Beigene (ONC) Surges 5.76% on Q2 Revenue Rally and Strategic Expansion – What’s Next for the Biotech Giant?

Summary
• Q2 2025 product revenue jumps 41% to $1.3B, driven by Brukinsa sales growth
• Intraday price hits $305.0, up 5.76% from $288.1 close
• Institutional ownership at 48.55%, with insider selling of $36.3M in past 3 months

Beigene (ONC) has surged 5.76% in intraday trading, fueled by a blockbuster Q2 revenue report and strategic in-licensing deals. The stock’s 304.7 price near its 52-week high of 313.29 reflects renewed investor confidence in its BTK market leadership and global expansion. With Brukinsa driving 41% year-over-year revenue growth and Amgen/Teviselizumab partnerships amplifying margins, the biotech’s momentum is now colliding with technical indicators suggesting a pivotal breakout phase.

Q2 Revenue Growth and Brukinsa Momentum Drive Beigene’s Intraday Surge
Beigene’s 5.76% intraday rally stems from its Q2 2025 earnings report, which revealed a 41% year-over-year revenue increase to $1.3 billion, with Brukinsa (zanubrutinib) accounting for the lion’s share of growth. The U.S. market alone contributed $685 million in product revenue, up 43% from $479 million in 2024. In-licensed products from Amgen (Blinatumomab) and Teviselizumab (tislelizumab) further diversified revenue streams. Analysts highlight Brukinsa’s competitive edge in the BTK inhibitor market, with pricing advantages over competitors like AbbVie’s Imbruvica. This earnings beat, coupled with a 0.84 EPS (beating estimates by 0.36), has ignited short-term bullish sentiment.

Options Playbook: High-Leverage Calls and Volatility Positioning for Beigene’s Bullish Momentum
• RSI: 44.44 (neutral, no overbought/oversold signal)
• MACD: 7.24 (bearish divergence with -2.70 histogram)
• Bollinger Bands: Price at 305.0 (near upper band of 308.97)
• 30D Support/Resistance: 293.98–295.31

Beigene’s technicals suggest a consolidation phase after its 5.76% surge. The RSI at 44.44 indicates no immediate overbought conditions, but the MACD histogram’s negative value (-2.70) hints at weakening momentum. Bollinger Bands show the stock is trading near its upper boundary, suggesting a potential retest of the 308.97 level. Key support lies at 295.45 (middle band), with a breakdown below 281.94 (lower band) signaling bearish reversal. For options, focus on high-leverage calls with moderate delta and elevated implied volatility.

• ONC20250919C300 (Call, $300 strike, 2025-09-19):
- IV: 35.63% (moderate)
- Delta: 0.6088 (moderate sensitivity)
- Theta: -0.3681 (high time decay)
- Gamma: 0.0109 (moderate price sensitivity)
- Turnover: 1,800 (liquid)
- Leverage: 17.02%
- Price change ratio: 28.57%
This contract offers a balance of leverage and liquidity, ideal for a 5% upside scenario (targeting $319.94). With a 17.02% leverage ratio, a 5% move would yield ~8.5% returns. The moderate IV and high gamma make it responsive to price swings.

• ONC20250919C310 (Call, $310 strike, 2025-09-19):
- IV: 38.04% (elevated)
- Delta: 0.4997 (moderate sensitivity)
- Theta: -0.3544 (high time decay)
- Gamma: 0.0106 (moderate price sensitivity)
- Turnover: 2,630 (high liquidity)
- Leverage: 22.03%
- Price change ratio: 54.44%
This high-leverage call is optimal for aggressive bulls. A 5% upside would push the payoff to $9.94 per contract, with a 22.03% leverage ratio amplifying returns. The elevated IV and high turnover ensure tradability, though the 38.04% IV suggests volatility is priced in.

If ONC holds above 295.45 (middle Bollinger band), ONC20250919C300 offers a balanced play. For a breakout above 308.97 (upper band), ONC20250919C310 could capitalize on momentum. Aggressive bulls may consider buying the C310 into a retest of 305.0.

Backtest Beigene Stock Performance
The ONC ETF has historically shown positive short-to-medium-term performance following a 6% intraday surge. The 3-day win rate is 62.32%, the 10-day win rate is 63.77%, and the 30-day win rate is 79.71%, indicating a higher probability of positive returns in the immediate aftermath of such a significant increase. The maximum return observed was 12.47% over 30 days, suggesting that there is potential for substantial gains in the months following the intraday surge.

Act Now: Position for Beigene’s Next Move as Biotech Sector Eyes $310 Threshold
Beigene’s 5.76% surge reflects strong Q2 fundamentals and a favorable technical setup. While the MACD histogram signals caution, the RSI’s neutrality and Bollinger Band positioning suggest a potential breakout above 308.97 could reignite momentum. With Amgen (AMGN) up 1.4% as the sector leader, biotech investors should monitor ONC’s ability to hold 295.45 support. A sustained close above 305.0 would validate bullish sentiment, making ONC20250919C300 and ONC20250919C310 prime candidates for capitalizing on a $310 retest. Watch for a breakdown below 293.98 to trigger defensive positioning.