BeiGene (NASDAQ:BGNE) Coverage Initiated at StockNews.com

Stock analysts at StockNews.com initiated coverage on shares of BeiGene (NASDAQ:BGNE) in a report released on Saturday. The brokerage set a “hold” rating on the stock.

A number of other equities analysts have also commented on the company. JPMorgan Chase & Co. increased their price target on BeiGene from $200.00 to $235.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Morgan Stanley reiterated an “overweight” rating and set a $300.00 target price on shares of BeiGene in a research report on Tuesday, December 3rd. TD Cowen boosted their price target on shares of BeiGene from $254.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, JMP Securities assumed coverage on shares of BeiGene in a research report on Wednesday, September 18th. They set a “market outperform” rating and a $288.00 price objective for the company. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $253.69.

BeiGene Price Performance

BeiGene has a 1 year low of $126.97 and a 1 year high of $248.16. The firm’s 50-day moving average is $194.32 and its 200 day moving average is $188.98. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.72 and a current ratio of 1.93. The company has a market capitalization of $18.03 billion, a PE ratio of -22.42 and a beta of 0.57.

BeiGene (NASDAQ:BGNE) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1 billion during the quarter, compared to the consensus estimate of $983.26 million. The business’s revenue was up 28.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.01 earnings per share. As a group, equities analysts expect that BeiGene will post -5.64 EPS for the current year.

Insider Buying and Selling at BeiGene

In related news, insider Xiaodong Wang sold 40,468 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $190.10, for a total transaction of $7,692,966.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bros. Advisors Lp Baker sold 1,037,017 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $187.27, for a total value of $194,202,173.59. Following the completion of the transaction, the director now directly owns 791,493 shares in the company, valued at $148,222,894.11. This trade represents a 56.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,119,245 shares of company stock worth $209,700,084 over the last quarter. Insiders own 7.43% of the company’s stock.

Institutional Investors Weigh In On BeiGene

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. bought a new position in shares of BeiGene during the 2nd quarter worth $54,412,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in BeiGene by 160.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 225,854 shares of the company’s stock worth $50,706,000 after acquiring an additional 138,978 shares in the last quarter. Bellevue Group AG increased its position in BeiGene by 129.2% during the 3rd quarter. Bellevue Group AG now owns 58,729 shares of the company’s stock valued at $13,185,000 after purchasing an additional 33,100 shares during the period. XY Capital Ltd bought a new stake in shares of BeiGene in the 3rd quarter valued at about $6,839,000. Finally, Affinity Asset Advisors LLC lifted its position in shares of BeiGene by 33.9% in the 2nd quarter. Affinity Asset Advisors LLC now owns 110,000 shares of the company’s stock worth $15,694,000 after purchasing an additional 27,857 shares during the period. 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.