BeiGene (NASDAQ:BGNE) Coverage Initiated by Analysts at StockNews.com

Equities research analysts at StockNews.com initiated coverage on shares of BeiGene (NASDAQ:BGNE) in a research note issued to investors on Saturday. The brokerage set a “hold” rating on the stock.

Several other analysts also recently commented on the stock. JMP Securities started coverage on BeiGene in a research report on Wednesday, September 18th. They issued a “market outperform” rating and a $288.00 price objective on the stock. TD Cowen increased their target price on shares of BeiGene from $254.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Morgan Stanley reiterated an “overweight” rating and issued a $300.00 price objective on shares of BeiGene in a research note on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. raised their target price on BeiGene from $200.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, BeiGene has a consensus rating of “Moderate Buy” and an average price target of $253.69.

BeiGene Stock Performance

BeiGene has a 52-week low of $126.97 and a 52-week high of $248.16. The firm’s fifty day moving average price is $194.32 and its 200 day moving average price is $188.98. The firm has a market cap of $18.03 billion, a P/E ratio of -22.42 and a beta of 0.57. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.93 and a quick ratio of 1.72.

BeiGene (NASDAQ:BGNE) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($1.15) earnings per share 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 net margin of 25.94% and a negative return on equity of 25.12%. BeiGene’s revenue for the quarter was up 28.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.01 EPS. Research analysts predict that BeiGene will post -5.64 EPS for the current year.

Insider Buying and Selling at BeiGene

In other news, Director Bros. Advisors Lp Baker sold 1,037,017 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $187.27, for a total value of $194,202,173.59. Following the completion of the transaction, the director now owns 791,493 shares of the company’s stock, valued at approximately $148,222,894.11. This represents a 56.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Xiaodong Wang sold 40,468 shares of BeiGene stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $190.10, for a total value of $7,692,966.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,119,245 shares of company stock worth $209,700,084. 7.43% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Driehaus Capital Management LLC purchased a new position in BeiGene in the 2nd quarter worth about $1,168,000. 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 worth $7,171,000 after purchasing an additional 3,915 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in BeiGene by 160.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 225,854 shares of the company’s stock worth $50,706,000 after purchasing an additional 138,978 shares during the period. Point72 Asset Management L.P. purchased a new stake in BeiGene during the 2nd quarter valued at $54,412,000. Finally, Affinity Asset Advisors LLC boosted its stake in shares of BeiGene by 33.9% in the 2nd quarter. Affinity Asset Advisors LLC now owns 110,000 shares of the company’s stock worth $15,694,000 after buying an additional 27,857 shares during 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.