BeiGene, Ltd. (NASDAQ:BGNE) Given Consensus Recommendation of “Moderate Buy” by Brokerages

BeiGene, Ltd. (NASDAQ:BGNE) has received an average rating of “Moderate Buy” from the seven research firms that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $246.21.

Several brokerages recently weighed in on BGNE. Citigroup raised their target price on BeiGene from $269.00 to $288.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. JMP Securities began coverage on BeiGene in a report on Wednesday, September 18th. They issued a “market outperform” rating and a $288.00 target price on the stock. JPMorgan Chase & Co. lifted their price objective on BeiGene from $200.00 to $235.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Finally, Bank of America lowered their target price on BeiGene from $180.00 to $152.50 and set a “neutral” rating for the company in a research note on Tuesday, July 9th.

BeiGene Price Performance

Shares of NASDAQ BGNE opened at $207.25 on Tuesday. The firm has a market capitalization of $20.17 billion, a P/E ratio of -40.80 and a beta of 0.63. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.98. BeiGene has a one year low of $126.97 and a one year high of $248.16. The company’s fifty day moving average is $211.76 and its two-hundred day moving average is $178.98.

BeiGene (NASDAQ:BGNE) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($1.15) EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $810.34 million. During the same quarter in the previous year, the business earned ($3.64) EPS. The firm’s revenue was up 56.1% on a year-over-year basis. Analysts forecast that BeiGene will post -5 EPS for the current fiscal year.

Insider Buying and Selling at BeiGene

In related 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 transaction of $1,433,958.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Chan Henry Lee sold 1,202 shares of the company’s stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John Oyler sold 6,175 shares of the company’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 disclosure for this sale can be found here. In the last ninety days, insiders sold 23,070 shares of company stock worth $4,901,050. 7.43% of the stock is 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 BGNE. Driehaus Capital Management LLC acquired a new position in shares of BeiGene during the second quarter worth about $1,168,000. Swedbank AB acquired a new position in BeiGene in the first quarter valued at approximately $2,596,000. AIA Group Ltd boosted its holdings in BeiGene by 38.9% in the first quarter. AIA Group Ltd now owns 18,497 shares of the company’s stock valued at $2,893,000 after purchasing an additional 5,181 shares in the last quarter. M&G Plc acquired a new position in BeiGene in the first quarter valued at approximately $29,649,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in 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.

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.