BeiGene (NASDAQ:BGNE) Shares Gap Up to $198.59

BeiGene, Ltd. (NASDAQ:BGNE) gapped up before the market opened on Friday . The stock had previously closed at $198.59, but opened at $205.67. BeiGene shares last traded at $205.86, with a volume of 17,652 shares traded.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Bank of America cut their price objective on BeiGene from $180.00 to $152.50 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Citigroup raised their price target on BeiGene from $269.00 to $288.00 and gave the company a “buy” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. increased their price objective on shares of BeiGene from $194.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Finally, JMP Securities started coverage on shares of BeiGene in a research note on Wednesday. They set a “market outperform” rating and a $288.00 target price for the company. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, BeiGene currently has an average rating of “Moderate Buy” and an average price target of $241.21.

BeiGene Price Performance

The firm has a market capitalization of $19.90 billion, a price-to-earnings ratio of -26.23 and a beta of 0.61. The company’s 50 day moving average is $181.25 and its 200 day moving average is $164.21. The company has a quick ratio of 1.75, a current ratio of 1.98 and a debt-to-equity ratio of 0.06.

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

Insider Buying and Selling at BeiGene

In related news, CEO John Oyler sold 2,789 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $159.58, for a total value of $445,068.62. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO John Oyler sold 2,789 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $159.58, for a total transaction of $445,068.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Julia Aijun Wang sold 899 shares of BeiGene stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $155.66, for a total transaction of $139,938.34. The disclosure for this sale can be found here. Insiders sold 18,210 shares of company stock valued at $3,270,351 in the last three months. Corporate insiders own 7.43% of the company’s stock.

Institutional Trading of BeiGene

Institutional investors and hedge funds have recently modified their holdings of the business. Capital International Investors raised its stake in BeiGene by 11.5% during the first quarter. Capital International Investors now owns 7,064,428 shares of the company’s stock worth $1,104,806,000 after acquiring an additional 727,556 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in BeiGene during the 2nd quarter worth approximately $54,412,000. First Trust Advisors LP bought a new position in BeiGene in the 4th quarter valued at approximately $39,632,000. M&G Plc acquired a new stake in BeiGene in the first quarter valued at approximately $29,649,000. Finally, Goldman Sachs Group Inc. grew its stake in shares of BeiGene by 175.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 214,339 shares of the company’s stock worth $38,658,000 after buying an additional 136,458 shares during the last quarter. 48.55% of the stock is currently owned by institutional investors.

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.