BeiGene (NASDAQ:BGNE) Shares Gap Up to $198.59

BeiGene, Ltd. (NASDAQ:BGNE) gapped up prior to trading on Friday . The stock had previously closed at $198.59, but opened at $205.67. BeiGene shares last traded at $205.86, with a volume of 17,652 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BGNE shares. Bank of America cut their price target on BeiGene from $180.00 to $152.50 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. JPMorgan Chase & Co. upped their target price on shares of BeiGene from $194.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. JMP Securities started coverage on shares of BeiGene in a research report on Wednesday. They set a “market outperform” rating and a $288.00 price target for the company. Finally, Citigroup boosted their price target on shares of BeiGene from $269.00 to $288.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, BeiGene has a consensus rating of “Moderate Buy” and a consensus target price of $241.21.

BeiGene Stock Up 3.4 %

The company has a current ratio of 1.98, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06. The firm has a market cap of $19.90 billion, a P/E ratio of -26.23 and a beta of 0.61. The firm’s 50 day moving average is $181.25 and its two-hundred day moving average is $164.21.

BeiGene (NASDAQ:BGNE) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($1.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.27) by $1.12. BeiGene had a negative net margin of 16.91% and a negative return on equity of 14.93%. The company had revenue of $929.20 million during the quarter, compared to analyst estimates of $810.34 million. During the same quarter in the previous year, the business earned ($3.64) EPS. The firm’s revenue was up 56.1% on a year-over-year basis. As a group, research analysts anticipate that BeiGene, Ltd. will post -5.13 EPS for the current fiscal year.

Insider Activity at BeiGene

In other news, CEO John Oyler sold 2,789 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $159.58, for a total value of $445,068.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other BeiGene news, SVP Chan Henry Lee sold 834 shares of the business’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 legal filing with the SEC, which is available at this hyperlink. Also, CEO John Oyler sold 2,789 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $159.58, for a total transaction of $445,068.62. The disclosure for this sale can be found here. In the last three months, insiders sold 18,210 shares of company stock worth $3,270,351. 7.43% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Headlands Technologies LLC acquired a new position in shares of BeiGene during the 1st quarter worth approximately $50,000. Benjamin F. Edwards & Company Inc. raised its position in BeiGene by 51.5% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 821 shares of the company’s stock worth $128,000 after acquiring an additional 279 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in BeiGene during the fourth quarter worth $183,000. Acadian Asset Management LLC lifted its stake in BeiGene by 204.1% in the first quarter. Acadian Asset Management LLC now owns 1,265 shares of the company’s stock valued at $197,000 after acquiring an additional 849 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. bought a new position in shares of BeiGene in the 1st quarter valued at about $209,000. Institutional investors 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.