BeiGene (NASDAQ:BGNE) Upgraded at StockNews.com

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

Several other analysts have also issued reports on BGNE. TD Cowen boosted their target price on shares of BeiGene from $254.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. upped their price target on shares of BeiGene from $200.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. 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. Finally, JMP Securities began coverage on shares of BeiGene in a research report on Wednesday, September 18th. They issued a “market outperform” rating and a $288.00 price target for the company. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $247.07.

BeiGene Stock Performance

Shares of BGNE stock opened at $189.23 on Wednesday. The company has a 50 day moving average price of $212.95 and a 200-day moving average price of $181.80. The company has a quick ratio of 1.75, a current ratio of 1.93 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $18.43 billion, a PE ratio of -22.96 and a beta of 0.63. BeiGene has a 52 week low of $126.97 and a 52 week high of $248.16.

BeiGene (NASDAQ:BGNE) last announced its earnings results 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). The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $983.26 million. BeiGene had a negative net margin of 25.94% and a negative return on equity of 25.12%. The business’s quarterly revenue was up 28.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.01 earnings per share. As a group, equities research analysts expect that BeiGene will post -5 earnings per share for the current year.

Insider Transactions at BeiGene

In related news, SVP Chan Henry Lee sold 1,202 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $237.10, for a total transaction of $284,994.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Xiaobin Wu sold 5,556 shares of the company’s 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,070 shares of company stock valued at $4,901,050. 7.43% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BeiGene

A number of hedge funds have recently bought and sold shares of BGNE. Blue Trust Inc. increased its position in BeiGene by 156.3% during the third quarter. Blue Trust Inc. now owns 123 shares of the company’s stock valued at $28,000 after acquiring an additional 75 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in BeiGene during the third quarter valued at $36,000. Point72 Asia Singapore Pte. Ltd. bought a new position in BeiGene during the third quarter valued at $67,000. Headlands Technologies LLC bought a new position in BeiGene during the first quarter valued at $50,000. Finally, SG Americas Securities LLC bought a new position in BeiGene during the third quarter valued at $105,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.

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.