BeiGene (NASDAQ:BGNE) Announces Quarterly Earnings Results

BeiGene (NASDAQ:BGNE) released its earnings results on Tuesday. The company reported ($1.15) EPS for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.04), Briefing.com reports. BeiGene had a negative net margin of 25.94% and a negative return on equity of 25.15%. The business had revenue of $1 billion during the quarter, compared to analyst estimates of $983.26 million. During the same period last year, the business posted $2.01 EPS. BeiGene’s revenue was up 28.2% compared to the same quarter last year.

BeiGene Price Performance

Shares of NASDAQ BGNE traded down $2.52 during trading on Thursday, reaching $192.93. The company had a trading volume of 31,641 shares, compared to its average volume of 264,053. 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 $18.79 billion, a PE ratio of -23.72 and a beta of 0.63. BeiGene has a twelve month low of $126.97 and a twelve month high of $248.16. The stock has a 50-day moving average price of $212.91 and a two-hundred day moving average price of $181.72.

Wall Street Analyst Weigh In

BGNE has been the topic of a number of research analyst reports. TD Cowen boosted their price objective on shares of BeiGene from $254.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday. StockNews.com raised BeiGene from a “hold” rating to a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. raised their price objective on BeiGene from $200.00 to $235.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. JMP Securities began coverage on BeiGene in a research report on Wednesday, September 18th. They set a “market outperform” rating and a $288.00 target price on the stock. Finally, Citigroup upped 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 equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $247.07.

Insider Activity at BeiGene

In other news, CEO John Oyler sold 6,175 shares of BeiGene stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $232.22, for a total transaction of $1,433,958.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO John Oyler sold 6,175 shares of BeiGene stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $232.22, for a total value of $1,433,958.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Chan Henry Lee sold 1,202 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $237.10, for a total value of $284,994.20. The disclosure for this sale can be found here. Insiders have sold a total of 23,070 shares of company stock valued at $4,901,050 over the last quarter. Insiders own 7.43% 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.