Beigene (NASDAQ:ONC) Stock Price Up 4.2% – What’s Next?

Beigene, Ltd. (NASDAQ:ONC)’s stock price rose 4.2% during mid-day trading on Friday . The stock traded as high as $274.00 and last traded at $273.67. Approximately 80,645 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 440,196 shares. The stock had previously closed at $262.60.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Bank of America upgraded Beigene from a “neutral” rating to a “buy” rating and raised their price target for the company from $207.00 to $320.00 in a research report on Monday, March 3rd. Macquarie increased their price target 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 price objective on shares of Beigene in a research note on Friday, February 28th. Sanford C. Bernstein set a $259.00 price target on shares of Beigene in a research note on Thursday, March 13th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Beigene in a research note on Friday, February 28th.

Beigene Trading Up 2.1 %

The stock has a market cap of $26.44 billion, a price-to-earnings ratio of -32.53, 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) last posted its 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 business had revenue of $1.13 billion during the quarter, compared to the consensus estimate 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, equities research analysts expect that Beigene, Ltd. will post -5.82 earnings per share for the current fiscal year.

Insider Activity at Beigene

In related news, insider Xiaodong Wang sold 41,760 shares of Beigene stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $261.28, for a total transaction of $10,911,052.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Xiaobin Wu sold 21,267 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $240.07, for a total value of $5,105,568.69. The disclosure for this sale can be found here. Insiders sold a total of 1,052,367 shares of company stock worth $270,454,249 over the last quarter. 7.43% of the stock is 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.