Guggenheim Forecasts Strong Price Appreciation for Beigene (NASDAQ:ONC) Stock

Beigene (NASDAQ:ONC) had its price target boosted by equities researchers at Guggenheim from $348.00 to $350.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Guggenheim’s target price points to a potential upside of 50.87% from the stock’s previous close.

Several other equities research analysts have also weighed in on the company. Sanford C. Bernstein set a $259.00 target price on Beigene in a research report on Thursday, March 13th. TD Securities reiterated a “buy” rating and issued a $334.00 price objective on shares of Beigene in a research report on Thursday, April 24th. JPMorgan Chase & Co. upped their target price on shares of Beigene from $311.00 to $317.00 and gave the stock an “overweight” rating in a research report on Monday, April 21st. JMP Securities set a $348.00 price target on Beigene in a report on Friday, February 28th. Finally, Macquarie raised 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. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, Beigene presently has a consensus rating of “Buy” and an average price target of $319.00.

Beigene Stock Performance

NASDAQ ONC opened at $231.99 on Thursday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.93 and a quick ratio of 1.72. Beigene has a one year low of $141.31 and a one year high of $287.88. The firm has a 50-day simple moving average of $245.87. The firm has a market cap of $22.95 billion, a price-to-earnings ratio of -28.15, a PEG ratio of 7.73 and a beta of 0.35.

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

Insider Buying and Selling at Beigene

In related news, COO Xiaobin Wu sold 30,654 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $240.74, for a total transaction of $7,379,643.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Xiaodong Wang sold 41,760 shares of the firm’s stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $242.66, for a total transaction of $10,133,481.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,146,048 shares of company stock valued at $295,198,300. 6.62% of the stock is owned by corporate 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.