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

Equities researchers at StockNews.com assumed coverage on shares of BeiGene (NASDAQ:BGNE) in a note issued to investors on Sunday. The firm set a “hold” rating on the stock.

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

BeiGene Stock Performance

The company has a market cap of $18.03 billion, a P/E ratio of -22.42 and a beta of 0.57. BeiGene has a 1-year low of $126.97 and a 1-year high of $248.16. The firm has a 50 day simple moving average of $194.32 and a 200-day simple moving average of $188.98. The company has a current ratio of 1.93, a quick ratio of 1.72 and a debt-to-equity ratio of 0.05.

BeiGene (NASDAQ:BGNE) last released its 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 firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $983.26 million. BeiGene had a negative return on equity of 25.12% and a negative net margin of 25.94%. BeiGene’s revenue was up 28.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.01 EPS. As a group, equities analysts forecast that BeiGene will post -5.64 EPS for the current year.

Insider Transactions at BeiGene

In related news, Director Bros. Advisors Lp Baker sold 1,037,017 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $187.27, for a total transaction of $194,202,173.59. Following the completion of the sale, the director now directly owns 791,493 shares in the company, valued at $148,222,894.11. This represents a 56.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Xiaodong Wang sold 40,468 shares of the firm’s stock in a transaction dated 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. In the last quarter, insiders sold 1,119,245 shares of company stock valued at $209,700,084. Company insiders own 7.43% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Blue Trust Inc. increased its position in shares of BeiGene by 156.3% during the third quarter. Blue Trust Inc. now owns 123 shares of the company’s stock worth $28,000 after purchasing an additional 75 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in BeiGene during the 3rd quarter worth $36,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in BeiGene during the 3rd quarter valued at about $67,000. SG Americas Securities LLC purchased a new stake in BeiGene in the third quarter valued at about $105,000. Finally, PFG Investments LLC acquired a new stake in BeiGene in the third quarter worth about $210,000. 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.