Wall Street brokerages expect that Beigene Ltd (NASDAQ:BGNE) will announce sales of $52.77 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Beigene’s earnings. The lowest sales estimate is $40.00 million and the highest is $65.31 million. Beigene posted sales of $32.54 million during the same quarter last year, which suggests a positive year over year growth rate of 62.2%. The company is scheduled to announce its next quarterly earnings report on Wednesday, May 8th.
On average, analysts expect that Beigene will report full year sales of $302.23 million for the current financial year, with estimates ranging from $180.00 million to $456.45 million. For the next year, analysts forecast that the business will post sales of $406.54 million, with estimates ranging from $312.40 million to $560.99 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Beigene.
Beigene (NASDAQ:BGNE) last released its quarterly earnings results on Wednesday, February 27th. The company reported ($4.52) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.87) by ($1.65). Beigene had a negative return on equity of 42.63% and a negative net margin of 339.91%. The company had revenue of $58.67 million for the quarter, compared to analysts’ expectations of $59.37 million. During the same quarter last year, the company earned ($2.19) EPS. Beigene’s revenue for the quarter was up 222.8% compared to the same quarter last year.
Several research analysts have issued reports on BGNE shares. JPMorgan Chase & Co. started coverage on Beigene in a research report on Wednesday, November 28th. They issued an “overweight” rating and a $174.00 price objective for the company. Maxim Group set a $170.00 price objective on Beigene and gave the stock a “buy” rating in a research report on Tuesday, November 27th. BidaskClub upgraded Beigene from a “hold” rating to a “buy” rating in a research report on Friday, November 30th. Piper Jaffray Companies set a $200.00 price objective on Beigene and gave the stock a “buy” rating in a research report on Sunday, December 2nd. Finally, Zacks Investment Research cut Beigene from a “buy” rating to a “hold” rating in a research report on Thursday, January 3rd. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Beigene has a consensus rating of “Buy” and a consensus price target of $177.68.
Shares of Beigene stock traded up $1.11 during trading hours on Friday, hitting $125.57. 3,896 shares of the company were exchanged, compared to its average volume of 306,935. The stock has a market capitalization of $7.38 billion, a PE ratio of -10.31 and a beta of 1.20. The company has a debt-to-equity ratio of 0.11, a current ratio of 7.89 and a quick ratio of 7.82. Beigene has a 1 year low of $105.19 and a 1 year high of $220.10.
In other Beigene news, Director Xiaodong Wang sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $146.82, for a total transaction of $734,100.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John Oyler sold 25,499 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $151.73, for a total value of $3,868,963.27. Following the sale, the chief executive officer now owns 17,298,245 shares of the company’s stock, valued at approximately $2,624,662,713.85. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,767 shares of company stock worth $7,691,704. Company insiders own 13.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC boosted its position in Beigene by 2.3% during the 4th quarter. FMR LLC now owns 5,594,173 shares of the company’s stock valued at $784,639,000 after purchasing an additional 128,072 shares during the period. Hillhouse Capital Advisors Ltd. acquired a new position in shares of Beigene in the 4th quarter valued at $622,467,000. Hsbc Holdings PLC lifted its stake in shares of Beigene by 1,214.2% in the 3rd quarter. Hsbc Holdings PLC now owns 2,628,418 shares of the company’s stock valued at $452,666,000 after purchasing an additional 2,428,418 shares during the period. BlackRock Inc. lifted its stake in shares of Beigene by 294.9% in the 4th quarter. BlackRock Inc. now owns 1,877,110 shares of the company’s stock valued at $263,281,000 after purchasing an additional 1,401,773 shares during the period. Finally, Capital Research Global Investors acquired a new position in shares of Beigene in the 3rd quarter valued at $314,859,000. Hedge funds and other institutional investors own 80.24% of the company’s stock.
Beigene Company Profile
BeiGene, Ltd. develops and commercializes molecularly-targeted and immuno-oncology drugs for the treatment of cancer. Its commercial products include ABRAXANE, a chemotherapy product for the treatment of breast, non-small cell lung, pancreatic, and gastric cancer; REVLIMID, an oral immunomodulatory drug for the treatment of multiple myeloma in combination with dexamethasone; and VIDAZA, a pyrimidine nucleoside analog for the treatment of intermediate-2 and myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia with 20% to 30% blasts and multi-lineage dysplasia.
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