BeiGene (NASDAQ:BGNE) Trading Up 4.3% After Analyst Upgrade

BeiGene, Ltd. (NASDAQ:BGNE) rose 4.3% during trading on Thursday after TD Cowen raised their price target on the stock from $235.00 to $236.00. TD Cowen currently has a buy rating on the stock. BeiGene traded as high as $150.38 and last traded at $150.34. Approximately 109,824 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 255,402 shares. The stock had previously closed at $144.12.

A number of other research analysts also recently issued reports on the company. JPMorgan Chase & Co. upped their price objective on BeiGene from $184.00 to $186.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Guggenheim reduced their price objective on BeiGene from $350.00 to $345.00 and set a “buy” rating for the company in a research note on Tuesday, February 27th. Bank of America reduced their price objective on BeiGene from $179.30 to $164.30 and set a “neutral” rating for the company in a research note on Monday, April 8th. Finally, Sanford C. Bernstein reduced their price objective on BeiGene from $196.00 to $161.00 and set a “market perform” rating for the company in a research note on Wednesday, March 27th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $250.13.

Insiders Place Their Bets

In other BeiGene news, CEO John Oyler sold 26,716 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $148.89, for a total value of $3,977,745.24. Following the completion of the transaction, the chief executive officer now owns 12,084 shares in the company, valued at approximately $1,799,186.76. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other BeiGene news, CFO Julia Aijun Wang sold 397 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $167.08, for a total value of $66,330.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO John Oyler sold 26,716 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $148.89, for a total value of $3,977,745.24. Following the completion of the sale, the chief executive officer now directly owns 12,084 shares in the company, valued at approximately $1,799,186.76. The disclosure for this sale can be found here. Insiders sold a total of 64,781 shares of company stock worth $10,222,381 in the last quarter. 7.40% of the stock is owned by company insiders.

Institutional Trading of BeiGene

Several institutional investors and hedge funds have recently modified their holdings of BGNE. Toronto Dominion Bank raised its holdings in shares of BeiGene by 166.4% in the 3rd quarter. Toronto Dominion Bank now owns 333 shares of the company’s stock valued at $60,000 after acquiring an additional 208 shares in the last quarter. Knights of Columbus Asset Advisors LLC raised its holdings in shares of BeiGene by 20.5% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 447 shares of the company’s stock valued at $80,000 after buying an additional 76 shares in the last quarter. Benjamin F. Edwards & Company Inc. purchased a new position in shares of BeiGene during the 4th quarter valued at about $98,000. PNC Financial Services Group Inc. raised its holdings in shares of BeiGene by 123.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 732 shares of the company’s stock valued at $132,000 after buying an additional 405 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of BeiGene during the 4th quarter valued at about $183,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.

BeiGene Trading Up 3.1 %

The company has a market capitalization of $14.21 billion, a PE ratio of -17.48 and a beta of 0.61. 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 stock has a fifty day moving average of $154.73 and a two-hundred day moving average of $167.40.

BeiGene (NASDAQ:BGNE) last announced its quarterly earnings data on Monday, February 26th. The company reported ($3.53) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.61) by $0.08. The company had revenue of $634.40 million for 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%. BeiGene’s revenue for the quarter was up 66.9% compared to the same quarter last year. During the same period last year, the firm posted ($4.29) EPS. As a group, sell-side analysts anticipate that BeiGene, Ltd. will post -8.87 earnings per share for the current fiscal year.

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.