Guggenheim Reaffirms Buy Rating for Beigene (NASDAQ:ONC)

Beigene (NASDAQ:ONC)‘s stock had its “buy” rating reaffirmed by Guggenheim in a research report issued to clients and investors on Wednesday,Benzinga reports.

Several other research analysts have also commented on ONC. Sanford C. Bernstein set a $259.00 price target on Beigene in a research report on Thursday, March 13th. Macquarie raised their target price on Beigene from $259.00 to $313.00 and gave the company an “outperform” rating in a report on Friday, February 28th. Bank of America upgraded shares of Beigene from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $207.00 to $320.00 in a research note on Monday, March 3rd. Royal Bank of Canada started coverage on shares of Beigene in a research report on Monday, April 7th. They set an “outperform” rating and a $312.00 price target on the stock. Finally, JMP Securities set a $348.00 price objective on shares of Beigene in a report on Friday, February 28th.

Beigene Trading Up 1.2 %

Shares of NASDAQ:ONC opened at $230.98 on Wednesday. The business’s 50-day simple moving average is $245.97. Beigene has a 12-month low of $126.97 and a 12-month high of $287.88. The company has a quick ratio of 1.72, a current ratio of 1.93 and a debt-to-equity ratio of 0.05. The firm has a market cap of $22.79 billion, a P/E ratio of -28.03, a price-to-earnings-growth ratio of 7.73 and a beta of 0.49.

Beigene (NASDAQ:ONC) last released its quarterly 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). The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Beigene had a negative net margin of 25.94% and a negative return on equity of 25.12%. As a group, equities research analysts predict that Beigene will post -5.82 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Beigene news, Director Bros. Advisors Lp Baker sold 732,827 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 730,642 shares in the company, valued at $189,966,920. The trade was a 50.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO John Oyler sold 101,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $244.30, for a total transaction of $24,674,300.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,146,048 shares of company stock worth $295,198,300 in the last quarter. 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.