Beigene (NASDAQ:ONC) Upgraded to “Moderate Buy” at Royal Bank of Canada

Royal Bank of Canada upgraded shares of Beigene (NASDAQ:ONC) to a moderate buy rating in a research note issued to investors on Monday morning, Marketbeat.com reports. The firm currently has $312.00 price objective on the stock.

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

Beigene Price Performance

Shares of Beigene stock opened at $206.32 on Monday. The company has a market cap of $20.36 billion, a PE ratio of -25.04, a price-to-earnings-growth ratio of 7.73 and a beta of 0.49. The business’s 50-day simple moving average is $247.53. 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 1 year low of $126.97 and a 1 year high of $287.88.

Beigene (NASDAQ:ONC) last released its quarterly earnings results on Thursday, February 27th. The company reported ($1.43) EPS for the quarter, missing the consensus estimate 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 company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.09 billion. On average, equities analysts expect that Beigene will post -5.82 earnings per share for the current year.

Insider Activity at Beigene

In related news, COO Xiaobin Wu sold 30,654 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $240.74, for a total value of $7,379,643.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Chan Henry Lee sold 1,202 shares of Beigene stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $258.04, for a total transaction of $310,164.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,104,288 shares of company stock valued at $285,064,819. Corporate insiders own 7.43% of the company’s stock.

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.