BeiGene (NASDAQ:BGNE) Shares Gap Up to $130.94

Shares of BeiGene, Ltd. (NASDAQ:BGNE) gapped up before the market opened on Tuesday . The stock had previously closed at $130.94, but opened at $135.75. BeiGene shares last traded at $141.07, with a volume of 36,287 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of BeiGene from $184.00 to $186.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Guggenheim cut their price objective on shares of BeiGene from $350.00 to $345.00 and set a “buy” rating for the company in a research report on Tuesday, February 27th. Sanford C. Bernstein dropped their target price on shares of BeiGene from $196.00 to $161.00 and set a “market perform” rating for the company in a report on Wednesday, March 27th. Finally, Bank of America dropped their target price on shares of BeiGene from $179.30 to $164.30 and set a “neutral” rating for the company in a report on Monday, April 8th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, BeiGene currently has an average rating of “Moderate Buy” and a consensus target price of $251.70.

BeiGene Price Performance

The firm has a market cap of $13.28 billion, a PE ratio of -16.60 and a beta of 0.61. The firm has a fifty day simple moving average of $154.77 and a two-hundred day simple moving average of $167.94. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.09 and a current ratio of 2.32.

BeiGene (NASDAQ:BGNE) last released its quarterly earnings results on Monday, February 26th. The company reported ($3.53) earnings per share for the quarter, beating the consensus estimate of ($3.61) by $0.08. The business had revenue of $634.40 million during the quarter, compared to analysts’ expectations of $632.52 million. BeiGene had a negative return on equity of 23.12% and a negative net margin of 35.86%. The firm’s revenue for the quarter was up 66.9% compared to the same quarter last year. During the same quarter last year, the business posted ($4.29) EPS. Equities analysts predict that BeiGene, Ltd. will post -8.87 EPS for the current fiscal year.

Insider Buying and Selling at BeiGene

In other BeiGene news, CEO John Oyler sold 26,716 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $148.89, for a total transaction of $3,977,745.24. Following the completion of the transaction, the chief executive officer now owns 12,084 shares in the company, valued at approximately $1,799,186.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other BeiGene news, CEO John Oyler sold 26,716 shares of BeiGene stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $148.89, for a total transaction of $3,977,745.24. Following the completion of the sale, the chief executive officer now directly owns 12,084 shares of the company’s stock, valued at approximately $1,799,186.76. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Julia Aijun Wang sold 397 shares of BeiGene stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $167.08, for a total value of $66,330.76. The disclosure for this sale can be found here. Insiders sold 64,781 shares of company stock worth $10,222,381 in the last quarter. 7.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Toronto Dominion Bank grew its stake in BeiGene by 166.4% during the 3rd quarter. Toronto Dominion Bank now owns 333 shares of the company’s stock worth $60,000 after buying an additional 208 shares during the last quarter. Knights of Columbus Asset Advisors LLC grew its stake in BeiGene by 20.5% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 447 shares of the company’s stock worth $80,000 after buying an additional 76 shares during the last quarter. Benjamin F. Edwards & Company Inc. purchased a new stake in BeiGene during the 4th quarter valued at about $98,000. PNC Financial Services Group Inc. grew its stake in BeiGene by 123.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 732 shares of the company’s stock valued at $132,000 after purchasing an additional 405 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in BeiGene during the 4th quarter valued at about $183,000. 48.55% of the stock is currently owned by hedge funds and other 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.