BeiGene (NASDAQ:BGNE) Rating Increased to Buy at StockNews.com

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

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

BeiGene Trading Down 2.1 %

NASDAQ BGNE opened at $189.23 on Wednesday. The company’s 50-day moving average price is $212.95 and its 200-day moving average price is $181.80. The company has a current ratio of 1.93, a quick ratio of 1.75 and a debt-to-equity ratio of 0.05. The stock has a market cap of $18.43 billion, a PE ratio of -22.96 and a beta of 0.63. BeiGene has a 12 month low of $126.97 and a 12 month high of $248.16.

BeiGene (NASDAQ:BGNE) last posted 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). The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $983.26 million. BeiGene had a negative return on equity of 25.12% and a negative net margin of 25.94%. The company’s revenue for the quarter was up 28.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.01 earnings per share. Equities research analysts forecast that BeiGene will post -5 earnings per share for the current year.

Insider Buying and Selling at BeiGene

In related news, COO Xiaobin Wu sold 5,556 shares of the 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Titus B. Ball sold 137 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were 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 ninety days, insiders sold 23,070 shares of company stock valued at $4,901,050. 7.43% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BeiGene

Hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Trust Inc. raised its position in shares of BeiGene by 156.3% in the 3rd quarter. Blue Trust Inc. now owns 123 shares of the company’s stock valued at $28,000 after purchasing an additional 75 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of BeiGene in the 3rd quarter valued at approximately $36,000. Headlands Technologies LLC purchased a new position in shares of BeiGene in the 1st quarter valued at approximately $50,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in BeiGene during the 3rd quarter worth approximately $67,000. Finally, SG Americas Securities LLC purchased a new position in BeiGene during the 3rd quarter worth approximately $105,000. 48.55% of the stock is owned by hedge funds and other 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.