Beigene (NASDAQ:ONC) Stock Rating Upgraded by Bank of America

Beigene (NASDAQ:ONC) was upgraded by stock analysts at Bank of America from a “neutral” rating to a “buy” rating in a research note issued to investors on Monday, Marketbeat Ratings reports. The firm currently has a $320.00 price target on the stock, up from their previous price target of $207.00. Bank of America‘s price objective would suggest a potential upside of 17.73% from the company’s previous close.

Separately, Macquarie increased their target price on Beigene from $259.00 to $313.00 and gave the stock an “outperform” rating in a research note on Friday.

Beigene Trading Down 2.4 %

NASDAQ:ONC opened at $271.80 on Monday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.72 and a current ratio of 1.93. The firm has a market capitalization of $26.60 billion, a price-to-earnings ratio of -32.99, a P/E/G ratio of 7.73 and a beta of 0.63. Beigene has a one year low of $126.97 and a one year high of $287.88.

Beigene (NASDAQ:ONC) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($1.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.55). The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.09 billion. Beigene had a negative net margin of 25.94% and a negative return on equity of 25.12%. On average, sell-side analysts forecast that Beigene will post -5.82 EPS for the current fiscal year.

Insider Activity at Beigene

In related news, COO Xiaobin Wu sold 30,654 shares of the firm’s stock in a transaction 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 transaction of $190,535,020.00. Following the sale, the director now directly owns 730,642 shares of the company’s stock, valued at $189,966,920. This represents a 50.07 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 790,950 shares of company stock worth $204,616,547. Corporate insiders own 7.43% of the company’s stock.

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.