JPMorgan Chase & Co. Issues Positive Forecast for Beigene (NASDAQ:ONC) Stock Price

Beigene (NASDAQ:ONC) had its price objective upped by JPMorgan Chase & Co. from $311.00 to $317.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other research firms also recently issued reports on ONC. Bank of America raised shares of Beigene from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $207.00 to $320.00 in a report on Monday, March 3rd. Guggenheim reissued a “buy” rating on shares of Beigene in a research report on Wednesday, April 16th. JMP Securities set a $348.00 target price on Beigene in a research report on Friday, February 28th. Macquarie upped their price target on Beigene from $259.00 to $313.00 and gave the stock an “outperform” rating in a research report on Friday, February 28th. Finally, Royal Bank of Canada initiated coverage on Beigene in a research report on Monday, April 7th. They set an “outperform” rating and a $312.00 price objective on the stock. Four research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $316.71.

Beigene Stock Down 0.8 %

Shares of Beigene stock opened at $229.22 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 twelve month low of $129.96 and a twelve month high of $287.88. The company has a market capitalization of $22.66 billion, a P/E ratio of -27.82, a price-to-earnings-growth ratio of 7.73 and a beta of 0.49. The firm’s 50 day moving average is $246.29.

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 firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Beigene had a negative return on equity of 25.12% and a negative net margin of 25.94%. Sell-side analysts expect that Beigene will post -5.82 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Xiaobin Wu sold 51,921 shares of the business’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $281.40, for a total value of $14,610,569.40. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Xiaodong Wang sold 41,760 shares of the stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $242.66, for a total value of $10,133,481.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,146,048 shares of company stock valued at $295,198,300. 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.