Beigene (NASDAQ:ONC) Shares Gap Down – Time to Sell?

Beigene, Ltd. (NASDAQ:ONC) shares gapped down prior to trading on Monday . The stock had previously closed at $231.99, but opened at $219.28. Beigene shares last traded at $233.00, with a volume of 113,309 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have weighed in on ONC shares. JPMorgan Chase & Co. raised their price objective on shares of Beigene from $311.00 to $317.00 and gave the company an “overweight” rating in a research report on Monday, April 21st. Bank of America upgraded shares of Beigene from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $207.00 to $320.00 in a research report on Monday, March 3rd. JMP Securities set a $348.00 price target on shares of Beigene in a research report on Friday, February 28th. TD Securities reiterated a “buy” rating and set a $334.00 price target on shares of Beigene in a research report on Thursday, April 24th. Finally, Macquarie lifted their price target on shares of Beigene from $259.00 to $313.00 and gave the stock 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 data from MarketBeat.com, Beigene has a consensus rating of “Buy” and an average target price of $319.00.

Beigene Stock Up 0.2%

The stock has a market cap of $22.99 billion, a PE ratio of -28.21, a price-to-earnings-growth ratio of 7.73 and a beta of 0.35. The stock’s fifty day moving average is $245.87. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.72 and a current ratio of 1.93.

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

Insider Activity at Beigene

In other Beigene news, insider Xiaodong Wang sold 41,760 shares of Beigene 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John Oyler sold 101,000 shares of Beigene stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $244.30, for a total transaction of $24,674,300.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,146,048 shares of company stock worth $295,198,300. 6.62% of the stock is currently owned by company 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.