BeiGene (NASDAQ:BGNE) Price Target Raised to $236.00 at TD Cowen

BeiGene (NASDAQ:BGNE) had its price objective upped by TD Cowen from $235.00 to $236.00 in a report issued on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts also recently issued reports on the company. Sanford C. Bernstein cut their price objective on BeiGene from $196.00 to $161.00 and set a market perform rating for the company in a research note on Wednesday, March 27th. Guggenheim cut their price objective on BeiGene from $350.00 to $345.00 and set a buy rating for the company in a research note on Tuesday, February 27th. Bank of America cut their price objective on BeiGene from $179.30 to $164.30 and set a neutral rating for the company in a research note on Monday, April 8th. Finally, JPMorgan Chase & Co. boosted their price objective on BeiGene from $184.00 to $186.00 and gave the company an overweight rating in a research note on Tuesday, March 19th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, BeiGene presently has an average rating of Moderate Buy and an average price target of $250.13.

BeiGene Trading Up 3.7 %

BeiGene stock opened at $144.12 on Wednesday. The business has a 50-day simple moving average of $154.68 and a two-hundred day simple moving average of $167.53. The company has a market cap of $13.78 billion, a P/E ratio of -16.96 and a beta of 0.61. BeiGene has a 52-week low of $126.97 and a 52-week high of $266.67. The company has a quick ratio of 2.09, a current ratio of 2.32 and a debt-to-equity ratio of 0.06.

BeiGene (NASDAQ:BGNE) last announced its quarterly earnings data on Monday, February 26th. The company reported ($3.53) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.61) by $0.08. The company had revenue of $634.40 million during the quarter, compared to the consensus estimate 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 was up 66.9% on a year-over-year basis. During the same period in the previous year, the company posted ($4.29) EPS. Analysts predict that BeiGene will post -8.87 EPS for the current year.

Insider Activity

In other news, CFO Julia Aijun Wang sold 397 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $167.08, for a total transaction of $66,330.76. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Julia Aijun Wang sold 397 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $167.08, for a total transaction of $66,330.76. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO John Oyler sold 26,716 shares of the company’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $148.89, for a total value of $3,977,745.24. Following the completion of the transaction, the chief executive officer now directly owns 12,084 shares in the company, valued at approximately $1,799,186.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 64,781 shares of company stock valued at $10,222,381. 7.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BeiGene

Hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP grew its position in BeiGene by 57.4% in the 3rd quarter. Wellington Management Group LLP now owns 55,478 shares of the company’s stock valued at $9,979,000 after acquiring an additional 20,239 shares during the last quarter. XY Capital Ltd grew its position in BeiGene by 1,205.3% in the 3rd quarter. XY Capital Ltd now owns 15,416 shares of the company’s stock valued at $2,773,000 after acquiring an additional 14,235 shares during the last quarter. FMR LLC grew its position in BeiGene by 3.0% in the 3rd quarter. FMR LLC now owns 2,352,730 shares of the company’s stock valued at $423,186,000 after acquiring an additional 69,297 shares during the last quarter. Envestnet Asset Management Inc. grew its position in BeiGene by 53.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 46,682 shares of the company’s stock valued at $8,397,000 after acquiring an additional 16,295 shares during the last quarter. Finally, TD Asset Management Inc grew its position in BeiGene by 91.9% in the 3rd quarter. TD Asset Management Inc now owns 100,256 shares of the company’s stock valued at $18,033,000 after acquiring an additional 48,018 shares during the last quarter. Institutional investors own 48.55% of the company’s stock.

About BeiGene

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.