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

Beigene, Ltd. (NASDAQ:ONC) gapped down before the market opened 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 changing hands.

Analyst Ratings Changes

A number of research analysts have recently commented on ONC shares. Sanford C. Bernstein set a $259.00 price objective on Beigene in a report on Thursday, March 13th. Royal Bank of Canada decreased their target price on Beigene from $312.00 to $311.00 and set an “outperform” rating for the company in a research note on Thursday. Bank of America upgraded Beigene from a “neutral” rating to a “buy” rating and increased their target price for the company from $207.00 to $320.00 in a research note on Monday, March 3rd. Guggenheim increased their target price on Beigene from $348.00 to $350.00 and gave the company a “buy” rating in a research note on Thursday. Finally, JMP Securities set a $348.00 target price on Beigene in a research note on Friday, February 28th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $319.00.

Beigene Stock Performance

The firm has a 50-day moving average of $245.87. The company has a current ratio of 1.93, a quick ratio of 1.72 and a debt-to-equity ratio of 0.05. The stock has a market cap of $22.99 billion, a P/E ratio of -28.21, a P/E/G ratio of 7.73 and a beta of 0.35.

Beigene (NASDAQ:ONC) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.22 EPS for the quarter, topping 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 company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.12 billion. Sell-side analysts anticipate that Beigene, Ltd. will post -5.82 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Xiaobin Wu sold 30,654 shares of Beigene stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $240.74, for a total transaction of $7,379,643.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Chan Henry Lee sold 1,202 shares of Beigene stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $258.04, for a total transaction of $310,164.08. The disclosure for this sale can be found here. Insiders sold 1,146,048 shares of company stock worth $295,198,300 over the last three months. 6.62% of the stock is currently owned by corporate insiders.

About Beigene

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.