BeiGene (NASDAQ:BGNE) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of BeiGene (NASDAQ:BGNE) in a research report released on Monday morning. The firm issued a hold rating on the stock.

Several other equities analysts have also weighed in on BGNE. JPMorgan Chase & Co. upped their price objective on shares of BeiGene from $200.00 to $235.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Morgan Stanley reissued an “overweight” rating and set a $300.00 target price on shares of BeiGene in a research report on Tuesday, December 3rd. Finally, TD Cowen boosted their target price on shares of BeiGene from $254.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $253.69.

BeiGene Stock Performance

The firm’s fifty day moving average is $194.32 and its 200-day moving average is $188.98. BeiGene has a fifty-two week low of $126.97 and a fifty-two week high of $248.16. The firm has a market capitalization of $18.03 billion, a price-to-earnings ratio of -22.42 and a beta of 0.57. The company has a quick ratio of 1.72, a current ratio of 1.93 and a debt-to-equity ratio of 0.05.

BeiGene (NASDAQ:BGNE) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($1.15) earnings per share 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 company had revenue of $1 billion for the quarter, compared to analyst estimates of $983.26 million. During the same quarter in the prior year, the company posted $2.01 EPS. BeiGene’s revenue for the quarter was up 28.2% on a year-over-year basis. Equities research analysts forecast that BeiGene will post -5.64 EPS for the current year.

Insiders Place Their Bets

In other news, Director Bros. Advisors Lp Baker sold 1,037,017 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $187.27, for a total transaction of $194,202,173.59. Following the completion of the transaction, the director now directly owns 791,493 shares of the company’s stock, valued at $148,222,894.11. This represents a 56.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Xiaodong Wang sold 40,468 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were 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. In the last ninety days, insiders sold 1,119,245 shares of company stock valued at $209,700,084. Corporate insiders own 7.43% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Blue Trust Inc. grew its position in shares of BeiGene by 156.3% during the 3rd 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 period. Truist Financial Corp grew its position in shares of 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 acquiring an additional 140 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of BeiGene during the 3rd quarter valued at approximately $36,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of BeiGene by 0.3% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 97,895 shares of the company’s stock valued at $21,978,000 after acquiring an additional 266 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of BeiGene during the 3rd quarter valued at approximately $67,000. 48.55% of the stock is owned by institutional investors.

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.