StockNews.com Downgrades BeiGene (NASDAQ:BGNE) to Hold

StockNews.com lowered shares of BeiGene (NASDAQ:BGNE) from a buy rating to a hold rating in a research note released on Thursday morning.

A number of other analysts also recently issued reports on BGNE. JMP Securities started coverage on shares of BeiGene in a report on Wednesday, September 18th. They set a “market outperform” rating and a $288.00 price target on the stock. TD Cowen raised 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, November 13th. JPMorgan Chase & Co. boosted their target price on shares of BeiGene from $200.00 to $235.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Finally, Citigroup raised their price target on BeiGene from $269.00 to $288.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $247.07.

BeiGene Price Performance

Shares of NASDAQ BGNE opened at $190.51 on Thursday. The firm has a market cap of $18.56 billion, a P/E ratio of -23.12 and a beta of 0.63. BeiGene has a twelve month low of $126.97 and a twelve month high of $248.16. The company has a quick ratio of 1.72, a current ratio of 1.93 and a debt-to-equity ratio of 0.05. The company has a 50 day moving average of $212.06 and a 200 day moving average of $183.12.

BeiGene (NASDAQ:BGNE) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share for the quarter, missing the consensus estimate of ($1.11) by ($0.04). BeiGene had a negative return on equity of 25.12% and a negative net margin of 25.94%. The business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $983.26 million. During the same quarter in the prior year, the firm earned $2.01 EPS. The firm’s revenue for the quarter was up 28.2% compared to the same quarter last year. As a group, research analysts expect that BeiGene will post -5.38 EPS for the current fiscal year.

Insider Activity at BeiGene

In other news, SVP Chan Henry Lee sold 1,202 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $237.10, for a total value of $284,994.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO John Oyler sold 6,175 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $232.22, for a total value of $1,433,958.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,070 shares of company stock worth $4,901,050. Corporate insiders own 7.43% of the company’s stock.

Institutional Trading of BeiGene

Several institutional investors and hedge funds have recently modified their holdings of BGNE. Blue Trust Inc. increased its stake in BeiGene by 156.3% in the 3rd quarter. Blue Trust Inc. now owns 123 shares of the company’s stock worth $28,000 after buying an additional 75 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of BeiGene in the third quarter worth about $36,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of BeiGene in the third quarter worth about $67,000. SG Americas Securities LLC purchased a new stake in shares of BeiGene during the third quarter worth about $105,000. Finally, Acadian Asset Management LLC raised its stake in BeiGene by 204.1% during the 1st quarter. Acadian Asset Management LLC now owns 1,265 shares of the company’s stock valued at $197,000 after purchasing an additional 849 shares during the period. 48.55% of the stock is currently owned by 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.