ValuEngine lowered shares of Beigene (NASDAQ:BGNE) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.
Other analysts have also issued research reports about the company. Maxim Group set a $120.00 target price on Beigene and gave the company a buy rating in a report on Monday, December 18th. Robert W. Baird restated a neutral rating and issued a $83.00 target price (up previously from $58.00) on shares of Beigene in a report on Tuesday, November 14th. Cowen restated a buy rating on shares of Beigene in a report on Tuesday, November 14th. Morgan Stanley restated an overweight rating and issued a $95.00 target price (up previously from $87.00) on shares of Beigene in a report on Friday, October 6th. Finally, Zacks Investment Research lowered Beigene from a hold rating to a sell rating in a report on Monday, November 13th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. Beigene presently has an average rating of Hold and a consensus price target of $96.67.
Beigene (NASDAQ BGNE) traded down $1.98 on Wednesday, hitting $100.39. The stock had a trading volume of 80,200 shares, compared to its average volume of 156,233. The stock has a market capitalization of $4,630.00 and a price-to-earnings ratio of -76.63. Beigene has a one year low of $30.02 and a one year high of $118.95. The company has a debt-to-equity ratio of 0.20, a current ratio of 9.33 and a quick ratio of 9.27.
Beigene (NASDAQ:BGNE) last released its earnings results on Monday, November 13th. The company reported $2.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $2.31. The business had revenue of $220.21 million during the quarter, compared to analysts’ expectations of $1.55 million. During the same quarter in the previous year, the company earned ($1.08) EPS. equities analysts expect that Beigene will post -2.04 earnings per share for the current year.
In other news, CMO Amy C. Peterson sold 3,601 shares of the company’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $82.96, for a total value of $298,738.96. Following the transaction, the chief marketing officer now directly owns 1,201 shares of the company’s stock, valued at $99,634.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John Oyler sold 20,137 shares of the company’s stock in a transaction on Tuesday, December 26th. The stock was sold at an average price of $96.46, for a total transaction of $1,942,415.02. Following the completion of the transaction, the chief executive officer now directly owns 110,179 shares in the company, valued at $10,627,866.34. The disclosure for this sale can be found here. Insiders sold 483,482 shares of company stock worth $42,139,474 over the last ninety days. 19.90% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Quantbot Technologies LP acquired a new position in shares of Beigene in the third quarter worth $160,000. Teachers Retirement System of The State of Kentucky acquired a new position in shares of Beigene in the third quarter worth $248,000. SG Americas Securities LLC acquired a new position in Beigene during the second quarter worth $111,000. Aperio Group LLC acquired a new position in Beigene during the third quarter worth $301,000. Finally, Jane Street Group LLC acquired a new position in Beigene during the third quarter worth $339,000. 55.32% of the stock is currently owned by institutional investors and hedge funds.
Beigene Company Profile
BeiGene, Ltd. is a clinical-stage biopharmaceutical company. The Company is focused in the discovery and development of molecularly targeted and immuno-oncology drugs for the treatment of cancer. The Company had used its cancer biology platform to develop four clinical-stage drug candidates, such as BGB-3111, BGB-A317, BGB-290 and BGB-283, as of December 31, 2016.
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