BeiGene (NASDAQ:BGNE) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of BeiGene (NASDAQ:BGNE) in a report released on Saturday morning. The firm issued a hold rating on the stock.

Several other research analysts also recently commented on the stock. Morgan Stanley reissued an “overweight” rating and set a $300.00 price target on shares of BeiGene in a research note on Tuesday, December 3rd. TD Cowen lifted their target price on shares of BeiGene from $254.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. JMP Securities started coverage on shares of BeiGene in a research note on Wednesday, September 18th. They issued a “market outperform” rating and a $288.00 price target for the company. Finally, 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. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, BeiGene has a consensus rating of “Moderate Buy” and an average price target of $253.69.

BeiGene Stock Performance

The stock has a market capitalization of $18.03 billion, a price-to-earnings ratio of -22.42 and a beta of 0.57. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.93 and a quick ratio of 1.72. BeiGene has a 1 year low of $126.97 and a 1 year high of $248.16. The stock has a 50-day moving average of $194.32 and a two-hundred day moving average of $188.98.

BeiGene (NASDAQ:BGNE) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($1.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.04). The firm had revenue of $1 billion during the quarter, compared to analysts’ expectations of $983.26 million. BeiGene had a negative return on equity of 25.12% 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 company posted $2.01 earnings per share. On average, sell-side analysts forecast that BeiGene will post -5.64 EPS for the current fiscal year.

Insider Buying and Selling at BeiGene

In related news, Director Bros. Advisors Lp Baker sold 1,037,017 shares of BeiGene stock in a transaction on Monday, December 9th. The shares were sold at an average price of $187.27, for a total value of $194,202,173.59. Following the sale, the director now owns 791,493 shares in the company, valued at $148,222,894.11. The trade was a 56.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Xiaodong Wang sold 40,468 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $190.10, for a total transaction of $7,692,966.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,119,245 shares of company stock worth $209,700,084. 7.43% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BeiGene

Large investors have recently modified their holdings of the stock. Blue Trust Inc. raised its stake in BeiGene by 156.3% in the third quarter. Blue Trust Inc. now owns 123 shares of the company’s stock worth $28,000 after buying an additional 75 shares in the last quarter. Truist Financial Corp lifted its stake in shares of BeiGene by 10.1% in the 2nd quarter. Truist Financial Corp now owns 1,521 shares of the company’s stock valued at $217,000 after purchasing an additional 140 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of BeiGene in the 3rd quarter valued at approximately $36,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in BeiGene by 0.3% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 97,895 shares of the company’s stock worth $21,978,000 after purchasing an additional 266 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in BeiGene in the third quarter worth $67,000. 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.