TD Cowen Forecasts Strong Price Appreciation for BeiGene (NASDAQ:BGNE) Stock

BeiGene (NASDAQ:BGNE) had its price objective raised by investment analysts at TD Cowen from $254.00 to $260.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s price objective points to a potential upside of 34.51% from the stock’s current price.

Several other brokerages also recently commented on BGNE. JMP Securities started coverage on shares of BeiGene in a report on Wednesday, September 18th. They issued a “market outperform” rating and a $288.00 target price on the stock. JPMorgan Chase & Co. boosted their price objective on BeiGene from $200.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Finally, Citigroup raised their target price on BeiGene from $269.00 to $288.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $247.07.

BeiGene Trading Down 1.1 %

Shares of NASDAQ:BGNE opened at $193.29 on Wednesday. The company has a current ratio of 1.98, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $18.83 billion, a PE ratio of -23.68 and a beta of 0.63. BeiGene has a 1 year low of $126.97 and a 1 year high of $248.16. The firm has a fifty day moving average price of $212.91 and a 200 day moving average price of $181.72.

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 return on equity of 25.15% and a negative net margin of 25.94%. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $983.26 million. During the same quarter last year, the firm posted $2.01 earnings per share. The firm’s revenue for the quarter was up 28.2% compared to the same quarter last year. Analysts expect that BeiGene will post -5 EPS for the current fiscal year.

Insider Buying and Selling

In other BeiGene news, insider Titus B. Ball sold 137 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $189.94, for a total transaction of $26,021.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Xiaobin Wu sold 5,556 shares of the business’s stock in a transaction 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. Insiders sold a total of 23,070 shares of company stock valued at $4,901,050 over the last ninety days. 7.43% of the stock is owned by company insiders.

Hedge Funds Weigh In On BeiGene

Several institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. increased its holdings in shares of BeiGene by 156.3% during the third quarter. Blue Trust Inc. now owns 123 shares of the company’s stock worth $28,000 after buying an additional 75 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in BeiGene during the 3rd quarter valued at $36,000. Headlands Technologies LLC bought a new position in BeiGene in the 1st quarter valued at $50,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in BeiGene in the third quarter worth $67,000. Finally, SG Americas Securities LLC acquired a new position in BeiGene in the third quarter worth $105,000. 48.55% of the stock is owned by institutional investors.

BeiGene Company Profile

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.