BeiGene (NASDAQ:BGNE) Shares Gap Down After Insider Selling

BeiGene, Ltd. (NASDAQ:BGNE)’s stock price gapped down prior to trading on Thursday following insider selling activity. The stock had previously closed at $146.44, but opened at $142.27. BeiGene shares last traded at $142.18, with a volume of 9,254 shares.

Specifically, insider Lai Wang sold 1,064 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $159.80, for a total value of $170,027.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Lai Wang sold 1,064 shares of the stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $159.80, for a total transaction of $170,027.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Xiaobin Wu sold 1,459 shares of BeiGene stock in a transaction on Monday, June 24th. The stock was sold at an average price of $159.79, for a total transaction of $233,133.61. The disclosure for this sale can be found here. Insiders sold 32,927 shares of company stock valued at $4,965,913 in the last quarter. 7.43% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

BeiGene Trading Down 2.0 %

The firm has a market cap of $13.67 billion, a P/E ratio of -18.85 and a beta of 0.60. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.84 and a current ratio of 2.08. The stock has a fifty day simple moving average of $156.93 and a 200 day simple moving average of $159.87.

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

Institutional Investors Weigh In On BeiGene

Several hedge funds and other institutional investors have recently made changes to their positions in BGNE. Headlands Technologies LLC bought a new stake in BeiGene during the first quarter valued at approximately $50,000. Toronto Dominion Bank increased its stake in shares of BeiGene by 166.4% in the 3rd quarter. Toronto Dominion Bank now owns 333 shares of the company’s stock worth $60,000 after purchasing an additional 208 shares in the last quarter. Benjamin F. Edwards & Company Inc. bought a new position in BeiGene in the 4th quarter worth $98,000. PNC Financial Services Group Inc. lifted its position in BeiGene by 123.9% during 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 in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in BeiGene during the fourth quarter valued at about $183,000. 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.