BeiGene’s (BGNE) “Overweight” Rating Reiterated at Morgan Stanley

Morgan Stanley restated their overweight rating on shares of BeiGene (NASDAQ:BGNE) in a research report report published on Tuesday morning, MarketBeat.com reports. The firm currently has a $300.00 target price on the stock.

Several other equities research analysts have also issued reports on the stock. Citigroup increased their target price on shares of BeiGene from $269.00 to $288.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. JMP Securities started coverage on BeiGene in a report on Wednesday, September 18th. They issued a “market outperform” rating and a $288.00 price objective on the stock. JPMorgan Chase & Co. upped their target price on BeiGene from $200.00 to $235.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. TD Cowen lifted their price target on shares of BeiGene from $254.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, StockNews.com cut shares of BeiGene from a “buy” rating to a “hold” rating in a research report on Thursday, November 21st. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, BeiGene has a consensus rating of “Moderate Buy” and an average price target of $253.69.

BeiGene Stock Up 0.1 %

Shares of BGNE stock opened at $206.01 on Tuesday. BeiGene has a twelve month low of $126.97 and a twelve month high of $248.16. The stock has a market cap of $20.07 billion, a P/E ratio of -25.00 and a beta of 0.57. The stock has a 50 day moving average of $212.45 and a 200 day moving average of $185.24. The company has a current ratio of 1.93, a quick ratio of 1.72 and a debt-to-equity ratio of 0.05.

BeiGene (NASDAQ:BGNE) last posted its 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 net margin of 25.94% and a negative return on equity of 25.12%. The firm had revenue of $1 billion for the quarter, compared to analysts’ expectations of $983.26 million. During the same period last year, the firm earned $2.01 earnings per share. BeiGene’s revenue for the quarter was up 28.2% compared to the same quarter last year. As a group, sell-side analysts expect that BeiGene will post -5.49 EPS for the current year.

Insider Transactions at BeiGene

In other BeiGene news, insider Xiaodong Wang sold 40,468 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $190.10, for a total value of $7,692,966.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Xiaobin Wu sold 4,500 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $200.14, for a total value of $900,630.00. The disclosure for this sale can be found here. Insiders sold 57,845 shares of company stock valued at $11,514,300 over the last 90 days. 7.43% of the stock is currently owned by corporate insiders.

Institutional Trading of BeiGene

A number of hedge funds and other institutional investors have recently modified their holdings of BGNE. XTX Topco Ltd acquired a new position in shares of BeiGene during the 3rd quarter valued at about $1,614,000. Quantinno Capital Management LP acquired a new position in BeiGene in the 3rd quarter valued at about $295,000. Point72 Asset Management L.P. grew its stake in shares of BeiGene by 74.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 667,166 shares of the company’s stock valued at $149,785,000 after buying an additional 285,784 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of BeiGene during the 3rd quarter worth approximately $67,000. Finally, Erste Asset Management GmbH acquired a new stake in shares of BeiGene during the 3rd quarter worth approximately $4,478,000. 48.55% of the stock is owned by institutional investors and hedge funds.

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.