StockNews.com Begins Coverage on BeiGene (NASDAQ:BGNE)

StockNews.com began coverage on shares of BeiGene (NASDAQ:BGNE) in a research report issued to clients and investors on Saturday. The firm set a “hold” rating on the stock.

A number of other equities analysts have also issued reports on BGNE. 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. Morgan Stanley reiterated an “overweight” rating and issued a $300.00 target price on shares of BeiGene in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. raised their price target on shares of BeiGene from $200.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Finally, TD Cowen increased their price objective on shares of BeiGene from $254.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $253.69.

BeiGene Price Performance

BeiGene has a 52 week low of $126.97 and a 52 week high of $248.16. 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 business has a 50-day moving average price of $194.32 and a 200 day moving average price of $188.98. 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 released its quarterly earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.04). The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $983.26 million. BeiGene had a negative net margin of 25.94% and a negative return on equity of 25.12%. The firm’s quarterly revenue was up 28.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.01 earnings per share. On average, sell-side analysts anticipate that BeiGene will post -5.64 EPS for the current fiscal year.

Insider Activity

In other news, insider Xiaodong Wang sold 40,468 shares of the company’s stock in a transaction that occurred 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 accessible through the SEC website. Also, Director Bros. Advisors Lp Baker sold 1,037,017 shares of BeiGene stock in a transaction on Monday, December 9th. The shares were sold at an average price of $187.27, for a total transaction of $194,202,173.59. Following the completion of the transaction, the director now owns 791,493 shares in the company, valued at approximately $148,222,894.11. This trade represents a 56.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,119,245 shares of company stock valued at $209,700,084. 7.43% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BeiGene

A number of large investors have recently modified their holdings of BGNE. Driehaus Capital Management LLC purchased a new position in BeiGene in the second quarter valued at about $1,168,000. The Manufacturers Life Insurance Company grew its holdings in shares of BeiGene by 8.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 50,262 shares of the company’s stock worth $7,171,000 after acquiring an additional 3,915 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in BeiGene by 160.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 225,854 shares of the company’s stock valued at $50,706,000 after purchasing an additional 138,978 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in BeiGene during the second quarter worth $54,412,000. Finally, Affinity Asset Advisors LLC boosted its position in BeiGene by 33.9% during the second 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 in the last quarter. 48.55% of the stock is owned by hedge funds and other 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.