BeiGene (NASDAQ:BGNE) Shares Gap Down – Here’s What Happened

BeiGene, Ltd. (NASDAQ:BGNE)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $236.10, but opened at $228.73. BeiGene shares last traded at $225.32, with a volume of 96,668 shares changing hands.

Wall Street Analyst Weigh In

BGNE has been the topic of several research analyst reports. JPMorgan Chase & Co. upped their price target on shares of BeiGene from $194.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Citigroup increased their price target on shares of BeiGene from $269.00 to $288.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Bank of America dropped their price objective on shares of BeiGene from $180.00 to $152.50 and set a “neutral” rating for the company in a report on Tuesday, July 9th. Finally, JMP Securities initiated coverage on shares of BeiGene in a research report on Wednesday, September 18th. They issued a “market outperform” rating and a $288.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $241.21.

BeiGene Stock Down 3.6 %

The company has a debt-to-equity ratio of 0.06, a current ratio of 1.98 and a quick ratio of 1.75. The stock has a 50 day moving average price of $202.89 and a 200-day moving average price of $171.29. The stock has a market capitalization of $22.06 billion, a P/E ratio of -29.55 and a beta of 0.62.

BeiGene (NASDAQ:BGNE) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($1.15) EPS for the quarter, topping analysts’ consensus estimates of ($2.27) by $1.12. BeiGene had a negative return on equity of 14.93% and a negative net margin of 16.91%. The business had revenue of $929.20 million for the quarter, compared to analysts’ expectations of $810.34 million. During the same period in the previous year, the firm earned ($3.64) EPS. The business’s quarterly revenue was up 56.1% on a year-over-year basis. As a group, research analysts expect that BeiGene, Ltd. will post -5.07 EPS for the current fiscal year.

Insider Activity

In related news, CEO John Oyler sold 6,175 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $232.22, for a total value of $1,433,958.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other BeiGene news, SVP Chan Henry Lee sold 834 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $160.57, for a total value of $133,915.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John Oyler sold 6,175 shares of the stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $232.22, for a total value of $1,433,958.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,904 shares of company stock valued at $5,034,965. Insiders own 7.43% of the company’s stock.

Institutional Trading of BeiGene

A number of hedge funds have recently modified their holdings of the business. Driehaus Capital Management LLC bought a new position in BeiGene during the 2nd quarter valued at approximately $1,168,000. Swedbank AB purchased a new stake in BeiGene during the 1st quarter valued at about $2,596,000. AIA Group Ltd increased its stake in BeiGene by 38.9% during the 1st quarter. AIA Group Ltd now owns 18,497 shares of the company’s stock valued at $2,893,000 after purchasing an additional 5,181 shares in the last quarter. M&G Plc purchased a new position in BeiGene in the first quarter worth about $29,649,000. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of BeiGene by 8.4% during the second quarter. The Manufacturers Life Insurance Company now owns 50,262 shares of the company’s stock valued at $7,171,000 after buying an additional 3,915 shares during the last quarter. 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.