BeiGene (NASDAQ:BGNE) Posts Quarterly Earnings Results, Misses Estimates By $0.04 EPS

BeiGene (NASDAQ:BGNE) issued 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. The business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $983.26 million. BeiGene had a negative return on equity of 25.15% and a negative net margin of 25.94%. BeiGene’s revenue for the quarter was up 28.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.01 EPS.

BeiGene Stock Down 1.1 %

Shares of BGNE stock traded down $2.16 during trading hours on Thursday, hitting $193.29. 213,475 shares of the company’s stock traded hands, compared to its average volume of 264,875. The company has a quick ratio of 1.75, a current ratio of 1.98 and a debt-to-equity ratio of 0.06. The stock’s fifty day simple moving average is $212.91 and its two-hundred day simple moving average is $181.72. BeiGene has a 12-month low of $126.97 and a 12-month high of $248.16. The stock has a market cap of $18.83 billion, a price-to-earnings ratio of -23.68 and a beta of 0.63.

Insider Buying and Selling

In other BeiGene news, COO Xiaobin Wu sold 5,556 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $189.65, for a total transaction of $1,053,695.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Titus B. Ball sold 137 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $189.94, for a total transaction of $26,021.78. The disclosure for this sale can be found here. Insiders have sold 23,070 shares of company stock worth $4,901,050 in the last 90 days. Insiders own 7.43% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on BGNE shares. JMP Securities assumed coverage on shares of BeiGene in a research report on Wednesday, September 18th. They set a “market outperform” rating and a $288.00 price target for the company. StockNews.com raised BeiGene from a “hold” rating to a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their target price on shares of BeiGene from $200.00 to $235.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Citigroup increased their price target on shares of BeiGene from $269.00 to $288.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Finally, TD Cowen raised their price target on shares of BeiGene from $254.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, BeiGene currently has an average rating of “Moderate Buy” and an average target price of $247.07.

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.