BeiGene (NASDAQ:BGNE) Shares Up 3.8%

BeiGene, Ltd. (NASDAQ:BGNE) shares shot up 3.8% on Thursday . The company traded as high as $318.17 and last traded at $318.17. 4,117 shares changed hands during trading, a decline of 98% from the average session volume of 197,917 shares. The stock had previously closed at $306.62.

A number of research firms recently weighed in on BGNE. Zacks Investment Research raised shares of BeiGene from a “sell” rating to a “hold” rating in a research note on Tuesday, May 11th. Morgan Stanley upped their target price on shares of BeiGene from $357.00 to $409.00 and gave the company an “overweight” rating in a research note on Thursday, June 3rd. Finally, SVB Leerink upped their target price on shares of BeiGene from $388.00 to $417.00 and gave the company an “outperform” rating in a research note on Monday, June 14th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. BeiGene has a consensus rating of “Hold” and an average price target of $342.63.

The company has a market cap of $29.60 billion, a P/E ratio of -23.51 and a beta of 0.86. The company has a current ratio of 4.62, a quick ratio of 4.56 and a debt-to-equity ratio of 0.05. The company’s fifty day moving average is $338.63.

BeiGene (NASDAQ:BGNE) last announced its quarterly earnings results on Friday, May 7th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of ($1.90) by $2.59. The firm had revenue of $605.87 million during the quarter, compared to analysts’ expectations of $103.90 million. BeiGene had a negative net margin of 135.24% and a negative return on equity of 31.71%. Equities analysts predict that BeiGene, Ltd. will post -10.64 EPS for the current year.

In other news, CMO Jane Huang sold 540 shares of the stock in a transaction dated Tuesday, June 1st. The shares were sold at an average price of $362.64, for a total value of $195,825.60. Following the transaction, the chief marketing officer now directly owns 292,772 shares of the company’s stock, valued at $106,170,838.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Howard Liang sold 650 shares of the stock in a transaction dated Monday, June 7th. The shares were sold at an average price of $354.16, for a total transaction of $230,204.00. Following the completion of the transaction, the chief financial officer now directly owns 1,565,265 shares in the company, valued at $554,354,252.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,965 shares of company stock valued at $18,779,916. Corporate insiders own 8.90% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Capital International Investors increased its position in BeiGene by 8.0% during the first quarter. Capital International Investors now owns 5,797,151 shares of the company’s stock worth $2,013,664,000 after acquiring an additional 428,521 shares during the period. Baillie Gifford & Co. increased its position in BeiGene by 4.3% during the first quarter. Baillie Gifford & Co. now owns 4,428,715 shares of the company’s stock worth $1,541,548,000 after acquiring an additional 180,888 shares during the period. Primecap Management Co. CA increased its position in BeiGene by 15.5% during the first quarter. Primecap Management Co. CA now owns 3,888,839 shares of the company’s stock worth $1,353,627,000 after acquiring an additional 522,112 shares during the period. BlackRock Inc. increased its position in BeiGene by 0.9% during the first quarter. BlackRock Inc. now owns 2,609,596 shares of the company’s stock worth $908,347,000 after acquiring an additional 22,431 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in BeiGene by 6.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 837,378 shares of the company’s stock worth $216,370,000 after buying an additional 50,960 shares in the last quarter. 61.28% of the stock is currently owned by institutional investors and hedge funds.

About BeiGene (NASDAQ:BGNE)

BeiGene, Ltd. discovers, develops, manufactures, and commercializes medicines for cancer therapeutics in the People's Republic of China and the United States. Its products include BRUKINSA to treat relapsed/refractory (R/R) mantle cell lymphoma; Tislelizumab to treat R/R classical Hodgkin's lymphoma; ABRAXANE to treat breast cancer; REVLIMID to treat multiple myeloma; VIDAZA to treat myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia; XGEVA to treat giant cell tumor of bone; BLINCYTO to treat acute lymphoblastic leukemia; KYPROLIS to treat R/R multiple myeloma; SYLVANT to treat idiopathic multicentric castleman disease; QARZIBA to treat neuroblastoma; Pamiparib for the treatment of various solid tumors; and BAT1706 to treat metastatic colorectal cancer, liver cancer, and non-small cell lung cancer (NSCLC).

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