Beigene (NASDAQ:ONC) Shares Gap Up – Time to Buy?

Beigene, Ltd. (NASDAQ:ONC) gapped up before the market opened on Tuesday . The stock had previously closed at $245.53, but opened at $252.00. Beigene shares last traded at $252.02, with a volume of 166,977 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ONC shares. Macquarie boosted their price objective on Beigene from $259.00 to $313.00 and gave the stock an “outperform” rating in a research note on Friday. Bank of America raised shares of Beigene from a “neutral” rating to a “buy” rating and lifted their price target for the company from $207.00 to $320.00 in a research report on Monday.

Beigene Price Performance

The company has a current ratio of 1.93, a quick ratio of 1.72 and a debt-to-equity ratio of 0.05. The firm has a market cap of $24.90 billion, a PE ratio of -30.88, a PEG ratio of 7.73 and a beta of 0.63.

Beigene (NASDAQ:ONC) last issued its quarterly earnings data 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 analyst estimates of $1.09 billion. As a group, equities analysts predict that Beigene, Ltd. will post -5.82 earnings per share for the current year.

Insider Activity at Beigene

In other Beigene news, Director Bros. Advisors Lp Baker sold 732,827 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $260.00, for a total transaction of $190,535,020.00. Following the transaction, the director now owns 730,642 shares of the company’s stock, valued at approximately $189,966,920. This trade represents a 50.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Xiaobin Wu sold 21,267 shares of Beigene stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $240.07, for a total transaction of $5,105,568.69. The disclosure for this sale can be found here. Insiders sold 790,950 shares of company stock worth $204,616,547 in the last three months. 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.