Leerink Partnrs Cuts Earnings Estimates for BeiGene

BeiGene, Ltd. (NASDAQ:BGNE) – Investment analysts at Leerink Partnrs decreased their FY2024 earnings per share estimates for BeiGene in a report issued on Tuesday, November 12th. Leerink Partnrs analyst A. Berens now forecasts that the company will earn ($5.98) per share for the year, down from their previous estimate of ($5.69). The consensus estimate for BeiGene’s current full-year earnings is ($5.00) per share. Leerink Partnrs also issued estimates for BeiGene’s Q4 2024 earnings at ($1.30) EPS.

BeiGene (NASDAQ:BGNE) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.11) by ($0.04). The company had revenue of $1 billion for the quarter, compared to analyst estimates of $983.26 million. BeiGene had a negative return on equity of 25.12% and a negative net margin of 25.94%. The firm’s quarterly revenue was up 28.2% on a year-over-year basis. During the same quarter last year, the company earned $2.01 EPS.

Several other research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective 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. Citigroup upped 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. StockNews.com upgraded BeiGene from a “hold” rating to a “buy” rating in a report on Wednesday. JMP Securities began coverage on BeiGene in a report on Wednesday, September 18th. They set a “market outperform” rating and a $288.00 price objective for the company. Finally, TD Cowen raised their target price on shares of BeiGene from $254.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $247.07.

BeiGene Price Performance

Shares of BGNE stock opened at $189.23 on Friday. BeiGene has a 1 year low of $126.97 and a 1 year high of $248.16. The company has a current ratio of 1.93, a quick ratio of 1.75 and a debt-to-equity ratio of 0.05. The firm’s 50 day moving average is $212.95 and its 200-day moving average is $181.80. The firm has a market capitalization of $18.43 billion, a price-to-earnings ratio of -22.96 and a beta of 0.63.

Insiders Place Their Bets

In other BeiGene news, CEO John Oyler sold 6,175 shares of BeiGene stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $232.22, for a total value of $1,433,958.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Chan Henry Lee sold 1,202 shares of the stock in a transaction dated 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. Over the last ninety days, insiders have sold 23,070 shares of company stock worth $4,901,050. Corporate insiders own 7.43% of the company’s stock.

Institutional Trading of BeiGene

A number of hedge funds and other institutional investors have recently made changes to their positions in BGNE. Blue Trust Inc. grew its stake in BeiGene by 156.3% in the third quarter. Blue Trust Inc. now owns 123 shares of the company’s stock valued at $28,000 after purchasing an additional 75 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of BeiGene in the 3rd quarter valued at approximately $36,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of BeiGene in the third quarter valued at $67,000. Headlands Technologies LLC acquired a new position in BeiGene during the first quarter worth $50,000. Finally, SG Americas Securities LLC bought a new stake in BeiGene during the third quarter worth $105,000. 48.55% of the stock is currently owned by institutional investors and hedge funds.

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.