Leerink Partnrs Has Bullish Forecast for BeiGene Q3 Earnings

BeiGene, Ltd. (NASDAQ:BGNE) – Stock analysts at Leerink Partnrs upped their Q3 2024 EPS estimates for shares of BeiGene in a research note issued on Monday, October 28th. Leerink Partnrs analyst A. Berens now expects that the company will earn ($1.12) per share for the quarter, up from their previous forecast of ($1.23). The consensus estimate for BeiGene’s current full-year earnings is ($5.07) per share. Leerink Partnrs also issued estimates for BeiGene’s Q4 2024 earnings at ($1.02) EPS, FY2024 earnings at ($5.69) EPS, FY2025 earnings at $0.79 EPS, FY2026 earnings at $8.34 EPS and FY2027 earnings at $13.86 EPS.

A number of other research firms also recently weighed in on BGNE. JMP Securities started coverage on BeiGene in a research report on Wednesday, September 18th. They set a “market outperform” rating and a $288.00 target price for the company. Bank of America dropped their price objective on BeiGene from $180.00 to $152.50 and set a “neutral” rating for the company in a report on Tuesday, July 9th. JPMorgan Chase & Co. upped their target price on shares of BeiGene from $200.00 to $235.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Finally, Citigroup lifted their price target on shares of BeiGene from $269.00 to $288.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $246.21.

BeiGene Stock Performance

BGNE stock opened at $202.64 on Wednesday. The company has a 50 day moving average price of $211.25 and a 200 day moving average price of $177.18. BeiGene has a fifty-two week low of $126.97 and a fifty-two week high of $248.16. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.98 and a quick ratio of 1.75. The stock has a market capitalization of $19.64 billion, a PE ratio of -26.77 and a beta of 0.62.

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. BeiGene had a negative net margin of 16.91% and a negative return on equity of 14.93%. The company had revenue of $929.20 million for the quarter, compared to analyst estimates of $810.34 million. During the same period in the prior year, the business earned ($3.64) earnings per share. BeiGene’s quarterly revenue was up 56.1% on a year-over-year basis.

Insider Transactions at BeiGene

In related news, SVP Chan Henry Lee sold 1,202 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $237.10, for a total value of $284,994.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other BeiGene news, CEO John Oyler sold 6,175 shares of BeiGene stock in a transaction dated 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 can be accessed through this link. Also, SVP Chan Henry Lee sold 1,202 shares of the stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $237.10, for a total value of $284,994.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,070 shares of company stock worth $4,901,050. 7.43% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BeiGene

Several institutional investors have recently modified their holdings of the business. Blue Trust Inc. raised its holdings in BeiGene by 156.3% during the 3rd quarter. Blue Trust Inc. now owns 123 shares of the company’s stock worth $28,000 after buying an additional 75 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of BeiGene during the third quarter worth $36,000. Headlands Technologies LLC acquired a new stake in shares of BeiGene during the first quarter worth $50,000. SG Americas Securities LLC bought a new stake in BeiGene in the 3rd quarter valued at $105,000. Finally, PFG Investments LLC acquired a new position in BeiGene in the 3rd quarter worth $210,000. 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.