BeiGene (NASDAQ:BGNE) Raised to “Buy” at StockNews.com

BeiGene (NASDAQ:BGNE) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

Several other equities research analysts have also weighed in on the stock. TD Cowen upped their target price on shares of BeiGene from $254.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday. JMP Securities assumed coverage on shares of BeiGene in a research note on Wednesday, September 18th. They set a “market outperform” rating and a $288.00 price objective on the stock. Citigroup lifted their target price on shares of BeiGene from $269.00 to $288.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. raised their price target on BeiGene from $200.00 to $235.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $247.07.

BeiGene Stock Down 1.1 %

Shares of BGNE opened at $193.29 on Wednesday. The company has a quick ratio of 1.75, a current ratio of 1.98 and a debt-to-equity ratio of 0.06. The company has a 50-day moving average price of $212.91 and a two-hundred day moving average price of $181.72. The stock has a market cap of $18.83 billion, a price-to-earnings ratio of -23.68 and a beta of 0.63. BeiGene has a 12 month low of $126.97 and a 12 month high of $248.16.

BeiGene (NASDAQ:BGNE) last posted its earnings results on Tuesday, November 12th. The company reported ($1.15) EPS for the quarter, missing the consensus estimate of ($1.11) by ($0.04). BeiGene had a negative return on equity of 25.15% and a negative net margin of 25.94%. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $983.26 million. During the same quarter last year, the business earned $2.01 EPS. BeiGene’s quarterly revenue was up 28.2% compared to the same quarter last year. Equities analysts predict that BeiGene will post -5 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO John Oyler sold 6,175 shares of BeiGene stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $232.22, for a total transaction of $1,433,958.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Chan Henry Lee sold 1,202 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $237.10, for a total transaction of $284,994.20. The disclosure for this sale can be found here. Insiders sold 23,070 shares of company stock worth $4,901,050 in the last quarter. Insiders own 7.43% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Blue Trust Inc. grew its stake in shares of BeiGene by 156.3% during the third quarter. Blue Trust Inc. now owns 123 shares of the company’s stock worth $28,000 after purchasing an additional 75 shares during the period. Allspring Global Investments Holdings LLC bought a new position in BeiGene during the third quarter worth about $36,000. Headlands Technologies LLC acquired a new position in shares of BeiGene during the 1st quarter worth about $50,000. SG Americas Securities LLC bought a new stake in shares of BeiGene in the 3rd quarter valued at about $105,000. Finally, PFG Investments LLC acquired a new stake in shares of BeiGene in the 3rd quarter valued at approximately $210,000. Institutional investors and hedge funds 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.