BeiGene, Ltd. (NASDAQ:BGNE) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of BeiGene, Ltd. (NASDAQ:BGNE) have been given a consensus recommendation of “Moderate Buy” by the ten ratings firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $279.39.

A number of research firms have recently issued reports on BGNE. JPMorgan Chase & Co. boosted their target price on BeiGene from $297.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, August 7th. 51job reissued a “downgrade” rating on shares of BeiGene in a report on Friday, June 30th. 3M reissued a “downgrade” rating on shares of BeiGene in a report on Friday, June 30th. Sanford C. Bernstein lowered BeiGene from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $335.00 to $196.00 in a report on Friday, June 30th. Finally, Citigroup initiated coverage on BeiGene in a report on Monday, July 17th. They issued a “buy” rating and a $275.00 target price on the stock.

BeiGene Price Performance

Shares of NASDAQ BGNE opened at $201.85 on Thursday. The company has a current ratio of 3.13, a quick ratio of 2.90 and a debt-to-equity ratio of 0.05. BeiGene has a twelve month low of $124.46 and a twelve month high of $280.62. The stock has a 50 day moving average of $197.79 and a two-hundred day moving average of $218.49. The stock has a market cap of $19.52 billion, a P/E ratio of -12.12 and a beta of 0.71.

BeiGene (NASDAQ:BGNE) last issued its quarterly earnings data on Wednesday, August 2nd. The company reported ($3.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($3.47) by ($0.17). The firm had revenue of $595.30 million during the quarter, compared to analysts’ expectations of $501.07 million. BeiGene had a negative net margin of 95.67% and a negative return on equity of 40.78%. BeiGene’s quarterly revenue was up 74.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($5.56) EPS. On average, research analysts forecast that BeiGene will post -12.54 earnings per share for the current year.

Insiders Place Their Bets

In other BeiGene news, major shareholder Advisors Ltd. Hhlr sold 1,250,212 shares of the business’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $195.21, for a total value of $244,053,884.52. Following the transaction, the insider now owns 144,086,369 shares in the company, valued at $28,127,100,092.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Chan Henry Lee sold 791 shares of the company’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $216.26, for a total transaction of $171,061.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Advisors Ltd. Hhlr sold 1,250,212 shares of the stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $195.21, for a total value of $244,053,884.52. Following the sale, the insider now owns 144,086,369 shares of the company’s stock, valued at approximately $28,127,100,092.49. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,530,549 shares of company stock worth $302,156,616. 7.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On BeiGene

Several large investors have recently added to or reduced their stakes in BGNE. E Fund Management Hong Kong Co. Ltd. grew its position in BeiGene by 137.7% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 27,501 shares of the company’s stock worth $5,071,000 after acquiring an additional 15,929 shares during the last quarter. Raymond James & Associates boosted its position in BeiGene by 24.9% in the 1st quarter. Raymond James & Associates now owns 15,273 shares of the company’s stock valued at $2,880,000 after buying an additional 3,047 shares during the last quarter. Bank of New York Mellon Corp boosted its position in BeiGene by 0.6% in the 1st quarter. Bank of New York Mellon Corp now owns 55,199 shares of the company’s stock valued at $10,409,000 after buying an additional 308 shares during the last quarter. American Century Companies Inc. boosted its position in BeiGene by 7.9% in the 1st quarter. American Century Companies Inc. now owns 3,458 shares of the company’s stock valued at $652,000 after buying an additional 254 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in BeiGene by 19.7% in the 1st quarter. Bank of Montreal Can now owns 14,571 shares of the company’s stock valued at $3,001,000 after buying an additional 2,396 shares during the last quarter. Institutional investors and hedge funds own 48.55% of the company’s stock.

About BeiGene

BeiGene, Ltd., a biotechnology company, develops and commercializes oncology medicines worldwide. Its products include BRUKINSA to treat various blood cancers; Tislelizumab to treat various solid tumor and blood cancers; REVLIMID to treat multiple myeloma; VIDAZA to treat myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia; 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; SYLVANT to treat idiopathic multicentric castleman disease; QARZIBA to treat neuroblastoma; Pamiparib for the treatment of various solid tumor malignancies; and Pobevcy to treat metastatic colorectal cancer, liver cancer, and non-small cell lung cancer (NSCLC).