BeiGene (NASDAQ:BGNE) Sees Large Volume Increase – Time to Buy?

Shares of BeiGene, Ltd. (NASDAQ:BGNE) saw unusually-high trading volume on Monday . Approximately 1,411,044 shares traded hands during mid-day trading, an increase of 421% from the previous session’s volume of 270,992 shares.The stock last traded at $214.19 and had previously closed at $215.00.

Wall Street Analysts Forecast Growth

BGNE has been the topic of several research analyst reports. JMP Securities initiated coverage on BeiGene in a research report on Wednesday, September 18th. They set a “market outperform” rating and a $288.00 target price on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $300.00 price objective on shares of BeiGene in a research note on Tuesday. 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 research note on Tuesday, October 22nd. StockNews.com lowered shares of BeiGene from a “buy” rating to a “hold” rating in a report on Thursday, November 21st. Finally, TD Cowen boosted their price objective on BeiGene from $254.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $253.69.

BeiGene Price Performance

The company has a market cap of $20.07 billion, a P/E ratio of -25.00 and a beta of 0.57. The business’s fifty day moving average is $212.45 and its 200 day moving average is $185.24. The company has a current ratio of 1.93, a quick ratio of 1.72 and a debt-to-equity ratio of 0.05.

BeiGene (NASDAQ:BGNE) last posted its quarterly 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). BeiGene had a negative net margin of 25.94% and a negative return on equity of 25.12%. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $983.26 million. During the same period last year, the firm earned $2.01 EPS. The business’s revenue for the quarter was up 28.2% on a year-over-year basis. As a group, sell-side analysts anticipate that BeiGene, Ltd. will post -5.49 EPS for the current year.

Insiders Place Their Bets

In related news, insider Xiaodong Wang sold 40,468 shares of BeiGene stock in a transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Xiaobin Wu sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $200.00, for a total transaction of $100,000.00. Following the completion of the transaction, the chief operating officer now directly owns 4,500 shares of the company’s stock, valued at approximately $900,000. This represents a 10.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 57,845 shares of company stock worth $11,514,300 in the last quarter. 7.43% of the stock is owned by company insiders.

Institutional Trading of BeiGene

Several hedge funds and other institutional investors have recently bought and sold shares of BGNE. Blue Trust Inc. raised its position in BeiGene by 156.3% in the 3rd quarter. Blue Trust Inc. now owns 123 shares of the company’s stock worth $28,000 after purchasing an additional 75 shares during the period. Raymond James & Associates lifted its position in BeiGene by 0.4% in the second quarter. Raymond James & Associates now owns 21,275 shares of the company’s stock valued at $3,035,000 after purchasing an additional 76 shares during the last quarter. Truist Financial Corp boosted its position in BeiGene by 10.1% during the 2nd quarter. Truist Financial Corp now owns 1,521 shares of the company’s stock valued at $217,000 after buying an additional 140 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of BeiGene in the third quarter worth about $36,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of BeiGene by 0.3% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 97,895 shares of the company’s stock worth $21,978,000 after buying an additional 266 shares during the last quarter. 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.