BeiGene (NASDAQ:BGNE) Shares Gap Up to $130.94

BeiGene, Ltd. (NASDAQ:BGNE) gapped up prior to trading on Tuesday . The stock had previously closed at $130.94, but opened at $135.75. BeiGene shares last traded at $141.07, with a volume of 36,287 shares.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on BGNE shares. TD Cowen increased their price target on BeiGene from $235.00 to $236.00 and gave the stock a “buy” rating in a report on Wednesday. Guggenheim dropped their price objective on BeiGene from $350.00 to $345.00 and set a “buy” rating on the stock in a research note on Tuesday, February 27th. Sanford C. Bernstein dropped their price objective on BeiGene from $196.00 to $161.00 and set a “market perform” rating on the stock in a research note on Wednesday, March 27th. Bank of America dropped their price objective on BeiGene from $179.30 to $164.30 and set a “neutral” rating on the stock in a research note on Monday, April 8th. Finally, JPMorgan Chase & Co. increased their price objective on BeiGene from $184.00 to $186.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, BeiGene has a consensus rating of “Moderate Buy” and an average target price of $250.13.

BeiGene Price Performance

The company has a current ratio of 2.32, a quick ratio of 2.09 and a debt-to-equity ratio of 0.06. The firm has a market cap of $13.78 billion, a P/E ratio of -16.96 and a beta of 0.61. The firm has a 50-day simple moving average of $154.68 and a 200-day simple moving average of $167.53.

BeiGene (NASDAQ:BGNE) last posted its quarterly earnings data on Monday, February 26th. The company reported ($3.53) earnings per share for the quarter, topping analysts’ consensus estimates of ($3.61) by $0.08. The firm had revenue of $634.40 million during the quarter, compared to analysts’ expectations of $632.52 million. BeiGene had a negative return on equity of 23.12% and a negative net margin of 35.86%. The business’s quarterly revenue was up 66.9% on a year-over-year basis. During the same quarter last year, the firm earned ($4.29) EPS. As a group, analysts forecast that BeiGene, Ltd. will post -8.87 EPS for the current year.

Insider Transactions at BeiGene

In other news, CEO John Oyler sold 37,668 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $164.02, for a total value of $6,178,305.36. Following the completion of the sale, the chief executive officer now owns 12,332 shares of the company’s stock, valued at approximately $2,022,694.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Julia Aijun Wang sold 397 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $167.08, for a total value of $66,330.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John Oyler sold 37,668 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $164.02, for a total value of $6,178,305.36. Following the completion of the transaction, the chief executive officer now owns 12,332 shares of the company’s stock, valued at approximately $2,022,694.64. The disclosure for this sale can be found here. Insiders sold 64,781 shares of company stock valued at $10,222,381 in the last quarter. 7.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BeiGene

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in BeiGene by 57.4% in the 3rd quarter. Wellington Management Group LLP now owns 55,478 shares of the company’s stock worth $9,979,000 after acquiring an additional 20,239 shares during the last quarter. XY Capital Ltd raised its stake in BeiGene by 1,205.3% in the 3rd quarter. XY Capital Ltd now owns 15,416 shares of the company’s stock worth $2,773,000 after acquiring an additional 14,235 shares during the last quarter. FMR LLC raised its stake in shares of BeiGene by 3.0% during the 3rd quarter. FMR LLC now owns 2,352,730 shares of the company’s stock valued at $423,186,000 after buying an additional 69,297 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of BeiGene by 53.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 46,682 shares of the company’s stock valued at $8,397,000 after buying an additional 16,295 shares during the last quarter. Finally, TD Asset Management Inc raised its stake in shares of BeiGene by 91.9% during the 3rd quarter. TD Asset Management Inc now owns 100,256 shares of the company’s stock valued at $18,033,000 after buying an additional 48,018 shares during the last quarter. Hedge funds and other institutional investors own 48.55% of the company’s stock.

BeiGene Company Profile

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.