BeiGene (NASDAQ:BGNE) Shares Gap Down to $211.15

BeiGene, Ltd. (NASDAQ:BGNE) gapped down before the market opened on Thursday . The stock had previously closed at $211.15, but opened at $199.00. BeiGene shares last traded at $199.07, with a volume of 174,022 shares traded.

Analyst Ratings Changes

Several equities research analysts have issued reports on BGNE shares. JPMorgan Chase & Co. increased their price target on BeiGene from $194.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Citigroup raised their price target on shares of BeiGene from $269.00 to $288.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Finally, Bank of America cut their price objective on shares of BeiGene from $180.00 to $152.50 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Three equities research 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, BeiGene presently has an average rating of “Moderate Buy” and a consensus target price of $237.07.

BeiGene Trading Down 7.2 %

The company has a debt-to-equity ratio of 0.06, a current ratio of 1.98 and a quick ratio of 1.75. The firm has a market cap of $18.99 billion, a price-to-earnings ratio of -26.10 and a beta of 0.61. The firm’s fifty day moving average is $175.16 and its 200-day moving average is $163.01.

BeiGene (NASDAQ:BGNE) last released its earnings results on Wednesday, August 7th. The company reported ($1.15) EPS for the quarter, topping the consensus estimate of ($2.27) by $1.12. BeiGene had a negative return on equity of 14.93% and a negative net margin of 16.91%. The business had revenue of $929.20 million during the quarter, compared to analysts’ expectations of $810.34 million. During the same quarter last year, the firm posted ($3.64) earnings per share. The firm’s revenue was up 56.1% on a year-over-year basis. Equities analysts anticipate that BeiGene, Ltd. will post -5.13 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Xiaobin Wu sold 1,459 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $159.79, for a total transaction of $233,133.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, COO Xiaobin Wu sold 1,459 shares of the stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Titus B. Ball sold 137 shares of BeiGene stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $189.94, for a total value of $26,021.78. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,210 shares of company stock worth $2,269,721. 7.43% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BeiGene

Several institutional investors and hedge funds have recently bought and sold shares of BGNE. Sanctuary Advisors LLC purchased a new position in shares of BeiGene in the second quarter valued at $1,038,000. Truist Financial Corp boosted its stake in 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 purchasing an additional 140 shares during the period. Driehaus Capital Management LLC purchased a new position in BeiGene during the 2nd quarter valued at about $1,168,000. The Manufacturers Life Insurance Company grew its holdings in BeiGene by 8.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 50,262 shares of the company’s stock valued at $7,171,000 after buying an additional 3,915 shares in the last quarter. Finally, Affinity Asset Advisors LLC increased its position in shares of BeiGene by 33.9% during the second quarter. Affinity Asset Advisors LLC now owns 110,000 shares of the company’s stock valued at $15,694,000 after buying an additional 27,857 shares during the period. 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.