BeiGene (NASDAQ:BGNE) Stock Price Expected to Rise, TD Cowen Analyst Says

BeiGene (NASDAQ:BGNE) had its price objective upped by stock analysts at TD Cowen from $254.00 to $260.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s price objective would indicate a potential upside of 34.51% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on BGNE. Citigroup upped their target price on BeiGene from $269.00 to $288.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. JMP Securities started coverage on BeiGene in a research note on Wednesday, September 18th. They set a “market outperform” rating and a $288.00 target price for the company. Finally, JPMorgan Chase & Co. boosted their price target on shares of BeiGene from $200.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, BeiGene currently has a consensus rating of “Moderate Buy” and a consensus price target of $247.07.

BeiGene Trading Down 1.1 %

NASDAQ:BGNE opened at $193.29 on Wednesday. The stock has a market cap of $18.83 billion, a price-to-earnings ratio of -23.68 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 1 year low of $126.97 and a 1 year high of $248.16. The business has a fifty day moving average of $212.91 and a 200-day moving average of $181.72.

BeiGene (NASDAQ:BGNE) last announced its earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share (EPS) 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 25.15%. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $983.26 million. During the same quarter in the prior year, the company earned $2.01 EPS. The business’s quarterly revenue was up 28.2% on a year-over-year basis. Equities analysts predict that BeiGene will post -5 earnings per share for the current year.

Insider Activity

In related news, insider Titus B. Ball sold 137 shares of the company’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 document filed with the SEC, which can be accessed through this hyperlink. Also, COO Xiaobin Wu sold 5,556 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $189.65, for a total value of $1,053,695.40. The disclosure for this sale can be found here. Insiders sold a total of 23,070 shares of company stock valued at $4,901,050 over the last three months. Insiders own 7.43% of the company’s stock.

Institutional Trading of BeiGene

A number of hedge funds have recently made changes to their positions in BGNE. Point72 Asia Singapore Pte. Ltd. acquired a new position in BeiGene in the 3rd quarter valued at approximately $67,000. Erste Asset Management GmbH purchased a new position in shares of BeiGene during the 3rd quarter valued at $4,478,000. Bellevue Group AG increased its stake in shares of BeiGene by 129.2% in the third quarter. Bellevue Group AG now owns 58,729 shares of the company’s stock worth $13,185,000 after acquiring an additional 33,100 shares during the last quarter. Portland Investment Counsel Inc. raised its holdings in shares of BeiGene by 50.0% during the third quarter. Portland Investment Counsel Inc. now owns 3,000 shares of the company’s stock worth $674,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new stake in BeiGene during the third quarter valued at $281,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

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.