BeiGene (NASDAQ:BGNE) Trading Up 4.3% After Analyst Upgrade

BeiGene, Ltd. (NASDAQ:BGNE)’s share price was up 4.3% during mid-day trading on Thursday after TD Cowen raised their price target on the stock from $235.00 to $236.00. TD Cowen currently has a buy rating on the stock. BeiGene traded as high as $150.38 and last traded at $150.34. Approximately 109,824 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 255,402 shares. The stock had previously closed at $144.12.

Other equities research analysts have also issued research reports about the stock. JPMorgan Chase & Co. boosted their price target on shares of BeiGene from $184.00 to $186.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Sanford C. Bernstein reduced their target price on shares of 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 reduced their target price on shares of BeiGene from $350.00 to $345.00 and set a “buy” rating on the stock in a research note on Tuesday, February 27th. Finally, Bank of America reduced their target price on shares of BeiGene from $179.30 to $164.30 and set a “neutral” rating on the stock in a research note on Monday, April 8th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $250.13.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Handelsbanken Fonder AB raised its position in shares of BeiGene by 1.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 27,809 shares of the company’s stock valued at $5,002,000 after acquiring an additional 400 shares during the period. TD Asset Management Inc raised its position in shares of BeiGene by 91.9% in the 3rd quarter. TD Asset Management Inc now owns 100,256 shares of the company’s stock valued at $18,033,000 after acquiring an additional 48,018 shares during the period. Assetmark Inc. raised its position in shares of BeiGene by 10.1% in the 3rd quarter. Assetmark Inc. now owns 10,492 shares of the company’s stock valued at $1,887,000 after acquiring an additional 961 shares during the period. Long Corridor Asset Management Ltd raised its position in shares of BeiGene by 10.8% in the 3rd quarter. Long Corridor Asset Management Ltd now owns 4,907 shares of the company’s stock valued at $883,000 after acquiring an additional 477 shares during the period. Finally, China Universal Asset Management Co. Ltd. raised its position in shares of BeiGene by 98.9% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,078 shares of the company’s stock valued at $194,000 after acquiring an additional 536 shares during the period. Institutional investors own 48.55% of the company’s stock.

BeiGene Stock Up 3.1 %

The firm has a market capitalization of $14.21 billion, a price-to-earnings ratio of -17.48 and a beta of 0.61. The business’s 50-day moving average is $154.73 and its two-hundred day moving average is $167.40. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.09 and a current ratio of 2.32.

BeiGene (NASDAQ:BGNE) last announced its earnings results on Monday, February 26th. The company reported ($3.53) EPS for the quarter, topping the consensus estimate of ($3.61) by $0.08. The firm had revenue of $634.40 million for the quarter, compared to the consensus estimate of $632.52 million. BeiGene had a negative net margin of 35.86% and a negative return on equity of 23.12%. The business’s quarterly revenue was up 66.9% on a year-over-year basis. During the same period last year, the company posted ($4.29) EPS. On average, equities analysts anticipate that BeiGene, Ltd. will post -8.87 earnings per share for the current year.

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.