BeiGene (NASDAQ:BGNE) Price Target Cut to $152.50

BeiGene (NASDAQ:BGNE) had its price target cut by equities researchers at Bank of America from $180.00 to $152.50 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Bank of America‘s price objective would indicate a potential upside of 4.42% from the stock’s previous close.

A number of other brokerages have also recently issued reports on BGNE. 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. Sanford C. Bernstein lowered their target price on shares of BeiGene from $196.00 to $161.00 and set a “market perform” rating on the stock in a report on Wednesday, March 27th. Finally, TD Cowen raised their target price on shares of BeiGene from $236.00 to $254.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, BeiGene has an average rating of “Moderate Buy” and an average target price of $250.75.

BeiGene Price Performance

BGNE opened at $146.04 on Tuesday. The company has a quick ratio of 1.84, a current ratio of 2.08 and a debt-to-equity ratio of 0.06. BeiGene has a 12 month low of $126.97 and a 12 month high of $225.23. The company has a fifty day simple moving average of $156.60 and a 200 day simple moving average of $157.74. The stock has a market cap of $14.15 billion, a P/E ratio of -19.29 and a beta of 0.59.

BeiGene (NASDAQ:BGNE) last announced its earnings results on Wednesday, May 8th. The company reported ($2.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($3.07) by $0.66. BeiGene had a negative net margin of 28.39% and a negative return on equity of 21.70%. The firm had revenue of $751.70 million during the quarter, compared to analyst estimates of $670.09 million. During the same period in the prior year, the business earned ($3.34) EPS. The company’s revenue for the quarter was up 67.9% compared to the same quarter last year. On average, research analysts expect that BeiGene will post -8.2 EPS for the current year.

Insider Buying and Selling

In related news, CFO Julia Aijun Wang sold 472 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $143.90, for a total transaction of $67,920.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO John Oyler sold 2,789 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $159.58, for a total value of $445,068.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Julia Aijun Wang sold 472 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $143.90, for a total transaction of $67,920.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,683 shares of company stock worth $1,056,089. 7.43% of the stock is owned by insiders.

Institutional Investors Weigh In On BeiGene

Institutional investors have recently made changes to their positions in the business. Headlands Technologies LLC purchased a new stake in shares of BeiGene in the 1st quarter valued at $50,000. Benjamin F. Edwards & Company Inc. purchased a new stake in BeiGene during the 4th quarter valued at $98,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in BeiGene during the 4th quarter valued at $183,000. Clear Harbor Asset Management LLC purchased a new stake in BeiGene during the 4th quarter valued at $208,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in BeiGene in the 4th quarter worth $215,000. Hedge funds and other 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.