BeiGene (NASDAQ:BGNE) Shares Gap Up – Here’s Why

BeiGene, Ltd. (NASDAQ:BGNE) shares gapped up before the market opened on Friday . The stock had previously closed at $212.39, but opened at $222.35. BeiGene shares last traded at $218.97, with a volume of 34,996 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BGNE. Bank of America reduced their price target on shares of BeiGene from $180.00 to $152.50 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. JPMorgan Chase & Co. lifted their target price on shares of BeiGene from $194.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Citigroup boosted their target price on shares of BeiGene from $269.00 to $288.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Finally, JMP Securities started coverage on BeiGene in a research note on Wednesday, September 18th. They issued a “market outperform” rating and a $288.00 price target on the stock. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, BeiGene presently has an average rating of “Moderate Buy” and a consensus target price of $241.21.

BeiGene Trading Up 3.1 %

The company has a quick ratio of 1.75, a current ratio of 1.98 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $21.22 billion, a PE ratio of -28.93 and a beta of 0.62. The stock’s fifty day simple moving average is $207.37 and its 200 day simple moving average is $173.43.

BeiGene (NASDAQ:BGNE) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($1.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.27) by $1.12. BeiGene had a negative net margin of 16.91% and a negative return on equity of 14.93%. The firm had revenue of $929.20 million during the quarter, compared to the consensus estimate of $810.34 million. During the same quarter in the previous year, the firm posted ($3.64) EPS. The company’s revenue for the quarter was up 56.1% compared to the same quarter last year. On average, sell-side analysts predict that BeiGene, Ltd. will post -5.07 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Chan Henry Lee sold 834 shares of BeiGene stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $160.57, for a total transaction of $133,915.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Chan Henry Lee sold 834 shares of the firm’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $160.57, for a total transaction of $133,915.38. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO John Oyler sold 6,175 shares of the company’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $232.22, for a total transaction of $1,433,958.50. The disclosure for this sale can be found here. Insiders sold a total of 23,904 shares of company stock worth $5,034,965 over the last quarter. 7.43% of the stock is currently owned by corporate insiders.

Institutional Trading of BeiGene

Several institutional investors have recently made changes to their positions in the business. Blue Trust Inc. boosted its stake in BeiGene by 156.3% in the 3rd quarter. Blue Trust Inc. now owns 123 shares of the company’s stock worth $28,000 after purchasing an additional 75 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of BeiGene during the third quarter worth $36,000. Headlands Technologies LLC purchased a new position in BeiGene during the first quarter valued at $50,000. SG Americas Securities LLC bought a new stake in BeiGene in the 3rd quarter valued at $105,000. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in 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 purchasing an additional 279 shares in 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.