BeiGene, Ltd. (NASDAQ:BGNE) to Post Q1 2024 Earnings of ($2.63) Per Share, Leerink Partnrs Forecasts

BeiGene, Ltd. (NASDAQ:BGNE) – Research analysts at Leerink Partnrs reduced their Q1 2024 earnings per share estimates for shares of BeiGene in a report issued on Wednesday, April 24th. Leerink Partnrs analyst A. Berens now forecasts that the company will earn ($2.63) per share for the quarter, down from their prior forecast of ($2.43). The consensus estimate for BeiGene’s current full-year earnings is ($8.93) per share. Leerink Partnrs also issued estimates for BeiGene’s Q2 2024 earnings at ($2.53) EPS, Q3 2024 earnings at ($2.31) EPS, Q4 2024 earnings at ($2.15) EPS, FY2024 earnings at ($9.61) EPS, FY2025 earnings at ($4.91) EPS, FY2026 earnings at $1.73 EPS and FY2027 earnings at $7.32 EPS.

Other analysts have also recently issued reports about the company. JPMorgan Chase & Co. increased their target price on BeiGene from $184.00 to $186.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Bank of America lowered their target price on BeiGene from $179.30 to $164.30 and set a “neutral” rating for the company in a research note on Monday, April 8th. Guggenheim lowered their target price on BeiGene from $350.00 to $345.00 and set a “buy” rating for the company in a research note on Tuesday, February 27th. TD Cowen increased their target price on BeiGene from $235.00 to $236.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Finally, Sanford C. Bernstein lowered their target price 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 investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $250.13.

BeiGene Stock Performance

Shares of BGNE stock opened at $153.58 on Monday. The stock has a 50-day moving average of $154.84 and a 200-day moving average of $167.09. BeiGene has a one year low of $126.97 and a one year high of $266.67. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.32 and a quick ratio of 2.09. The stock has a market cap of $14.69 billion, a PE ratio of -18.07 and a beta of 0.61.

BeiGene (NASDAQ:BGNE) last announced its quarterly earnings results on Monday, February 26th. The company reported ($3.53) EPS for the quarter, beating analysts’ consensus estimates of ($3.61) by $0.08. The company 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%. BeiGene’s revenue was up 66.9% on a year-over-year basis. During the same period in the prior year, the business posted ($4.29) EPS.

Insiders Place Their Bets

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

Institutional Investors Weigh In On BeiGene

Several large investors have recently made changes to their positions in BGNE. Capital International Investors lifted its holdings in BeiGene by 4.7% during the 4th quarter. Capital International Investors now owns 6,336,872 shares of the company’s stock valued at $1,142,636,000 after purchasing an additional 285,397 shares during the last quarter. Baillie Gifford & Co. lifted its holdings in BeiGene by 17.9% during the 3rd quarter. Baillie Gifford & Co. now owns 3,871,598 shares of the company’s stock valued at $696,384,000 after purchasing an additional 588,294 shares during the last quarter. FMR LLC lifted its holdings in 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 purchasing an additional 69,297 shares during the last quarter. First Trust Advisors LP acquired a new stake in BeiGene during the 4th quarter valued at $39,632,000. Finally, Goldman Sachs Group Inc. lifted its holdings in BeiGene by 175.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 214,339 shares of the company’s stock valued at $38,658,000 after purchasing an additional 136,458 shares during the last quarter. Institutional investors and hedge funds own 48.55% of the company’s stock.

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.