Bank of America Upgrades Beigene (NASDAQ:ONC) to "Buy"

Beigene (NASDAQ:ONC - Get Free Report) was upgraded by Bank of America from a "neutral" rating to a "buy" rating in a research report issued on Monday, Marketbeat reports. The brokerage presently has a $320.00 price target on the stock, up from their prior price target of $207.00. Bank of America's price objective suggests a potential upside of 30.33% from the company's current price.

Separately, Macquarie boosted their target price on shares of Beigene from $259.00 to $313.00 and gave the company an "outperform" rating in a research report on Friday.

Beigene Trading Down 9.7 %

Shares of NASDAQ:ONC traded down $26.27 during trading on Monday, hitting $245.53. The stock had a trading volume of 1,291,907 shares, compared to its average volume of 443,150. The company has a quick ratio of 1.72, a current ratio of 1.93 and a debt-to-equity ratio of 0.05. Beigene has a 12-month low of $126.97 and a 12-month high of $287.88. The stock has a market cap of $24.03 billion, a price-to-earnings ratio of -29.80, a PEG ratio of 7.73 and a beta of 0.63.

Beigene (NASDAQ:ONC - Get Free Report) last issued its quarterly earnings results 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). Beigene had a negative return on equity of 25.12% and a negative net margin of 25.94%. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.09 billion. Equities analysts predict that Beigene will post -5.82 EPS for the current year.

Insider Buying and Selling at Beigene

In related news, Director Bros. Advisors Lp Baker sold 732,827 shares of the company's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $260.00, for a total value of $190,535,020.00. Following the completion of the transaction, the director now owns 730,642 shares of the company's stock, valued at approximately $189,966,920. This represents a 50.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Xiaobin Wu sold 30,654 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $240.74, for a total value of $7,379,643.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 790,950 shares of company stock valued at $204,616,547. 7.43% of the stock is owned by company insiders.

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.