BeiGene (NASDAQ:BGNE) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of BeiGene (NASDAQ:BGNEGet Rating) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning, Zacks.com reports.

According to Zacks, “BeiGene, Ltd. is a biotechnology company which focused on immuno-oncological therapeutics. The company’s clinical-stage drug candidates include BGB-3111, BGB-283, BGB-290, and BGB-A317. BeiGene, Ltd. is based in Camana Bay, Cayman Islands. “

Several other equities analysts have also recently commented on BGNE. Deutsche Bank Aktiengesellschaft started coverage on BeiGene in a research note on Monday, February 7th. They set a buy rating for the company. Morgan Stanley upped their price target on BeiGene from $330.00 to $338.00 and gave the company an overweight rating in a research report on Tuesday, April 12th. StockNews.com began coverage on BeiGene in a research report on Thursday, March 31st. They set a sell rating on the stock. JPMorgan Chase & Co. began coverage on BeiGene in a research report on Thursday, January 13th. They set an overweight rating on the stock. Finally, SVB Leerink lowered BeiGene from an outperform rating to a market perform rating and dropped their price target for the company from $300.00 to $177.00 in a research report on Thursday, March 17th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Buy and an average target price of $281.25.

BeiGene stock opened at $143.68 on Tuesday. The stock has a market cap of $14.75 billion, a P/E ratio of -7.15 and a beta of 0.85. The company has a current ratio of 4.76, a quick ratio of 4.61 and a debt-to-equity ratio of 0.03. The stock has a 50 day moving average of $179.01 and a 200-day moving average of $245.90. BeiGene has a 52 week low of $131.03 and a 52 week high of $426.56.

BeiGene (NASDAQ:BGNEGet Rating) last released its earnings results on Thursday, May 5th. The company reported ($4.24) EPS for the quarter, missing the consensus estimate of ($4.12) by ($0.12). The business had revenue of $306.60 million for the quarter, compared to analysts’ expectations of $300.41 million. BeiGene had a negative net margin of 218.25% and a negative return on equity of 43.48%. The company’s quarterly revenue was down 49.4% on a year-over-year basis. As a group, equities analysts predict that BeiGene will post -15.66 earnings per share for the current fiscal year.

In other BeiGene news, COO Xiaobin Wu sold 6,725 shares of the stock in a transaction on Thursday, May 5th. The stock was sold at an average price of $164.35, for a total value of $1,105,253.75. The sale was disclosed in a document filed with the SEC, which is available through this link. 8.90% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. O Shaughnessy Asset Management LLC increased its position in BeiGene by 204.3% in the third quarter. O Shaughnessy Asset Management LLC now owns 70 shares of the company’s stock worth $25,000 after buying an additional 47 shares during the period. Pinebridge Investments L.P. acquired a new position in shares of BeiGene during the fourth quarter valued at $27,000. Koshinski Asset Management Inc. increased its holdings in shares of BeiGene by 139.6% during the first quarter. Koshinski Asset Management Inc. now owns 242 shares of the company’s stock valued at $46,000 after purchasing an additional 141 shares during the period. Assetmark Inc. increased its holdings in shares of BeiGene by 25.2% during the third quarter. Assetmark Inc. now owns 288 shares of the company’s stock valued at $105,000 after purchasing an additional 58 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in shares of BeiGene by 9.3% during the third quarter. PNC Financial Services Group Inc. now owns 553 shares of the company’s stock valued at $200,000 after purchasing an additional 47 shares during the period.

About BeiGene (Get Rating)

BeiGene, Ltd. discovers, develops, manufactures, and commercializes medicines for cancer therapeutics in the People's Republic of China, the United States, and internationally. Its products include BRUKINSA to treat relapsed/refractory (R/R) mantle cell lymphoma; Tislelizumab to treat R/R classical Hodgkin's lymphoma; REVLIMID to treat multiple myeloma; VIDAZA to treat myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia; XGEVA to treat giant cell tumor of bone; BLINCYTO to treat acute lymphoblastic leukemia; KYPROLIS to treat R/R multiple myeloma; SYLVANT to treat idiopathic multicentric castleman disease; QARZIBA to treat neuroblastoma; Pamiparib for the treatment of various solid tumors; and Pobevcy to treat metastatic colorectal cancer, liver cancer, and non-small cell lung cancer (NSCLC).

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