BeiGene (NASDAQ:BGNE) Shares Gap Down – What’s Next?

Shares of BeiGene, Ltd. (NASDAQ:BGNE) gapped down prior to trading on Monday . The stock had previously closed at $236.10, but opened at $228.73. BeiGene shares last traded at $225.32, with a volume of 96,668 shares trading hands.

Analysts Set New Price Targets

BGNE has been the topic of several recent research reports. Citigroup upped their target price on shares of BeiGene from $269.00 to $288.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Bank of America cut their target price on shares of BeiGene from $180.00 to $152.50 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. JPMorgan Chase & Co. lifted their price target on shares of BeiGene from $194.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Finally, JMP Securities assumed coverage on shares of BeiGene in a research report on Wednesday, September 18th. They issued a “market outperform” rating and a $288.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $241.21.

BeiGene Price Performance

The company has a market capitalization of $21.57 billion, a PE ratio of -29.41 and a beta of 0.62. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.98 and a quick ratio of 1.75. The company’s 50 day simple moving average is $205.15 and its 200 day simple moving average is $172.25.

BeiGene (NASDAQ:BGNE) last posted its earnings results on Wednesday, August 7th. The company reported ($1.15) EPS for the quarter, beating analysts’ consensus estimates of ($2.27) by $1.12. BeiGene had a negative net margin of 16.91% and a negative return on equity of 14.93%. The firm had revenue of $929.20 million for the quarter, compared to the consensus estimate of $810.34 million. During the same period last year, the firm posted ($3.64) EPS. The company’s revenue was up 56.1% on a year-over-year basis. As a group, sell-side analysts predict that BeiGene, Ltd. will post -5.07 earnings per share for the current year.

Insider Transactions at BeiGene

In related news, CEO John Oyler sold 6,175 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $232.22, for a total transaction of $1,433,958.50. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CEO John Oyler sold 6,175 shares of the company’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $232.22, for a total value of $1,433,958.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Chan Henry Lee sold 1,202 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $237.10, for a total transaction of $284,994.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,904 shares of company stock worth $5,034,965. Corporate insiders own 7.43% of the company’s stock.

Institutional Investors Weigh In On BeiGene

Institutional investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC purchased a new position in shares of BeiGene during the 1st quarter worth approximately $50,000. SG Americas Securities LLC purchased a new position in BeiGene in the third quarter worth $105,000. Benjamin F. Edwards & Company Inc. boosted its position in shares of BeiGene by 51.5% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 821 shares of the company’s stock worth $128,000 after purchasing an additional 279 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of BeiGene by 204.1% during the 1st quarter. Acadian Asset Management LLC now owns 1,265 shares of the company’s stock worth $197,000 after purchasing an additional 849 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. purchased a new position in shares of BeiGene in the 1st quarter valued at about $209,000. Hedge funds and other 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.