Beigene (NASDAQ:ONC) Upgraded by Royal Bank of Canada to Moderate Buy Rating

Beigene (NASDAQ:ONC) was upgraded by analysts at Royal Bank of Canada to a “moderate buy” rating in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. The brokerage presently has a $312.00 target price on the stock. Royal Bank of Canada’s target price points to a potential upside of 48.99% from the stock’s current price.

A number of other brokerages have also recently commented on ONC. Guggenheim reiterated a “buy” rating on shares of Beigene in a report on Friday, February 28th. Sanford C. Bernstein set a $259.00 target price on Beigene in a research note on Thursday, March 13th. Bank of America upgraded Beigene from a “neutral” rating to a “buy” rating and increased their price target for the stock from $207.00 to $320.00 in a report on Monday, March 3rd. Macquarie lifted their price objective on shares of Beigene from $259.00 to $313.00 and gave the company an “outperform” rating in a research note on Friday, February 28th. Finally, JMP Securities set a $348.00 target price on shares of Beigene in a research note on Friday, February 28th.

Beigene Stock Performance

Shares of NASDAQ:ONC opened at $209.41 on Monday. The company has a current ratio of 1.93, a quick ratio of 1.72 and a debt-to-equity ratio of 0.05. Beigene has a 52 week low of $126.97 and a 52 week high of $287.88. The firm has a market capitalization of $20.67 billion, a price-to-earnings ratio of -25.41, a PEG ratio of 7.73 and a beta of 0.49. The business’s fifty day simple moving average is $249.45.

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

Insider Buying and Selling

In related news, COO Xiaobin Wu sold 21,267 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $240.07, for a total value of $5,105,568.69. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Xiaodong Wang sold 8,146 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $254.58, for a total value of $2,073,808.68. Following the sale, the insider now directly owns 5,240,882 shares of the company’s stock, valued at $1,334,223,739.56. This represents a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,104,288 shares of company stock worth $285,064,819 in the last ninety days. 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.