Analysts Set Beigene, Ltd. (NASDAQ:ONC) PT at $319.00

Shares of Beigene, Ltd. (NASDAQ:ONC) have received an average recommendation of “Buy” from the six brokerages that are currently covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a buy recommendation. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $319.00.

ONC has been the subject of several recent analyst reports. Sanford C. Bernstein set a $259.00 price target on Beigene in a research note on Thursday, March 13th. Royal Bank of Canada cut their price objective on Beigene from $312.00 to $311.00 and set an “outperform” rating for the company in a research report on Thursday, May 8th. JMP Securities set a $348.00 price objective on Beigene in a research report on Friday, February 28th. TD Securities reissued a “buy” rating and set a $334.00 price objective on shares of Beigene in a research report on Thursday, April 24th. Finally, Guggenheim boosted their price objective on Beigene from $348.00 to $350.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th.

Insiders Place Their Bets

In other news, SVP Chan Henry Lee sold 700 shares of the firm’s stock in a transaction on Friday, June 6th. The stock was sold at an average price of $256.11, for a total value of $179,277.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Xiaodong Wang sold 41,760 shares of the firm’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $261.28, for a total value of $10,911,052.80. The disclosure for this sale can be found here. Insiders sold 228,258 shares of company stock worth $58,317,119 over the last three months. 6.62% of the stock is currently owned by corporate insiders.

Beigene Stock Down 2.5%

Shares of Beigene stock opened at $269.63 on Friday. The stock’s fifty day moving average is $241.38. The firm has a market capitalization of $29.52 billion, a price-to-earnings ratio of -32.72, 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. Beigene has a 12-month low of $141.31 and a 12-month high of $287.88.

Beigene (NASDAQ:ONC) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.71) by $1.93. Beigene had a negative return on equity of 25.12% and a negative net margin of 25.94%. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.12 billion. Analysts expect that Beigene will post -5.82 EPS 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.