BeiGene (NASDAQ:BGNE) Shares Gap Up to $130.94

BeiGene, Ltd. (NASDAQ:BGNE)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $130.94, but opened at $135.75. BeiGene shares last traded at $141.07, with a volume of 36,287 shares traded.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Sanford C. Bernstein decreased their price target on BeiGene from $196.00 to $161.00 and set a “market perform” rating on the stock in a research note on Wednesday, March 27th. Guggenheim cut their price objective on BeiGene from $350.00 to $345.00 and set a “buy” rating on the stock in a research report on Tuesday, February 27th. TD Cowen lifted their price objective on BeiGene from $235.00 to $236.00 and gave the stock a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. lifted their price objective on BeiGene from $184.00 to $186.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Finally, Bank of America cut their price objective on BeiGene from $179.30 to $164.30 and set a “neutral” rating on the stock in a research report on Monday, April 8th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $250.13.

BeiGene Stock Up 3.7 %

The company has a quick ratio of 2.09, a current ratio of 2.32 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $13.78 billion, a P/E ratio of -16.96 and a beta of 0.61. The company has a 50-day moving average of $154.68 and a two-hundred day moving average of $167.53.

BeiGene (NASDAQ:BGNE) last announced its quarterly earnings data on Monday, February 26th. The company reported ($3.53) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.61) by $0.08. The business had revenue of $634.40 million during the quarter, compared to analysts’ expectations of $632.52 million. BeiGene had a negative return on equity of 23.12% and a negative net margin of 35.86%. The firm’s quarterly revenue was up 66.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($4.29) earnings per share. On average, research analysts predict that BeiGene, Ltd. will post -8.87 EPS for the current year.

Insider Buying and Selling at BeiGene

In other BeiGene news, CEO John Oyler sold 37,668 shares of BeiGene stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $164.02, for a total transaction of $6,178,305.36. Following the completion of the transaction, the chief executive officer now owns 12,332 shares in the company, valued at $2,022,694.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other BeiGene news, CEO John Oyler sold 37,668 shares of BeiGene stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $164.02, for a total transaction of $6,178,305.36. Following the completion of the transaction, the chief executive officer now owns 12,332 shares in the company, valued at $2,022,694.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Julia Aijun Wang sold 397 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $167.08, for a total value of $66,330.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 64,781 shares of company stock worth $10,222,381. 7.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Toronto Dominion Bank raised its stake in shares of BeiGene by 166.4% in the third quarter. Toronto Dominion Bank now owns 333 shares of the company’s stock worth $60,000 after purchasing an additional 208 shares during the last quarter. Knights of Columbus Asset Advisors LLC raised its stake in shares of BeiGene by 20.5% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 447 shares of the company’s stock worth $80,000 after purchasing an additional 76 shares during the last quarter. Benjamin F. Edwards & Company Inc. purchased a new stake in BeiGene during the fourth quarter valued at $98,000. PNC Financial Services Group Inc. increased its position in BeiGene by 123.9% during the third quarter. PNC Financial Services Group Inc. now owns 732 shares of the company’s stock valued at $132,000 after acquiring an additional 405 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in BeiGene during the fourth quarter valued at $183,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.

About BeiGene

BeiGene, Ltd., through its subsidiaries, engages in the development and commercialization of oncology medicines worldwide. Its products include BRUKINSA to treat various blood cancers; TEVIMBRA to treat various solid tumor and blood cancers; PARTRUVIX for the treatment of various solid tumor malignancies; XGEVA to treat bone metastases from solid tumors and multiple myeloma, as well as giant cell tumor of bone; BLINCYTO to treat acute lymphoblastic leukemia; KYPROLIS to treat R/R multiple myeloma; REVLIMID to treat multiple myeloma; VIDAZA to treat myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia; SYLVANT to treat idiopathic multicentric castleman disease; QARZIBA to treat neuroblastoma; POBEVCY to treat metastatic colorectal cancer, liver cancer, and non-small cell lung cancer (NSCLC); BAITUOWEI, to treat breast and prostate cancers; TAFINLAR and MEKINIST to treat NSCLC and melanoma; VOTRIENT for advance renal cell carcinoma; AFINITOR for advance renal cell carcinoma, NET, SEGA, & breast cancers; and ZYKADIA to treat ALK + NSCLC.