Leerink Partnrs Has Bullish Estimate for BeiGene Q3 Earnings

BeiGene, Ltd. (NASDAQ:BGNE) – Stock analysts at Leerink Partnrs raised their Q3 2024 EPS estimates for shares of BeiGene in a report issued on Monday, October 28th. Leerink Partnrs analyst A. Berens now forecasts that the company will earn ($1.12) per share for the quarter, up from their previous estimate of ($1.23). The consensus estimate for BeiGene’s current full-year earnings is ($5.07) per share. Leerink Partnrs also issued estimates for BeiGene’s Q4 2024 earnings at ($1.02) EPS, FY2024 earnings at ($5.69) EPS, FY2025 earnings at $0.79 EPS, FY2026 earnings at $8.34 EPS and FY2027 earnings at $13.86 EPS.

A number of other analysts have also issued reports on BGNE. JPMorgan Chase & Co. increased their price target on shares of BeiGene from $200.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Citigroup boosted their price objective on shares of BeiGene from $269.00 to $288.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Bank of America lowered their price objective on shares of BeiGene from $180.00 to $152.50 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Finally, JMP Securities began coverage on shares of BeiGene in a research report on Wednesday, September 18th. They set a “market outperform” rating and a $288.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $246.21.

BeiGene Stock Down 4.9 %

Shares of BeiGene stock opened at $205.99 on Wednesday. The company has a current ratio of 1.98, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06. BeiGene has a 1 year low of $126.97 and a 1 year high of $248.16. The stock has a 50-day moving average price of $211.09 and a 200 day moving average price of $176.98. The company has a market cap of $19.96 billion, a P/E ratio of -27.21 and a beta of 0.62.

BeiGene (NASDAQ:BGNE) last released its earnings results on Wednesday, August 7th. The company reported ($1.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.27) by $1.12. BeiGene had a negative return on equity of 14.93% and a negative net margin of 16.91%. 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 prior year, the company earned ($3.64) earnings per share. The company’s revenue for the quarter was up 56.1% on a year-over-year basis.

Hedge Funds Weigh In On BeiGene

Large investors have recently bought and sold shares of the stock. Blue Trust Inc. raised its stake in shares of BeiGene by 156.3% in the 3rd quarter. Blue Trust Inc. now owns 123 shares of the company’s stock valued at $28,000 after buying an additional 75 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of BeiGene in the 3rd quarter valued at $36,000. Headlands Technologies LLC acquired a new position in shares of BeiGene in the 1st quarter valued at $50,000. SG Americas Securities LLC acquired a new position in shares of BeiGene in the 3rd quarter valued at $105,000. Finally, Acadian Asset Management LLC raised its stake in shares of BeiGene by 204.1% in the 1st quarter. Acadian Asset Management LLC now owns 1,265 shares of the company’s stock valued at $197,000 after buying an additional 849 shares in the last quarter. 48.55% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other BeiGene news, CEO John Oyler sold 6,175 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $232.22, for a total value of $1,433,958.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO John Oyler sold 6,175 shares of the business’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $232.22, for a total value of $1,433,958.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Xiaobin Wu sold 5,556 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $189.65, for a total transaction of $1,053,695.40. The disclosure for this sale can be found here. Insiders sold 23,070 shares of company stock valued at $4,901,050 over the last ninety days. Corporate insiders own 7.43% 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.