StockNews.com Downgrades BeiGene (NASDAQ:BGNE) to Hold

BeiGene (NASDAQ:BGNE) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Thursday.

Several other analysts have also recently issued reports on BGNE. Citigroup increased their price target on shares of BeiGene from $269.00 to $288.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. raised their price target on shares of BeiGene from $200.00 to $235.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. JMP Securities began coverage on BeiGene in a research report on Wednesday, September 18th. They set a “market outperform” rating and a $288.00 price objective on the stock. Finally, TD Cowen lifted their target price on BeiGene from $254.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $247.07.

BeiGene Stock Performance

NASDAQ:BGNE opened at $194.26 on Thursday. The company’s 50-day moving average is $212.60 and its two-hundred day moving average is $182.77. The firm has a market capitalization of $18.92 billion, a price-to-earnings ratio of -23.58 and a beta of 0.63. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.93 and a quick ratio of 1.72. BeiGene has a 1-year low of $126.97 and a 1-year high of $248.16.

BeiGene (NASDAQ:BGNE) last announced 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). BeiGene had a negative net margin of 25.94% and a negative return on equity of 25.12%. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $983.26 million. During the same quarter in the prior year, the business earned $2.01 earnings per share. BeiGene’s revenue was up 28.2% on a year-over-year basis. Analysts forecast that BeiGene will post -5.57 EPS for the current year.

Insider Activity

In related news, CEO John Oyler sold 6,175 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $232.22, for a total transaction of $1,433,958.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Titus B. Ball sold 137 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $189.94, for a total value of $26,021.78. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,070 shares of company stock valued at $4,901,050. 7.43% of the stock is currently owned by company insiders.

Institutional Trading of BeiGene

Hedge funds have recently made changes to their positions in the company. Point72 Asset Management L.P. purchased a new position in BeiGene in the second quarter worth $54,412,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of BeiGene by 160.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 225,854 shares of the company’s stock worth $50,706,000 after buying an additional 138,978 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of BeiGene by 6.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,026,094 shares of the company’s stock worth $316,862,000 after buying an additional 117,905 shares in the last quarter. Bellevue Group AG grew its position in shares of BeiGene by 129.2% in the third quarter. Bellevue Group AG now owns 58,729 shares of the company’s stock valued at $13,185,000 after purchasing an additional 33,100 shares during the last quarter. Finally, XY Capital Ltd acquired a new stake in BeiGene during the 3rd quarter valued at $6,839,000. Institutional investors and hedge funds 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.