Lai Wang Sells 5,000 Shares of BeiGene, Ltd. (NASDAQ:BGNE) Stock

BeiGene, Ltd. (NASDAQ:BGNE) insider Lai Wang sold 5,000 shares of BeiGene stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $220.35, for a total value of $1,101,750.00. Following the completion of the transaction, the insider now owns 920,920 shares of the company’s stock, valued at approximately $202,924,722. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

BeiGene Trading Up 2.9 %

NASDAQ BGNE traded up $6.47 during trading hours on Tuesday, reaching $230.98. The company had a trading volume of 333,145 shares, compared to its average volume of 250,874. 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 stock has a market capitalization of $22.38 billion, a P/E ratio of -29.73 and a beta of 0.61. The stock has a 50-day moving average of $189.26 and a 200 day moving average of $166.47. BeiGene, Ltd. has a 1-year low of $126.97 and a 1-year high of $237.10.

BeiGene (NASDAQ:BGNE) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($1.15) EPS for the quarter, topping 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 firm had revenue of $929.20 million for the quarter, compared to analyst estimates of $810.34 million. During the same period in the prior year, the business posted ($3.64) EPS. The business’s revenue for the quarter was up 56.1% compared to the same quarter last year. As a group, research analysts anticipate that BeiGene, Ltd. will post -5.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BeiGene

Several hedge funds have recently bought and sold shares of the company. Swedbank AB purchased a new position in shares of BeiGene in the first quarter valued at approximately $2,596,000. AIA Group Ltd grew its stake in shares of BeiGene by 38.9% in the first quarter. AIA Group Ltd now owns 18,497 shares of the company’s stock worth $2,893,000 after acquiring an additional 5,181 shares in the last quarter. M&G Plc purchased a new stake in shares of BeiGene during the first quarter worth $29,649,000. Driehaus Capital Management LLC acquired a new stake in shares of BeiGene in the second quarter valued at $1,168,000. Finally, Van ECK Associates Corp boosted its holdings in BeiGene by 8.9% in the second quarter. Van ECK Associates Corp now owns 95,577 shares of the company’s stock valued at $13,636,000 after purchasing an additional 7,816 shares during the period. Institutional investors and hedge funds own 48.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BGNE. JPMorgan Chase & Co. lifted their price target on BeiGene from $194.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Bank of America reduced their target price on shares of BeiGene from $180.00 to $152.50 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. JMP Securities initiated coverage on shares of BeiGene in a report on Wednesday, September 18th. They issued a “market outperform” rating and a $288.00 price objective for the company. Finally, Citigroup boosted their target price on BeiGene from $269.00 to $288.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $241.21.

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.