BeiGene (NASDAQ:BGNE) Sets New 52-Week High at $212.31

BeiGene, Ltd. (NASDAQ:BGNE) hit a new 52-week high on Wednesday . The stock traded as high as $212.31 and last traded at $211.16, with a volume of 76525 shares trading hands. The stock had previously closed at $197.70.

Wall Street Analysts Forecast Growth

Several research analysts have commented on BGNE shares. Citigroup raised their target price on BeiGene from $269.00 to $288.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. boosted their price objective on shares of BeiGene from $194.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Finally, Bank of America lowered their target price on shares of BeiGene from $180.00 to $152.50 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, BeiGene currently has a consensus rating of “Moderate Buy” and an average target price of $233.42.

BeiGene Trading Down 7.0 %

The stock’s 50 day simple moving average is $175.16 and its 200 day simple moving average is $163.01. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.98. The firm has a market cap of $19.02 billion, a PE ratio of -26.10 and a beta of 0.61.

BeiGene (NASDAQ:BGNE) last released its earnings results on Wednesday, August 7th. The company reported ($1.15) EPS for the quarter, beating analysts’ consensus estimates of ($2.27) by $1.12. BeiGene had a negative return on equity of 14.93% and a negative net margin of 16.91%. The business had revenue of $929.20 million for the quarter, compared to analysts’ expectations of $810.34 million. During the same quarter in the prior year, the firm earned ($3.64) earnings per share. The firm’s revenue was up 56.1% on a year-over-year basis. On average, sell-side analysts forecast that BeiGene, Ltd. will post -5.13 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO John Oyler sold 2,789 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $159.58, for a total value of $445,068.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Julia Aijun Wang sold 899 shares of BeiGene stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $155.66, for a total value of $139,938.34. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO John Oyler sold 2,789 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $159.58, for a total value of $445,068.62. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,210 shares of company stock worth $2,269,721. 7.43% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BeiGene

A number of large investors have recently bought and sold shares of BGNE. Raymond James & Associates grew its holdings in shares of BeiGene by 0.4% in the second quarter. Raymond James & Associates now owns 21,275 shares of the company’s stock worth $3,035,000 after purchasing an additional 76 shares during the last quarter. Truist Financial Corp grew its holdings in BeiGene by 10.1% in the 2nd quarter. Truist Financial Corp now owns 1,521 shares of the company’s stock worth $217,000 after acquiring an additional 140 shares during the last quarter. Parkwood LLC grew its holdings in BeiGene by 3.0% in the 4th quarter. Parkwood LLC now owns 6,464 shares of the company’s stock worth $1,166,000 after acquiring an additional 191 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of BeiGene by 8.1% during the first quarter. ProShare Advisors LLC now owns 2,902 shares of the company’s stock valued at $454,000 after acquiring an additional 217 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its stake in shares of BeiGene by 51.5% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 821 shares of the company’s stock valued at $128,000 after acquiring an additional 279 shares during the last quarter. 48.55% of the stock is owned by hedge funds and other institutional investors.

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.