Beigene (NASDAQ:ONC) Stock Price Down 0.1% After Insider Selling

Shares of Beigene, Ltd. (NASDAQ:ONC) were down 0.1% on Tuesday after an insider sold shares in the company. The company traded as low as $260.46 and last traded at $263.42. Approximately 416,160 shares changed hands during trading, a decline of 8% from the average daily volume of 450,640 shares. The stock had previously closed at $263.78.

Specifically, CEO John Oyler sold 5,127 shares of the business’s stock in a transaction on Friday, June 6th. The stock was sold at an average price of $252.77, for a total value of $1,295,951.79. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Xiaobin Wu sold 1,934 shares of Beigene stock in a transaction on Friday, June 6th. The stock was sold at an average price of $253.15, for a total value of $489,592.10. The disclosure for this sale can be found here. In related news, insider Lai Wang sold 1,402 shares of the business’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $252.39, for a total value of $353,850.78. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Analyst Ratings Changes

Several analysts have commented on ONC shares. TD Securities reaffirmed a “buy” rating and issued a $334.00 price objective on shares of Beigene in a research report on Thursday, April 24th. Bank of America upgraded shares of Beigene from a “neutral” rating to a “buy” rating and raised their price target for the stock from $207.00 to $320.00 in a research note on Monday, March 3rd. JMP Securities set a $348.00 price objective on Beigene in a research note on Friday, February 28th. Royal Bank of Canada reduced their price objective on Beigene from $312.00 to $311.00 and set an “outperform” rating for the company in a report on Thursday, May 8th. Finally, Guggenheim boosted their price target on shares of Beigene from $348.00 to $350.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $319.00.

Beigene Stock Down 0.1%

The stock has a market capitalization of $31.18 billion, a price-to-earnings ratio of -31.97, a PEG ratio of 7.73 and a beta of 0.30. 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 stock has a fifty day moving average price of $238.58.

Beigene (NASDAQ:ONC) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.22 EPS for the quarter, topping the consensus estimate of ($0.71) by $1.93. The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.12 billion. Beigene had a negative return on equity of 25.12% and a negative net margin of 25.94%. As a group, analysts predict that Beigene, Ltd. will post -5.82 earnings per share for the current year.

About Beigene

BeOne Medicines Ltd. is a global oncology company domiciled in Switzerland that is discovering and developing innovative treatments that are more affordable and accessible to cancer patients worldwide. The firm portfolio spanning hematology and solid tumors, BeOne is expediting development of its diverse pipeline of novel therapeutics through its internal capabilities and collaborations.