JPMorgan Chase & Co. Boosts BeiGene (NASDAQ:BGNE) Price Target to $235.00

BeiGene (NASDAQ:BGNE) had its price objective hoisted by equities research analysts at JPMorgan Chase & Co. from $200.00 to $235.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 6.33% from the company’s current price.

Other analysts have also issued reports about the stock. Citigroup raised their price objective on shares of BeiGene from $269.00 to $288.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. JMP Securities initiated coverage on BeiGene in a research note on Wednesday, September 18th. They issued a “market outperform” rating and a $288.00 target price for the company. Finally, Bank of America decreased their price objective on 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 issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $246.21.

BeiGene Price Performance

Shares of BeiGene stock opened at $221.01 on Tuesday. The company has a market cap of $21.42 billion, a PE ratio of -29.20 and a beta of 0.62. The business has a 50 day moving average of $209.32 and a 200 day moving average of $174.90. BeiGene has a 52 week low of $126.97 and a 52 week high of $248.16. The company has a quick ratio of 1.75, a current ratio of 1.98 and a debt-to-equity ratio of 0.06.

BeiGene (NASDAQ:BGNE) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($1.15) EPS for the quarter, topping the consensus estimate of ($2.27) by $1.12. The business had revenue of $929.20 million during the quarter, compared to analyst estimates of $810.34 million. BeiGene had a negative net margin of 16.91% and a negative return on equity of 14.93%. The company’s revenue for the quarter was up 56.1% on a year-over-year basis. During the same period in the prior year, the business earned ($3.64) EPS. As a group, equities research analysts forecast that BeiGene will post -5.07 earnings per share for the current year.

Insider Activity at BeiGene

In other BeiGene news, SVP Chan Henry Lee sold 834 shares of BeiGene stock in a transaction on Tuesday, July 30th. The stock was 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 Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Titus B. Ball sold 137 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $189.94, for a total transaction of $26,021.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Chan Henry Lee sold 834 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $160.57, for a total transaction of $133,915.38. The disclosure for this sale can be found here. Insiders sold a total of 23,904 shares of company stock valued at $5,034,965 in the last 90 days. Corporate insiders own 7.43% of the company’s stock.

Institutional Trading of BeiGene

Several institutional investors have recently added to or reduced their stakes in the business. Capital International Investors lifted its stake in BeiGene by 11.5% during the 1st quarter. Capital International Investors now owns 7,064,428 shares of the company’s stock valued at $1,104,806,000 after acquiring an additional 727,556 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of BeiGene by 6.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,026,094 shares of the company’s stock valued at $316,862,000 after purchasing an additional 117,905 shares during the last quarter. Capital International Inc. CA lifted its position in BeiGene by 6.0% during the first quarter. Capital International Inc. CA now owns 858,364 shares of the company’s stock valued at $134,240,000 after purchasing an additional 48,615 shares during the period. Point72 Asset Management L.P. purchased a new stake in BeiGene in the second quarter worth approximately $54,412,000. Finally, Capital Group Private Client Services Inc. grew its position in BeiGene by 5.9% in the 1st quarter. Capital Group Private Client Services Inc. now owns 208,800 shares of the company’s stock worth $32,654,000 after purchasing an additional 11,579 shares during the period. 48.55% of the stock is currently owned by hedge funds and other 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.