Brokerages Set BeiGene, Ltd. (NASDAQ:BGNE) Price Target at $233.42

Shares of BeiGene, Ltd. (NASDAQ:BGNE) have been given an average recommendation of “Moderate Buy” by the seven ratings firms that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $241.21.

Several equities research analysts have commented on BGNE shares. JMP Securities began coverage on BeiGene in a research note on Wednesday. They issued a “market outperform” rating and a $288.00 target price on the stock. JPMorgan Chase & Co. boosted their price objective on shares of BeiGene from $194.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Bank of America reduced their target price on shares of BeiGene from $180.00 to $152.50 and set a “neutral” rating for the company in a report on Tuesday, July 9th. Finally, Citigroup lifted their price target on shares of BeiGene from $269.00 to $288.00 and gave the company a “buy” rating in a research note on Thursday, August 8th.

BeiGene Trading Up 1.7 %

Shares of NASDAQ:BGNE opened at $201.99 on Monday. The firm has a market cap of $19.57 billion, a price-to-earnings ratio of -26.68 and a beta of 0.61. BeiGene has a 12 month low of $126.97 and a 12 month high of $215.00. The company’s fifty day simple moving average is $182.24 and its 200 day simple moving average is $164.45. The company has a quick ratio of 1.75, a current ratio of 1.98 and a debt-to-equity ratio of 0.06.

BeiGene (NASDAQ:BGNE) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($1.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.27) by $1.12. The firm had revenue of $929.20 million for the quarter, compared to the consensus estimate 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 for the quarter was up 56.1% on a year-over-year basis. During the same quarter last year, the business posted ($3.64) EPS. As a group, research analysts forecast that BeiGene will post -5.13 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Xiaobin Wu sold 1,459 shares of BeiGene stock in a transaction dated Monday, June 24th. The shares were 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 is available at the SEC website. In other news, COO Xiaobin Wu sold 1,459 shares of the firm’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 value of $233,133.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Lai Wang sold 1,064 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $159.80, for a total value of $170,027.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,210 shares of company stock valued at $3,270,351. 7.43% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BeiGene

Large investors have recently modified their holdings of the stock. Raymond James & Associates lifted its holdings in BeiGene by 0.4% during the 2nd quarter. Raymond James & Associates now owns 21,275 shares of the company’s stock worth $3,035,000 after purchasing an additional 76 shares during the last quarter. Truist Financial Corp boosted its position in shares of BeiGene by 10.1% in the second quarter. Truist Financial Corp now owns 1,521 shares of the company’s stock valued at $217,000 after acquiring an additional 140 shares during the period. Parkwood LLC boosted its position in shares of BeiGene by 3.0% in the fourth quarter. Parkwood LLC now owns 6,464 shares of the company’s stock valued at $1,166,000 after acquiring an additional 191 shares during the period. ProShare Advisors LLC grew its stake in shares of BeiGene by 8.1% in the first quarter. ProShare Advisors LLC now owns 2,902 shares of the company’s stock valued at $454,000 after acquiring an additional 217 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its position in BeiGene by 51.5% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 821 shares of the company’s stock worth $128,000 after acquiring an additional 279 shares during the period. 48.55% of the stock is owned by institutional investors.

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.