BeiGene (NASDAQ:BGNE) Coverage Initiated by Analysts at StockNews.com

Research analysts at StockNews.com began coverage on shares of BeiGene (NASDAQ:BGNE) in a report released on Saturday. The brokerage set a “hold” rating on the stock.

A number of other brokerages also recently commented on BGNE. JMP Securities started coverage on BeiGene in a research report on Wednesday, September 18th. They issued a “market outperform” rating and a $288.00 price objective for the company. Morgan Stanley reaffirmed an “overweight” rating and set a $300.00 price objective on shares of BeiGene in a research note on Tuesday, December 3rd. TD Cowen raised 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. Finally, 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. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $253.69.

BeiGene Stock Performance

BeiGene has a 1-year low of $126.97 and a 1-year high of $248.16. The stock has a market cap of $18.03 billion, a price-to-earnings ratio of -22.42 and a beta of 0.57. The company has a 50-day moving average price of $194.32 and a 200-day moving average price of $188.98. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.72 and a current ratio of 1.93.

BeiGene (NASDAQ:BGNE) last announced its quarterly earnings data 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 firm had revenue of $1 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the company posted $2.01 EPS. On average, equities research analysts forecast that BeiGene will post -5.64 earnings per share for the current fiscal year.

Insider Transactions at BeiGene

In other news, Director Bros. Advisors Lp Baker sold 1,037,017 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 791,493 shares of the company’s stock, valued at approximately $148,222,894.11. The trade was a 56.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Xiaodong Wang sold 40,468 shares of the company’s stock in a transaction 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 quarter, insiders sold 1,119,245 shares of company stock worth $209,700,084. 7.43% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BeiGene

Institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. increased its stake in shares of BeiGene by 156.3% in the third quarter. Blue Trust Inc. now owns 123 shares of the company’s stock worth $28,000 after buying an additional 75 shares during the last quarter. Truist Financial Corp increased its position in shares of BeiGene by 10.1% in the 2nd quarter. Truist Financial Corp now owns 1,521 shares of the company’s stock worth $217,000 after purchasing an additional 140 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of BeiGene in the 3rd quarter valued at about $36,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of BeiGene by 0.3% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 97,895 shares of the company’s stock worth $21,978,000 after purchasing an additional 266 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in BeiGene in the third quarter worth about $67,000. Institutional investors and hedge funds 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.