BeiGene (NASDAQ:BGNE) Shares Gap Up to $198.59

BeiGene, Ltd. (NASDAQ:BGNE) shares gapped up prior to trading on Friday . The stock had previously closed at $198.59, but opened at $205.67. BeiGene shares last traded at $205.86, with a volume of 17,652 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. JMP Securities assumed coverage on BeiGene in a research note on Wednesday. They set a “market outperform” rating and a $288.00 target price for the company. Bank of America decreased their target price on shares of BeiGene from $180.00 to $152.50 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Citigroup upped their price target on shares of BeiGene from $269.00 to $288.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. raised their price objective on shares of BeiGene from $194.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $241.21.

BeiGene Stock Up 1.7 %

The company has a current ratio of 1.98, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06. The firm has a 50 day moving average price of $182.24 and a 200-day moving average price of $164.48. The firm has a market cap of $19.57 billion, a price-to-earnings ratio of -26.68 and a beta of 0.61.

BeiGene (NASDAQ:BGNE) last announced its earnings results on Wednesday, August 7th. The company reported ($1.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.27) by $1.12. The company had revenue of $929.20 million during the quarter, compared to analysts’ expectations of $810.34 million. BeiGene had a negative net margin of 16.91% and a negative return on equity of 14.93%. The firm’s quarterly revenue was up 56.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($3.64) earnings per share. On average, equities analysts forecast that BeiGene, Ltd. will post -5.13 EPS for the current year.

Insider Activity at BeiGene

In other BeiGene news, COO Xiaobin Wu sold 4,500 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $200.14, for a total transaction of $900,630.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other BeiGene news, COO Xiaobin Wu sold 4,500 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $200.14, for a total transaction of $900,630.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Titus B. Ball sold 137 shares of BeiGene stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $189.94, for a total transaction of $26,021.78. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,210 shares of company stock valued at $3,270,351. 7.43% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BeiGene

Large investors have recently added to or reduced their stakes in the business. Raymond James & Associates grew its holdings in BeiGene by 0.4% in the second quarter. Raymond James & Associates now owns 21,275 shares of the company’s stock valued at $3,035,000 after purchasing an additional 76 shares during the period. Truist Financial Corp grew its stake in shares of BeiGene by 10.1% during the 2nd quarter. Truist Financial Corp now owns 1,521 shares of the company’s stock valued at $217,000 after buying an additional 140 shares during the period. Parkwood LLC grew its stake in shares of BeiGene by 3.0% during the 4th quarter. Parkwood LLC now owns 6,464 shares of the company’s stock valued at $1,166,000 after buying an additional 191 shares during the period. ProShare Advisors LLC increased its holdings in shares of BeiGene by 8.1% during the 1st quarter. ProShare Advisors LLC now owns 2,902 shares of the company’s stock worth $454,000 after buying an additional 217 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its position in shares of BeiGene by 51.5% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 821 shares of the company’s stock worth $128,000 after buying an additional 279 shares during the period. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

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.