BeiGene (NASDAQ:BGNE) Now Covered by Analysts at JMP Securities

JMP Securities assumed coverage on shares of BeiGene (NASDAQ:BGNE) in a report issued on Wednesday morning, Marketbeat reports. The brokerage issued a market outperform rating and a $288.00 target price on the stock.

Other equities research analysts also recently issued research reports about the company. Citigroup lifted their target price on BeiGene from $269.00 to $288.00 and gave the company a buy rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. boosted their price objective on shares of BeiGene from $194.00 to $200.00 and gave the company an overweight rating in a report on Tuesday, August 20th. Finally, Bank of America lowered their target price on shares of BeiGene from $180.00 to $152.50 and set a neutral rating for the company in a research note on Tuesday, July 9th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $241.21.

BeiGene Trading Up 1.7 %

Shares of BGNE stock opened at $201.99 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. BeiGene has a twelve month low of $126.97 and a twelve month high of $215.00. The company’s 50-day moving average price is $182.24 and its 200-day moving average price is $164.45. The stock has a market cap of $19.57 billion, a price-to-earnings ratio of -26.68 and a beta of 0.61.

BeiGene (NASDAQ:BGNE) last posted its earnings results on Wednesday, August 7th. The company reported ($1.15) earnings per share for the quarter, beating the consensus estimate of ($2.27) by $1.12. The company had revenue of $929.20 million for the quarter, compared to analyst estimates of $810.34 million. BeiGene had a negative net margin of 16.91% and a negative return on equity of 14.93%. BeiGene’s revenue was up 56.1% on a year-over-year basis. During the same period in the previous year, the business posted ($3.64) EPS. As a group, equities analysts predict that BeiGene will post -5.13 earnings per share for the current year.

Insider Activity

In other BeiGene news, SVP Chan Henry Lee sold 834 shares of the stock in a transaction that occurred 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 can be accessed through the SEC website. In other BeiGene news, SVP Chan Henry Lee sold 834 shares of the business’s stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Julia Aijun Wang sold 899 shares of the business’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $155.66, for a total transaction of $139,938.34. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,210 shares of company stock valued at $3,270,351. 7.43% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BeiGene

Several institutional investors have recently added to or reduced their stakes in BGNE. Capital International Investors raised its holdings in BeiGene by 11.5% during the first quarter. Capital International Investors now owns 7,064,428 shares of the company’s stock worth $1,104,806,000 after purchasing an additional 727,556 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake 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 worth $316,862,000 after acquiring an additional 117,905 shares in the last quarter. Capital International Inc. CA lifted its position in BeiGene by 6.0% in the first quarter. Capital International Inc. CA now owns 858,364 shares of the company’s stock valued at $134,240,000 after acquiring an additional 48,615 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in BeiGene in the second quarter valued at $54,412,000. Finally, First Trust Advisors LP acquired a new position in BeiGene in the fourth quarter valued at $39,632,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.

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.