BeiGene (NASDAQ:BGNE) Shares Gap Down – Time to Sell?

Shares of BeiGene, Ltd. (NASDAQ:BGNE) gapped down before the market opened on Friday . The stock had previously closed at $193.29, but opened at $187.79. BeiGene shares last traded at $187.03, with a volume of 31,286 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. TD Cowen increased their price objective on BeiGene from $254.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday. StockNews.com raised shares of BeiGene from a “hold” rating to a “buy” rating in a research report on Wednesday. Citigroup raised their price target on shares of BeiGene from $269.00 to $288.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. upped their price objective on shares of BeiGene from $200.00 to $235.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Finally, JMP Securities started coverage on shares of BeiGene in a research note on Wednesday, September 18th. They set a “market outperform” rating and a $288.00 target price for the company. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $247.07.

BeiGene Price Performance

The company has a debt-to-equity ratio of 0.05, a current ratio of 1.93 and a quick ratio of 1.75. The stock has a market capitalization of $18.43 billion, a price-to-earnings ratio of -22.96 and a beta of 0.63. The stock’s 50 day simple moving average is $212.91 and its 200-day simple moving average is $182.03.

BeiGene (NASDAQ:BGNE) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.04). The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $983.26 million. BeiGene had a negative net margin of 25.94% and a negative return on equity of 25.12%. The firm’s revenue for the quarter was up 28.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.01 EPS. On average, analysts expect that BeiGene, Ltd. will post -5 EPS for the current fiscal year.

Insiders Place Their Bets

In other BeiGene news, SVP Chan Henry Lee sold 1,202 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $237.10, for a total transaction of $284,994.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO John Oyler sold 6,175 shares of the business’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $232.22, for a total transaction of $1,433,958.50. 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 quarter. Insiders own 7.43% of the company’s stock.

Institutional Investors Weigh In On BeiGene

Hedge funds have recently bought and sold shares of the company. Blue Trust Inc. lifted its position in shares of BeiGene by 156.3% during the 3rd quarter. Blue Trust Inc. now owns 123 shares of the company’s stock worth $28,000 after purchasing an additional 75 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in BeiGene in the 3rd quarter worth approximately $36,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of BeiGene during the third quarter worth approximately $67,000. SG Americas Securities LLC bought a new stake in shares of BeiGene in the third quarter valued at approximately $105,000. Finally, Acadian Asset Management LLC boosted its position in shares of 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 period. 48.55% of the stock is currently owned by institutional investors.

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.