BeiGene (NASDAQ:BGNE) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of BeiGene (NASDAQ:BGNE) from a hold rating to a buy rating in a research report sent to investors on Wednesday.

BGNE has been the topic of a number of other reports. TD Cowen upped their target price on shares of BeiGene from $254.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. upped their price objective on BeiGene from $200.00 to $235.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. JMP Securities initiated coverage on BeiGene in a research note on Wednesday, September 18th. They set a “market outperform” rating and a $288.00 target price for the company. Finally, Citigroup boosted their target price on BeiGene from $269.00 to $288.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $247.07.

BeiGene Stock Down 2.1 %

NASDAQ:BGNE opened at $189.23 on Wednesday. BeiGene has a twelve month low of $126.97 and a twelve month high of $248.16. The firm has a market capitalization of $18.43 billion, a price-to-earnings ratio of -22.96 and a beta of 0.63. The company has a quick ratio of 1.75, a current ratio of 1.93 and a debt-to-equity ratio of 0.05. The stock’s 50 day moving average price is $212.91 and its two-hundred day moving average price is $182.03.

BeiGene (NASDAQ:BGNE) last issued its earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.04). The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $983.26 million. BeiGene had a negative return on equity of 25.12% and a negative net margin of 25.94%. BeiGene’s quarterly revenue was up 28.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.01 earnings per share. Equities research analysts expect that BeiGene will post -5 earnings per share for the current fiscal year.

Insider Buying and Selling

In other BeiGene news, CEO John Oyler sold 6,175 shares of the firm’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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Xiaobin Wu sold 5,556 shares of BeiGene stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $189.65, for a total value of $1,053,695.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,070 shares of company stock valued at $4,901,050. Insiders own 7.43% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Blue Trust Inc. lifted its position in BeiGene by 156.3% during the third 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 acquired a new position in shares of BeiGene in the 3rd quarter valued at approximately $36,000. Headlands Technologies LLC bought a new stake in shares of BeiGene during the 1st quarter worth approximately $50,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of BeiGene during the 3rd quarter worth approximately $67,000. Finally, SG Americas Securities LLC acquired a new stake in shares of BeiGene during the 3rd quarter worth approximately $105,000. Institutional investors 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.