BeiGene (NASDAQ:BGNE) PT Lowered to $285.00

BeiGene (NASDAQ:BGNE) had its target price reduced by stock analysts at Citigroup from $290.00 to $285.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price target indicates a potential upside of 67.20% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley lowered their price objective on BeiGene from $321.00 to $319.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 29th. Sanford C. Bernstein lowered BeiGene from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $335.00 to $196.00 in a report on Friday, June 30th. 51job reiterated a “downgrade” rating on shares of BeiGene in a research report on Friday, June 30th. StockNews.com raised shares of BeiGene from a “sell” rating to a “hold” rating in a report on Tuesday, October 3rd. Finally, Royal Bank of Canada assumed coverage on shares of BeiGene in a research report on Tuesday, September 12th. They issued an “outperform” rating and a $259.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, BeiGene presently has a consensus rating of “Moderate Buy” and a consensus target price of $273.08.

BeiGene Stock Performance

NASDAQ:BGNE opened at $170.45 on Thursday. The business’s fifty day moving average is $188.14 and its 200 day moving average is $207.58. The firm has a market cap of $16.54 billion, a price-to-earnings ratio of -10.23 and a beta of 0.74. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.90 and a current ratio of 3.13. BeiGene has a 52-week low of $156.56 and a 52-week high of $280.62.

BeiGene (NASDAQ:BGNE) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported ($3.64) earnings per share (EPS) 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 return on equity of 40.78% and a negative net margin of 95.67%. The company’s quarterly revenue was up 74.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($5.56) earnings per share. Research analysts predict that BeiGene will post -13.18 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Chan Henry Lee sold 791 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $216.26, for a total value of $171,061.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 7.40% of the company’s stock.

Institutional Investors Weigh In On BeiGene

Large investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in BeiGene during the 1st quarter valued at about $25,000. Toronto Dominion Bank bought a new stake in BeiGene in the first quarter valued at $27,000. Ronald Blue Trust Inc. increased its position in BeiGene by 302.4% during the 1st quarter. Ronald Blue Trust Inc. now owns 169 shares of the company’s stock valued at $37,000 after purchasing an additional 127 shares during the period. Headlands Technologies LLC bought a new position in BeiGene in the 2nd quarter worth $40,000. Finally, PNC Financial Services Group Inc. raised its holdings in BeiGene by 26.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 244 shares of the company’s stock worth $54,000 after purchasing an additional 51 shares in the last quarter. Institutional investors own 48.55% of the company’s stock.

BeiGene Company Profile

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).