BeiGene (NASDAQ:BGNE) Shares Gap Up – Here’s What Happened

BeiGene, Ltd. (NASDAQ:BGNE) gapped up prior to trading on Friday . The stock had previously closed at $212.39, but opened at $222.35. BeiGene shares last traded at $218.97, with a volume of 34,996 shares.

Wall Street Analysts Forecast Growth

BGNE has been the topic of several analyst reports. JMP Securities assumed coverage on BeiGene in a research report on Wednesday, September 18th. They set a “market outperform” rating and a $288.00 price target on the stock. JPMorgan Chase & Co. raised their price target on shares of BeiGene from $194.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Citigroup upped their price target on shares of BeiGene from $269.00 to $288.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Finally, Bank of America lowered their price objective on BeiGene from $180.00 to $152.50 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, BeiGene has a consensus rating of “Moderate Buy” and an average price target of $241.21.

BeiGene Price Performance

The business’s fifty day moving average price is $206.64 and its 200-day moving average price is $172.88. The company has a market capitalization of $20.92 billion, a P/E ratio of -28.06 and a beta of 0.62. The company has a current ratio of 1.98, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06.

BeiGene (NASDAQ:BGNE) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($1.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.27) by $1.12. The firm had revenue of $929.20 million during the quarter, compared to analyst estimates of $810.34 million. BeiGene had a negative return on equity of 14.93% and a negative net margin of 16.91%. The company’s revenue was up 56.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($3.64) earnings per share. As a group, sell-side analysts predict that BeiGene, Ltd. will post -5.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Chan Henry Lee sold 834 shares of the 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. 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 stock was sold at an average price of $160.57, for a total transaction of $133,915.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Titus B. Ball sold 137 shares of BeiGene stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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. Insiders sold a total of 23,904 shares of company stock valued at $5,034,965 over the last quarter. 7.43% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BeiGene

Several institutional investors have recently added to or reduced their stakes in the company. Capital International Investors raised its stake in shares of BeiGene by 11.5% during the first 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 last quarter. Price T Rowe Associates Inc. MD raised its position in BeiGene by 6.2% during the 1st 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 raised its position in BeiGene by 6.0% during the 1st 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 last quarter. Point72 Asset Management L.P. purchased a new stake in BeiGene in the 2nd quarter worth approximately $54,412,000. Finally, Goldman Sachs Group Inc. grew its position in shares of BeiGene by 175.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 214,339 shares of the company’s stock worth $38,658,000 after buying an additional 136,458 shares during the last quarter. Hedge funds and other 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.