "buy" rating and upped their price target for the company from $207.00 to $320.00 in a report on Monday, March 3rd. Macquarie boosted their price objective on shares of Beigene from $259.00 to $313.00 and gave the company an "outperform" rating in a research report on Friday, February 28th. JMP Securities set a $348.00 target price on Beigene in a report on Friday, February 28th. Guggenheim restated a "buy" rating on shares of 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 Trading Down 0.4 %

The firm has a market capitalization of $26.74 billion, a P/E ratio of -32.89, a price-to-earnings-growth ratio of 7.73 and a beta of 0.65. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.72 and a current ratio of 1.93.

Beigene (NASDAQ:ONC - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($1.43) EPS 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 analyst estimates of $1.09 billion. Beigene had a negative return on equity of 25.12% and a negative net margin of 25.94%. Analysts forecast that Beigene, Ltd. will post -5.82 EPS for the current fiscal year.

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Insider Activity

In other news, Director Bros. Advisors Lp Baker sold 732,827 shares of the business's stock in a transaction dated 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 transaction, the director now directly owns 730,642 shares in the company, valued at $189,966,920. The trade was a 50.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Xiaobin Wu sold 30,654 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $240.74, for a total transaction of $7,379,643.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,052,367 shares of company stock valued at $270,454,249. 7.43% of the stock is 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.