FY2024 EPS Estimates for BeiGene Lowered by Leerink Partnrs

BeiGene, Ltd. (NASDAQ:BGNE) – Stock analysts at Leerink Partnrs decreased their FY2024 earnings per share estimates for shares of BeiGene in a research note issued on Tuesday, November 12th. Leerink Partnrs analyst A. Berens now forecasts that the company will earn ($5.98) per share for the year, down from their prior estimate of ($5.69). The consensus estimate for BeiGene’s current full-year earnings is ($5.00) per share. Leerink Partnrs also issued estimates for BeiGene’s Q4 2024 earnings at ($1.30) EPS.

BeiGene (NASDAQ:BGNE) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($1.15) EPS for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.04). BeiGene had a negative net margin of 25.94% and a negative return on equity of 25.12%. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $983.26 million. During the same period last year, the firm earned $2.01 EPS. The firm’s revenue for the quarter was up 28.2% compared to the same quarter last year.

Several other equities analysts have also issued reports on the company. JMP Securities assumed 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. Citigroup boosted their target price on BeiGene from $269.00 to $288.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. StockNews.com upgraded shares of BeiGene from a “hold” rating to a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. upped their price objective on shares of BeiGene from $200.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Finally, TD Cowen raised their target price on shares of BeiGene from $254.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $247.07.

BeiGene Price Performance

Shares of NASDAQ:BGNE opened at $189.23 on Friday. The company has a current ratio of 1.93, a quick ratio of 1.75 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $18.43 billion, a PE ratio of -22.96 and a beta of 0.63. The firm has a 50 day moving average of $212.95 and a 200-day moving average of $181.80. BeiGene has a 12 month low of $126.97 and a 12 month high of $248.16.

Insider Buying and Selling at BeiGene

In other news, COO Xiaobin Wu sold 5,556 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $189.65, for a total transaction of $1,053,695.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Titus B. Ball sold 137 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $189.94, for a total value of $26,021.78. 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.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Blue Trust Inc. increased its holdings in BeiGene by 156.3% in the third quarter. Blue Trust Inc. now owns 123 shares of the company’s stock worth $28,000 after purchasing an additional 75 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of BeiGene during the 3rd quarter worth approximately $36,000. Headlands Technologies LLC acquired a new stake in shares of BeiGene during the 1st quarter worth approximately $50,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of BeiGene in the 3rd quarter valued at $67,000. Finally, SG Americas Securities LLC acquired a new position in shares of BeiGene during the 3rd quarter valued at $105,000. 48.55% of the stock is owned by 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.