JPMorgan Chase & Co. Boosts BeiGene (NASDAQ:BGNE) Price Target to $235.00

BeiGene (NASDAQ:BGNE) had its price target boosted by JPMorgan Chase & Co. from $200.00 to $235.00 in a research note released on Tuesday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other equities research analysts have also issued reports on the company. Bank of America dropped their target price on BeiGene from $180.00 to $152.50 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Citigroup raised their price target on BeiGene from $269.00 to $288.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Finally, JMP Securities initiated coverage on BeiGene in a research note on Wednesday, September 18th. They issued a “market outperform” rating and a $288.00 price target for the company. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $246.21.

BeiGene Trading Down 0.6 %

NASDAQ BGNE opened at $212.81 on Tuesday. The firm has a market cap of $20.62 billion, a P/E ratio of -28.11 and a beta of 0.62. 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’s 50-day moving average is $210.15 and its 200-day moving average is $175.61. BeiGene has a one year low of $126.97 and a one year high of $248.16.

BeiGene (NASDAQ:BGNE) last announced its earnings results 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. 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 analyst estimates of $810.34 million. During the same quarter last year, the firm earned ($3.64) EPS. BeiGene’s revenue for the quarter was up 56.1% compared to the same quarter last year. Sell-side analysts anticipate that BeiGene will post -5.07 earnings per share for the current fiscal year.

Insider Transactions at BeiGene

In other news, SVP Chan Henry Lee sold 834 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $160.57, for a total value of $133,915.38. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other BeiGene news, SVP Chan Henry Lee sold 834 shares of BeiGene 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Xiaobin Wu sold 5,556 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $189.65, for a total value of $1,053,695.40. The disclosure for this sale can be found here. In the last three months, insiders sold 23,904 shares of company stock worth $5,034,965. 7.43% of the stock is owned by company insiders.

Hedge Funds Weigh In On BeiGene

Hedge funds have recently bought and sold shares of the company. Blue Trust Inc. increased its holdings in BeiGene by 156.3% in the 3rd quarter. Blue Trust Inc. now owns 123 shares of the company’s stock valued at $28,000 after buying an additional 75 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of BeiGene during the 3rd quarter valued at approximately $36,000. Headlands Technologies LLC bought a new stake in shares of BeiGene during the 1st quarter valued at approximately $50,000. SG Americas Securities LLC bought a new stake in shares of BeiGene during the 3rd quarter valued at approximately $105,000. Finally, Benjamin F. Edwards & Company Inc. boosted its position in BeiGene by 51.5% during 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 during the period. 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.