TD Cowen Forecasts Strong Price Appreciation for BeiGene (NASDAQ:BGNE) Stock

BeiGene (NASDAQ:BGNE) had its price target hoisted by TD Cowen from $254.00 to $260.00 in a research note issued to investors on Wednesday,Benzinga reports. TD Cowen currently has a buy rating on the stock.

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

BeiGene Stock Performance

Shares of BGNE opened at $195.45 on Wednesday. The stock has a market capitalization of $19.04 billion, a PE ratio of -23.72 and a beta of 0.63. The business’s fifty day moving average price is $212.91 and its 200 day moving average price is $181.72. 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 12-month low of $126.97 and a 12-month high of $248.16.

BeiGene (NASDAQ:BGNE) last issued its 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). The company had revenue of $1 billion during the quarter, compared to analyst estimates of $983.26 million. BeiGene had a negative net margin of 25.94% and a negative return on equity of 25.15%. The business’s revenue was up 28.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.01 earnings per share. Equities research analysts forecast that BeiGene will post -5 EPS for the current year.

Insider Buying and Selling

In other BeiGene news, COO Xiaobin Wu sold 5,556 shares of BeiGene 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 is available at the SEC website. In related news, COO Xiaobin Wu sold 5,556 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 SEC, which can be accessed through this hyperlink. Also, insider Titus B. Ball sold 137 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $189.94, for a total transaction of $26,021.78. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,070 shares of company stock worth $4,901,050. 7.43% of the stock is owned by company insiders.

Institutional Investors Weigh In On BeiGene

Institutional investors have recently added to or reduced their stakes in the company. Capital International Investors raised its stake in shares of BeiGene by 11.5% in the first quarter. Capital International Investors now owns 7,064,428 shares of the company’s stock valued at $1,104,806,000 after purchasing an additional 727,556 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of BeiGene during the 2nd quarter worth about $54,412,000. M&G Plc acquired a new stake in shares of BeiGene during the 1st quarter valued at about $29,649,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in BeiGene by 160.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 225,854 shares of the company’s stock valued at $50,706,000 after purchasing an additional 138,978 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in 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 valued at $316,862,000 after buying an additional 117,905 shares in the last quarter. 48.55% of the stock is owned by institutional investors and hedge funds.

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.