BeiGene, Ltd. (NASDAQ:BGNE) Receives $253.69 Average Target Price from Analysts

BeiGene, Ltd. (NASDAQ:BGNE) has earned an average recommendation of “Moderate Buy” from the eight analysts that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $253.69.

BGNE has been the subject of several recent research reports. JMP Securities started coverage on BeiGene in a report on Wednesday, September 18th. They issued a “market outperform” rating and a $288.00 price target for the company. TD Cowen raised their target price on BeiGene from $254.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. increased 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. StockNews.com lowered shares of BeiGene from a “buy” rating to a “hold” rating in a research report on Thursday, November 21st. Finally, Morgan Stanley reissued an “overweight” rating and issued a $300.00 price target on shares of BeiGene in a research report on Tuesday, December 3rd.

BeiGene Stock Performance

BGNE opened at $184.71 on Wednesday. The company has a quick ratio of 1.72, a current ratio of 1.93 and a debt-to-equity ratio of 0.05. The stock’s 50 day moving average price is $195.64 and its two-hundred day moving average price is $189.04. The firm has a market capitalization of $18.03 billion, a P/E ratio of -22.42 and a beta of 0.57. BeiGene has a 12-month low of $126.97 and a 12-month high of $248.16.

BeiGene (NASDAQ:BGNE) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($1.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.11) by ($0.04). BeiGene had a negative return on equity of 25.12% and a negative net margin of 25.94%. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $983.26 million. During the same quarter in the previous year, the business posted $2.01 EPS. The company’s revenue was up 28.2% on a year-over-year basis. On average, equities analysts forecast that BeiGene will post -5.64 earnings per share for the current year.

Insider Buying and Selling

In other BeiGene news, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Xiaodong Wang sold 40,468 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $190.10, for a total transaction of $7,692,966.80. The disclosure for this sale can be found here. Insiders sold 1,125,420 shares of company stock worth $211,134,043 in the last quarter. 7.43% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BeiGene

A number of institutional investors and hedge funds have recently bought and sold shares of BGNE. Driehaus Capital Management LLC acquired a new stake in shares of BeiGene in the second quarter valued at $1,168,000. The Manufacturers Life Insurance Company increased its position in BeiGene by 8.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 50,262 shares of the company’s stock valued at $7,171,000 after acquiring an additional 3,915 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of BeiGene by 160.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 225,854 shares of the company’s stock worth $50,706,000 after acquiring an additional 138,978 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of BeiGene by 8.9% during the second quarter. Van ECK Associates Corp now owns 95,577 shares of the company’s stock worth $13,636,000 after purchasing an additional 7,816 shares in the last quarter. Finally, Barings LLC grew its stake in shares of BeiGene by 66.4% during the second quarter. Barings LLC now owns 51,763 shares of the company’s stock valued at $7,385,000 after purchasing an additional 20,663 shares during the last quarter. Institutional investors and hedge funds own 48.55% of the company’s stock.

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.