BeiGene, Ltd. (NASDAQ:BGNE) Receives Average Recommendation of “Moderate Buy” from Brokerages

BeiGene, Ltd. (NASDAQ:BGNE) has been given a consensus rating of “Moderate Buy” by the seven brokerages that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $241.21.

A number of research firms have recently weighed in on BGNE. JMP Securities assumed coverage on BeiGene in a research note on Wednesday, September 18th. They issued a “market outperform” rating and a $288.00 target price for the company. Citigroup upped their target price on BeiGene from $269.00 to $288.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Bank of America reduced their target price on BeiGene from $180.00 to $152.50 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Finally, JPMorgan Chase & Co. upped their target price on BeiGene from $194.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th.

BeiGene Stock Performance

NASDAQ:BGNE opened at $212.39 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.98 and a quick ratio of 1.75. The business has a fifty day simple moving average of $206.64 and a two-hundred day simple moving average of $172.88. BeiGene has a 1 year low of $126.97 and a 1 year high of $248.16. The company has a market capitalization of $20.58 billion, a P/E ratio of -28.06 and a beta of 0.62.

BeiGene (NASDAQ:BGNE) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($1.15) earnings per share for the quarter, beating the consensus estimate of ($2.27) by $1.12. The company had revenue of $929.20 million during the quarter, compared to analysts’ expectations of $810.34 million. BeiGene had a negative return on equity of 14.93% and a negative net margin of 16.91%. The firm’s quarterly revenue was up 56.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($3.64) earnings per share. On average, analysts expect that BeiGene will post -5.07 earnings per share for the current year.

Insider Transactions at BeiGene

In other news, SVP Chan Henry Lee sold 834 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $160.57, for a total value of $133,915.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO John Oyler sold 6,175 shares of the stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $232.22, for a total transaction of $1,433,958.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Chan Henry Lee sold 834 shares of the stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $160.57, for a total value of $133,915.38. The disclosure for this sale can be found here. Insiders have sold a total of 23,904 shares of company stock valued at $5,034,965 in the last ninety days. 7.43% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BeiGene

Several hedge funds and other institutional investors have recently modified their holdings of the company. Capital International Investors lifted its holdings in shares of BeiGene by 11.5% during the 1st quarter. Capital International Investors now owns 7,064,428 shares of the company’s stock valued at $1,104,806,000 after buying an additional 727,556 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of BeiGene by 6.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,026,094 shares of the company’s stock worth $316,862,000 after purchasing an additional 117,905 shares in the last quarter. Capital International Inc. CA increased its stake in shares of BeiGene by 6.0% in the 1st quarter. Capital International Inc. CA now owns 858,364 shares of the company’s stock worth $134,240,000 after purchasing an additional 48,615 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of BeiGene in the 2nd quarter worth $54,412,000. Finally, Goldman Sachs Group Inc. increased its stake in shares of BeiGene by 175.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 214,339 shares of the company’s stock worth $38,658,000 after purchasing an additional 136,458 shares in the last quarter. 48.55% of the stock is owned by institutional investors.

BeiGene Company Profile

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.