BeiGene (NASDAQ:BGNE) Upgraded at StockNews.com

StockNews.com upgraded shares of BeiGene (NASDAQ:BGNE) from a hold rating to a buy rating in a research note published on Wednesday.

Several other equities analysts have also recently commented on BGNE. TD Cowen boosted their target price on BeiGene from $254.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday. JMP Securities started coverage on BeiGene in a research report on Wednesday, September 18th. They set a “market outperform” rating and a $288.00 price target on the stock. JPMorgan Chase & Co. upped their price objective on shares of BeiGene from $200.00 to $235.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Finally, Citigroup boosted their price objective on shares of BeiGene from $269.00 to $288.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $247.07.

BeiGene Trading Up 0.9 %

BGNE opened at $195.45 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.98 and a quick ratio of 1.75. BeiGene has a fifty-two week low of $126.97 and a fifty-two week high of $248.16. The firm has a market capitalization of $19.04 billion, a price-to-earnings ratio of -23.72 and a beta of 0.63. The company’s 50 day moving average price is $212.91 and its two-hundred day moving average price is $181.72.

BeiGene (NASDAQ:BGNE) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($1.15) EPS for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.04). BeiGene had a negative net margin of 25.94% and a negative return on equity of 25.15%. The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $983.26 million. During the same quarter last year, the firm posted $2.01 EPS. The business’s revenue for the quarter was up 28.2% compared to the same quarter last year. As a group, research analysts predict that BeiGene will post -5 earnings per share for the current year.

Insider Activity at BeiGene

In other news, COO Xiaobin Wu sold 5,556 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $189.65, for a total transaction of $1,053,695.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other BeiGene news, COO Xiaobin Wu sold 5,556 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $189.65, for a total value of $1,053,695.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John Oyler sold 6,175 shares of the company’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $232.22, for a total transaction of $1,433,958.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,070 shares of company stock worth $4,901,050. Company insiders own 7.43% of the company’s stock.

Institutional Investors Weigh In On BeiGene

A number of institutional investors have recently modified their holdings of BGNE. FMR LLC boosted its holdings in BeiGene by 0.8% in the 3rd quarter. FMR LLC now owns 1,660,011 shares of the company’s stock worth $372,689,000 after buying an additional 12,855 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of BeiGene by 14.2% in the third quarter. The Manufacturers Life Insurance Company now owns 57,384 shares of the company’s stock valued at $12,883,000 after purchasing an additional 7,122 shares during the period. DRW Securities LLC acquired a new stake in shares of BeiGene during the 3rd quarter worth approximately $573,000. Citigroup Inc. increased its stake in BeiGene by 25.9% during the third quarter. Citigroup Inc. now owns 26,312 shares of the company’s stock worth $5,907,000 after acquiring an additional 5,410 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new stake in BeiGene in the 3rd quarter valued at about $2,666,000. 48.55% of the stock is currently owned by institutional investors and hedge funds.

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.