Beigene (NASDAQ:ONC) Upgraded at 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 report issued on Monday, Marketbeat Ratings reports. The brokerage currently has a $320.00 price target on the stock, up from their previous price target of $207.00. Bank of America‘s target price points to a potential upside of 24.36% from the company’s previous close.

Separately, Macquarie boosted their target price 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 4.8 %

NASDAQ ONC opened at $257.31 on Monday. Beigene has a 12-month low of $126.97 and a 12-month high of $287.88. 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 $25.18 billion, a price-to-earnings ratio of -31.23, a PEG ratio of 7.73 and a beta of 0.63.

Beigene (NASDAQ:ONC) last announced 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 for 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, analysts predict that Beigene will post -5.82 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Chan Henry Lee sold 1,202 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $258.04, for a total value of $310,164.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Bros. Advisors Lp Baker sold 732,827 shares of the firm’s stock in a transaction on 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 directly owns 730,642 shares of the company’s stock, valued at approximately $189,966,920. This trade represents a 50.07 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 790,950 shares of company stock valued at $204,616,547. 7.43% of the stock is owned by company 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.