StockNews.com Initiates Coverage on BeiGene (NASDAQ:BGNE)

Analysts at StockNews.com began coverage on shares of BeiGene (NASDAQ:BGNE) in a research report issued on Tuesday. The brokerage set a “hold” rating on the stock.

Several other analysts have also recently commented on the company. Morgan Stanley reiterated an “overweight” rating and issued a $300.00 target price on shares of BeiGene in a report on Tuesday, December 3rd. TD Cowen upped their price objective on shares of BeiGene from $254.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, 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. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $253.69.

BeiGene Stock Performance

The company has a current ratio of 1.93, a quick ratio of 1.72 and a debt-to-equity ratio of 0.05. BeiGene has a fifty-two week low of $126.97 and a fifty-two week high of $248.16. The firm has a market capitalization of $18.03 billion, a price-to-earnings ratio of -22.42 and a beta of 0.57. The business’s 50 day simple moving average is $194.32 and its two-hundred day simple moving average is $188.98.

BeiGene (NASDAQ:BGNE) last announced its earnings results on Tuesday, November 12th. The company reported ($1.15) EPS for the quarter, missing the consensus estimate of ($1.11) by ($0.04). The company had revenue of $1 billion for the quarter, compared to analyst estimates of $983.26 million. BeiGene had a negative return on equity of 25.12% and a negative net margin of 25.94%. The firm’s quarterly revenue was up 28.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.01 earnings per share. Sell-side analysts forecast that BeiGene will post -5.64 EPS for the current year.

Insider Buying and Selling at BeiGene

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

Institutional Trading of BeiGene

Several institutional investors have recently made changes to their positions in BGNE. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in BeiGene by 160.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 225,854 shares of the company’s stock worth $50,706,000 after purchasing an additional 138,978 shares during the last quarter. Citigroup Inc. boosted its stake in shares of BeiGene by 25.9% in the 3rd quarter. Citigroup Inc. now owns 26,312 shares of the company’s stock worth $5,907,000 after buying an additional 5,410 shares during the last quarter. Baillie Gifford & Co. boosted its stake in shares of BeiGene by 0.6% in the 3rd quarter. Baillie Gifford & Co. now owns 3,705,756 shares of the company’s stock worth $831,979,000 after buying an additional 23,807 shares during the last quarter. Capstone Investment Advisors LLC bought a new position in shares of BeiGene in the third quarter valued at approximately $1,192,000. Finally, China Universal Asset Management Co. Ltd. increased its position in shares of BeiGene by 69.4% during the third quarter. China Universal Asset Management Co. Ltd. now owns 8,510 shares of the company’s stock valued at $1,911,000 after acquiring an additional 3,486 shares during the last quarter. 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.