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

Shares of 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 changing hands.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ONC shares. Macquarie lifted 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. Bank of America upgraded Beigene from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $207.00 to $320.00 in a research note on Monday.

Beigene Stock Performance

The company has a market cap of $24.90 billion, a PE ratio of -30.88, a P/E/G ratio of 7.73 and a beta of 0.63. 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 issued its earnings results on Thursday, February 27th. The company reported ($1.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Equities research analysts expect that Beigene, Ltd. will post -5.82 earnings per share for the current fiscal year.

Insider Transactions at Beigene

In related news, Director Bros. Advisors Lp Baker sold 732,827 shares of the stock in a transaction on 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 sale, the director now directly owns 730,642 shares of the company’s stock, valued at approximately $189,966,920. This represents a 50.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Xiaobin Wu sold 21,267 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was 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 a total of 790,950 shares of company stock worth $204,616,547 over the last three months. 7.43% of the stock is currently 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.