BeiGene (NASDAQ:BGNE) Hits New 1-Year High – Time to Buy?

Shares of BeiGene, Ltd. (NASDAQ:BGNE) hit a new 52-week high during trading on Friday . The stock traded as high as $248.16 and last traded at $245.99, with a volume of 31298 shares traded. The stock had previously closed at $233.64.

Analysts Set New Price Targets

BGNE has been the subject of several research analyst reports. 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 for the company. Citigroup boosted their price target on BeiGene from $269.00 to $288.00 and gave the company a “buy” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. upped their price target on BeiGene from $194.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Finally, Bank of America decreased their price objective on shares of BeiGene from $180.00 to $152.50 and set a “neutral” rating for the company in a report on Tuesday, July 9th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, BeiGene has an average rating of “Moderate Buy” and an average price target of $241.21.

BeiGene Stock Performance

The firm’s fifty day moving average is $193.54 and its 200 day moving average is $167.83. The firm has a market capitalization of $23.91 billion, a price-to-earnings ratio of -32.60 and a beta of 0.61. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.98 and a quick ratio of 1.75.

BeiGene (NASDAQ:BGNE) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($1.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.27) by $1.12. BeiGene had a negative net margin of 16.91% and a negative return on equity of 14.93%. The business had revenue of $929.20 million during the quarter, compared to analysts’ expectations of $810.34 million. During the same period in the previous year, the company earned ($3.64) earnings per share. BeiGene’s revenue for the quarter was up 56.1% on a year-over-year basis. On average, analysts predict that BeiGene, Ltd. will post -5.13 EPS for the current fiscal year.

Insider Transactions at BeiGene

In related news, SVP Chan Henry Lee sold 834 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $160.57, for a total value of $133,915.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, SVP Chan Henry Lee sold 834 shares of BeiGene stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $160.57, for a total transaction of $133,915.38. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Xiaobin Wu sold 5,556 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $189.65, for a total transaction of $1,053,695.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,729 shares of company stock valued at $3,601,007. Corporate insiders own 7.43% of the company’s stock.

Hedge Funds Weigh In On BeiGene

A number of large investors have recently made changes to their positions in BGNE. Raymond James & Associates boosted its position in BeiGene by 0.4% in the second quarter. Raymond James & Associates now owns 21,275 shares of the company’s stock valued at $3,035,000 after buying an additional 76 shares in the last quarter. Truist Financial Corp grew its position in BeiGene by 10.1% in the 2nd quarter. Truist Financial Corp now owns 1,521 shares of the company’s stock valued at $217,000 after purchasing an additional 140 shares during the period. Parkwood LLC boosted its holdings in BeiGene by 3.0% during the 4th quarter. Parkwood LLC now owns 6,464 shares of the company’s stock worth $1,166,000 after acquiring an additional 191 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of BeiGene by 8.1% during the 1st quarter. ProShare Advisors LLC now owns 2,902 shares of the company’s stock worth $454,000 after buying an additional 217 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its stake in shares of BeiGene by 51.5% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 821 shares of the company’s stock worth $128,000 after purchasing an additional 279 shares during the last quarter. 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.