BeiGene (NASDAQ:BGNE) Shares Gap Up to $218.42

BeiGene, Ltd. (NASDAQ:BGNE) shares gapped up prior to trading on Monday . The stock had previously closed at $218.42, but opened at $237.10. BeiGene shares last traded at $233.00, with a volume of 78,400 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have issued reports on BGNE shares. Bank of America cut their price target 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. JPMorgan Chase & Co. increased their target price on shares of BeiGene from $194.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. JMP Securities assumed coverage on shares of BeiGene in a research note on Wednesday, September 18th. They issued a “market outperform” rating and a $288.00 price target for the company. Finally, Citigroup lifted their target price on BeiGene from $269.00 to $288.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $241.21.

BeiGene Trading Up 0.3 %

The business’s 50 day simple moving average is $187.99 and its 200 day simple moving average is $166.08. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.98 and a quick ratio of 1.75. The company has a market capitalization of $21.23 billion, a price-to-earnings ratio of -30.62 and a beta of 0.61.

BeiGene (NASDAQ:BGNE) last announced 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 firm 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) EPS. BeiGene’s quarterly revenue was up 56.1% on a year-over-year basis. Research analysts anticipate that BeiGene, Ltd. will post -5.13 EPS for the current year.

Insider Activity at BeiGene

In other BeiGene news, SVP Chan Henry Lee sold 834 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $160.57, for a total transaction of $133,915.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, COO Xiaobin Wu sold 5,556 shares of BeiGene stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $189.65, for a total value of $1,053,695.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Chan Henry Lee sold 834 shares of BeiGene stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $160.57, for a total value of $133,915.38. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,527 shares of company stock valued at $2,214,263. 7.43% of the stock is owned by insiders.

Institutional Trading of BeiGene

Several institutional investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC bought a new stake in BeiGene in the 1st quarter valued at about $50,000. Benjamin F. Edwards & Company Inc. increased its position in shares of BeiGene by 51.5% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 821 shares of the company’s stock valued at $128,000 after purchasing an additional 279 shares during the period. Acadian Asset Management LLC grew its holdings in BeiGene by 204.1% during the first quarter. Acadian Asset Management LLC now owns 1,265 shares of the company’s stock worth $197,000 after acquiring an additional 849 shares during the period. Envestnet Portfolio Solutions Inc. bought a new position in shares of BeiGene in the first quarter valued at $209,000. Finally, Truist Financial Corp lifted its position in shares of BeiGene by 10.1% during the 2nd quarter. Truist Financial Corp now owns 1,521 shares of the company’s stock valued at $217,000 after acquiring an additional 140 shares during the last quarter. 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.