BeiGene (NASDAQ:BGNE) Price Target Increased to $235.00 by Analysts at JPMorgan Chase & Co.

BeiGene (NASDAQ:BGNE) had its price target boosted by JPMorgan Chase & Co. from $200.00 to $235.00 in a research note published on Tuesday, Benzinga reports. The firm currently has an overweight rating on the stock.

Other equities analysts have also issued reports about the company. JMP Securities started coverage on BeiGene in a research note on Wednesday, September 18th. They set a “market outperform” rating and a $288.00 price target for the company. Citigroup increased their price target on BeiGene from $269.00 to $288.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Finally, Bank of America decreased their price objective on BeiGene from $180.00 to $152.50 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, BeiGene currently has a consensus rating of “Moderate Buy” and a consensus price target of $246.21.

BeiGene Stock Performance

Shares of BGNE opened at $220.63 on Tuesday. The company has a quick ratio of 1.75, a current ratio of 1.98 and a debt-to-equity ratio of 0.06. The business has a 50-day simple moving average of $208.63 and a two-hundred day simple moving average of $174.58. The stock has a market cap of $21.38 billion, a price-to-earnings ratio of -29.15 and a beta of 0.62. BeiGene has a 52 week low of $126.97 and a 52 week high of $248.16.

BeiGene (NASDAQ:BGNE) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($1.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.27) by $1.12. The firm had revenue of $929.20 million during the quarter, compared to analyst estimates of $810.34 million. BeiGene had a negative return on equity of 14.93% and a negative net margin of 16.91%. The business’s quarterly revenue was up 56.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($3.64) earnings per share. On average, analysts expect that BeiGene will post -5.07 EPS for the current year.

Insider Transactions at BeiGene

In other news, SVP Chan Henry Lee sold 834 shares of the stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $160.57, for a total value of $133,915.38. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other BeiGene news, insider Titus B. Ball sold 137 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $189.94, for a total transaction of $26,021.78. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Chan Henry Lee sold 834 shares of the stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $160.57, for a total value of $133,915.38. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,904 shares of company stock worth $5,034,965. 7.43% of the stock is currently owned by company insiders.

Institutional Trading of BeiGene

Institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC acquired a new stake in BeiGene during the 3rd quarter worth about $36,000. Blue Trust Inc. lifted its holdings 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 during the period. SG Americas Securities LLC acquired a new position in BeiGene in the 3rd quarter worth about $105,000. Sanctuary Advisors LLC acquired a new position in BeiGene in the 2nd quarter worth about $1,038,000. Finally, Truist Financial Corp raised its holdings 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 during the period. Institutional investors and hedge funds 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.