Beigene (NASDAQ:ONC) Shares Gap Up – Still a Buy?

Beigene, Ltd. (NASDAQ:ONC)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $250.92, but opened at $264.02. Beigene shares last traded at $264.23, with a volume of 155,764 shares traded.

Wall Street Analyst Weigh In

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

Beigene Stock Up 1.8 %

The company has a market cap of $26.38 billion, a P/E ratio of -32.45, a PEG 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) last released its quarterly earnings results 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). The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.09 billion. Beigene had a negative net margin of 25.94% and a negative return on equity of 25.12%. Equities analysts forecast that Beigene, Ltd. will post -5.82 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO Xiaobin Wu sold 21,267 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $240.07, for a total transaction of $5,105,568.69. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO John Oyler sold 101,000 shares of the firm’s stock in a transaction that occurred on 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. Over the last 90 days, insiders sold 1,052,367 shares of company stock valued at $270,454,249. 7.43% of the stock is currently owned by corporate 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.