TD Cowen Boosts BeiGene (NASDAQ:BGNE) Price Target to $236.00

BeiGene (NASDAQ:BGNE) had its price target boosted by stock analysts at TD Cowen from $235.00 to $236.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Cowen’s price target points to a potential upside of 58.86% from the stock’s previous close.

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

BeiGene Trading Up 3.1 %

Shares of BeiGene stock opened at $148.56 on Wednesday. The company has a fifty day simple moving average of $154.73 and a 200-day simple moving average of $167.40. BeiGene has a 12-month low of $126.97 and a 12-month high of $266.67. 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 market cap of $14.21 billion, a price-to-earnings ratio of -17.48 and a beta of 0.61.

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

Insider Buying and Selling

In other BeiGene 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 $2,022,694.64. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other BeiGene news, CEO John Oyler sold 37,668 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $164.02, for a total transaction of $6,178,305.36. Following the transaction, the chief executive officer now directly owns 12,332 shares in the company, valued at $2,022,694.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Julia Aijun Wang sold 397 shares of BeiGene stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $167.08, for a total transaction of $66,330.76. The disclosure for this sale can be found here. Insiders have sold 64,781 shares of company stock valued at $10,222,381 over the last quarter. Company insiders own 7.40% of the company’s stock.

Institutional Trading of BeiGene

A number of institutional investors have recently bought and sold shares of BGNE. Toronto Dominion Bank increased its position in shares of BeiGene by 166.4% in the third quarter. Toronto Dominion Bank now owns 333 shares of the company’s stock valued at $60,000 after buying an additional 208 shares in the last quarter. Knights of Columbus Asset Advisors LLC increased its holdings in 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 acquiring an additional 76 shares in the last quarter. Benjamin F. Edwards & Company Inc. acquired a new position in BeiGene during the fourth quarter worth about $98,000. PNC Financial Services Group Inc. lifted its holdings in shares of BeiGene by 123.9% in the third quarter. PNC Financial Services Group Inc. now owns 732 shares of the company’s stock valued at $132,000 after purchasing an additional 405 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of BeiGene in the fourth quarter valued at approximately $183,000. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

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.