BeiGene (NASDAQ:BGNE) Shares Gap Up – Time to Buy?

BeiGene, Ltd. (NASDAQ:BGNE) shares gapped up before the market opened on Wednesday . The stock had previously closed at $235.43, but opened at $241.10. BeiGene shares last traded at $241.66, with a volume of 109,769 shares changing hands.

Analyst Upgrades and Downgrades

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

BeiGene Trading Up 3.0 %

The stock has a market cap of $23.50 billion, a PE ratio of -31.10 and a beta of 0.62. The company’s fifty day moving average is $198.42 and its 200-day moving average is $169.51. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.98 and a quick ratio of 1.75.

BeiGene (NASDAQ:BGNE) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($1.15) EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $929.20 million for the quarter, compared to analysts’ expectations of $810.34 million. During the same quarter last year, the company earned ($3.64) EPS. The business’s revenue was up 56.1% on a year-over-year basis. On average, analysts predict that BeiGene, Ltd. will post -5.13 earnings per share for the current fiscal year.

Insider Transactions at BeiGene

In related news, SVP Chan Henry Lee sold 1,202 shares of BeiGene stock in a transaction on Monday, September 30th. The shares were sold at an average price of $237.10, for a total value of $284,994.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Lai Wang sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $220.35, for a total value of $1,101,750.00. Following the transaction, the insider now owns 920,920 shares in the company, valued at $202,924,722. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Chan Henry Lee sold 1,202 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $237.10, for a total value of $284,994.20. The disclosure for this sale can be found here. Insiders have sold a total of 17,729 shares of company stock valued at $3,601,007 in the last ninety days. 7.43% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in shares of BeiGene in the third quarter worth about $105,000. Sanctuary Advisors LLC acquired a new stake in BeiGene in the 2nd quarter valued at about $1,038,000. Truist Financial Corp lifted its stake in BeiGene by 10.1% in the 2nd quarter. Truist Financial Corp now owns 1,521 shares of the company’s stock worth $217,000 after purchasing an additional 140 shares in the last quarter. Driehaus Capital Management LLC acquired a new position in shares of BeiGene during the 2nd quarter worth approximately $1,168,000. Finally, The Manufacturers Life Insurance Company grew its position in shares of BeiGene by 8.4% in the second quarter. The Manufacturers Life Insurance Company now owns 50,262 shares of the company’s stock valued at $7,171,000 after purchasing an additional 3,915 shares in the last quarter. Hedge funds and other 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.