BeiGene (NASDAQ:BGNE) Receives New Coverage from Analysts at JMP Securities

Equities researchers at JMP Securities started coverage on shares of BeiGene (NASDAQ:BGNE) in a report issued on Wednesday, Benzinga reports. The firm set a “market outperform” rating and a $288.00 price target on the stock. JMP Securities’ price target would indicate a potential upside of 45.82% from the company’s previous close.

A number of other research analysts have also recently weighed in on BGNE. JPMorgan Chase & Co. boosted their target price on shares of BeiGene from $194.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Citigroup increased their price objective on BeiGene from $269.00 to $288.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Finally, Bank of America lowered their target price on BeiGene from $180.00 to $152.50 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, BeiGene presently has an average rating of “Moderate Buy” and a consensus target price of $241.21.

BeiGene Trading Up 0.5 %

NASDAQ:BGNE opened at $197.51 on Wednesday. BeiGene has a 52 week low of $126.97 and a 52 week high of $215.00. The firm has a 50-day moving average price of $179.26 and a two-hundred day moving average price of $163.74. The firm has a market cap of $19.14 billion, a price-to-earnings ratio of -26.09 and a beta of 0.61. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.98.

BeiGene (NASDAQ:BGNE) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($1.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.27) by $1.12. The firm had revenue of $929.20 million during the quarter, compared to the consensus estimate of $810.34 million. BeiGene had a negative return on equity of 14.93% and a negative net margin of 16.91%. The business’s revenue for the quarter was up 56.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($3.64) EPS. On average, equities analysts expect that BeiGene will post -5.13 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Lai Wang sold 1,064 shares of the stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $159.80, for a total transaction of $170,027.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other BeiGene news, insider Lai Wang sold 1,064 shares of the firm’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $159.80, for a total value of $170,027.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Titus B. Ball sold 137 shares of the business’s stock in a transaction 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 three months, insiders sold 13,210 shares of company stock worth $2,269,721. 7.43% of the stock is owned by corporate insiders.

Institutional Trading of BeiGene

Several institutional investors and hedge funds have recently modified their holdings of BGNE. Headlands Technologies LLC bought a new position in shares of BeiGene in the first quarter worth approximately $50,000. Benjamin F. Edwards & Company Inc. grew its stake in BeiGene by 51.5% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 821 shares of the company’s stock worth $128,000 after buying an additional 279 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of BeiGene in the 4th quarter worth $183,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of BeiGene during the 4th quarter valued at $215,000. Finally, Acadian Asset Management LLC lifted its holdings in shares of BeiGene by 204.1% during the 1st quarter. Acadian Asset Management LLC now owns 1,265 shares of the company’s stock worth $197,000 after acquiring an additional 849 shares during the last quarter. Hedge funds and other institutional investors 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.