BeiGene (NASDAQ:BGNE) Shares Down 3.7%

BeiGene, Ltd. (NASDAQ:BGNE) shares dropped 3.7% during mid-day trading on Tuesday . The stock traded as low as $151.64 and last traded at $153.24. Approximately 60,680 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 229,469 shares. The stock had previously closed at $159.15.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Bank of America dropped their target price on shares of BeiGene from $179.30 to $164.30 and set a “neutral” rating on the stock in a research report on Monday, April 8th. Sanford C. Bernstein dropped their target price on shares of BeiGene from $196.00 to $161.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 27th. JPMorgan Chase & Co. lifted their target price on shares of BeiGene from $184.00 to $186.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Finally, TD Cowen lifted their target price on shares of BeiGene from $236.00 to $254.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, BeiGene presently has an average rating of “Moderate Buy” and an average price target of $251.93.

BeiGene Stock Performance

The company has a debt-to-equity ratio of 0.06, a current ratio of 2.08 and a quick ratio of 1.84. The firm has a market capitalization of $14.03 billion, a price-to-earnings ratio of -19.34 and a beta of 0.60. The firm’s fifty day moving average is $156.39 and its 200 day moving average is $160.19.

BeiGene (NASDAQ:BGNE) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($2.41) EPS for the quarter, topping the consensus estimate of ($3.07) by $0.66. The business had revenue of $751.70 million during the quarter, compared to analysts’ expectations of $670.09 million. BeiGene had a negative net margin of 28.39% and a negative return on equity of 21.70%. The firm’s quarterly revenue was up 67.9% compared to the same quarter last year. During the same period last year, the company posted ($3.34) earnings per share. On average, analysts predict that BeiGene, Ltd. will post -8.2 EPS for the current fiscal year.

Insider Buying and Selling at BeiGene

In other BeiGene news, CEO John Oyler sold 2,789 shares of BeiGene stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $159.58, for a total value of $445,068.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other BeiGene news, CEO John Oyler sold 2,789 shares of BeiGene stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $159.58, for a total value of $445,068.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lai Wang sold 1,064 shares of BeiGene stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $159.80, for a total transaction of $170,027.20. The disclosure for this sale can be found here. Insiders sold 32,927 shares of company stock worth $4,965,913 over the last ninety days. 7.43% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BeiGene

Institutional investors have recently modified their holdings of the company. Headlands Technologies LLC bought a new position in shares of BeiGene in the first quarter valued at approximately $50,000. Toronto Dominion Bank raised its position in shares of BeiGene by 166.4% in the third quarter. Toronto Dominion Bank now owns 333 shares of the company’s stock valued at $60,000 after purchasing an additional 208 shares during the period. Benjamin F. Edwards & Company Inc. bought a new position in shares of BeiGene in the fourth quarter valued at approximately $98,000. PNC Financial Services Group Inc. raised its position in shares of BeiGene by 123.9% in the third quarter. PNC Financial Services Group Inc. now owns 732 shares of the company’s stock valued at $132,000 after purchasing an additional 405 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of BeiGene in the fourth quarter valued at approximately $183,000. Institutional investors own 48.55% of the company’s stock.

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.