BeiGene (NASDAQ:BGNE) Stock Price Down 2.6%

BeiGene, Ltd. (NASDAQ:BGNE)’s stock price was down 2.6% during mid-day trading on Friday . The company traded as low as $193.07 and last traded at $193.32. Approximately 20,332 shares traded hands during trading, a decline of 92% from the average daily volume of 244,450 shares. The stock had previously closed at $198.50.

Analyst Ratings Changes

Several research analysts recently commented on the stock. JPMorgan Chase & Co. raised their price target on shares of BeiGene from $194.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Citigroup increased their price objective on shares of BeiGene from $269.00 to $288.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Bank of America reduced their target price on shares of BeiGene from $180.00 to $152.50 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Finally, TD Cowen increased their price target on BeiGene from $236.00 to $254.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, BeiGene has a consensus rating of “Moderate Buy” and a consensus target price of $239.81.

BeiGene Price Performance

The company has a current ratio of 2.08, a quick ratio of 1.84 and a debt-to-equity ratio of 0.06. The stock has a market cap of $18.58 billion, a PE ratio of -25.33 and a beta of 0.59. The company’s 50 day moving average is $167.72 and its 200-day moving average is $160.51.

BeiGene (NASDAQ:BGNE) last announced its earnings results on Wednesday, August 7th. The company reported ($1.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.27) by $1.12. The business had revenue of $929.20 million for the quarter, compared to analyst estimates of $810.34 million. BeiGene had a negative return on equity of 21.70% and a negative net margin of 28.39%. The company’s revenue for the quarter was up 56.1% compared to the same quarter last year. During the same period in the previous year, the company earned ($3.64) earnings per share. As a group, sell-side analysts predict that BeiGene, Ltd. will post -7.76 earnings per share for the current year.

Insider Buying and Selling at BeiGene

In other news, CFO Julia Aijun Wang sold 472 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $143.90, for a total transaction of $67,920.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, COO Xiaobin Wu sold 1,459 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $159.79, for a total value of $233,133.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Julia Aijun Wang sold 472 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $143.90, for a total value of $67,920.80. The disclosure for this sale can be found here. Insiders have sold a total of 7,517 shares of company stock valued at $1,190,004 in the last three months. Corporate insiders own 7.43% of the company’s stock.

Institutional Investors Weigh In On BeiGene

Institutional investors have recently made changes to their positions in the company. Raymond James & Associates lifted its stake in BeiGene by 0.4% during the second quarter. Raymond James & Associates now owns 21,275 shares of the company’s stock worth $3,035,000 after purchasing an additional 76 shares during the last quarter. Vestmark Advisory Solutions Inc. raised its holdings in shares of BeiGene by 9.5% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 1,601 shares of the company’s stock worth $289,000 after purchasing an additional 139 shares during the period. Truist Financial Corp lifted its position in shares of BeiGene by 10.1% in the 2nd quarter. Truist Financial Corp now owns 1,521 shares of the company’s stock worth $217,000 after buying an additional 140 shares during the last quarter. Parkwood LLC boosted its holdings in shares of BeiGene by 3.0% in the 4th quarter. Parkwood LLC now owns 6,464 shares of the company’s stock valued at $1,166,000 after buying an additional 191 shares during the period. Finally, ProShare Advisors LLC boosted its holdings in shares of BeiGene by 8.1% in the 1st quarter. ProShare Advisors LLC now owns 2,902 shares of the company’s stock valued at $454,000 after buying an additional 217 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.