BeiGene (NASDAQ:BGNE) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of BeiGene (NASDAQ:BGNE) from a buy rating to a hold rating in a research note published on Thursday morning.

Other equities research analysts have also issued research reports about the stock. Citigroup raised their price target on shares of BeiGene from $269.00 to $288.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. TD Cowen raised their target price on BeiGene from $254.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. upped their price target on BeiGene from $200.00 to $235.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Finally, JMP Securities assumed coverage on BeiGene in a research report on Wednesday, September 18th. They issued a “market outperform” rating and a $288.00 price objective on the stock. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $247.07.

BeiGene Trading Down 2.1 %

Shares of BGNE stock opened at $190.51 on Thursday. The business has a 50-day moving average of $212.06 and a 200 day moving average of $183.12. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.93 and a quick ratio of 1.72. BeiGene has a 1-year low of $126.97 and a 1-year high of $248.16. The stock has a market capitalization of $18.56 billion, a PE ratio of -23.12 and a beta of 0.63.

BeiGene (NASDAQ:BGNE) last released its quarterly earnings data 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). 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 for the quarter, compared to analysts’ expectations of $983.26 million. During the same period last year, the company posted $2.01 EPS. The business’s revenue for the quarter was up 28.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that BeiGene will post -5.38 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Chan Henry Lee sold 1,202 shares of BeiGene stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $237.10, for a total transaction of $284,994.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO John Oyler sold 6,175 shares of the stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $232.22, for a total value of $1,433,958.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,070 shares of company stock worth $4,901,050. Company insiders own 7.43% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. XTX Topco Ltd purchased a new stake in BeiGene in the third quarter worth about $1,614,000. Quantinno Capital Management LP bought a new stake in shares of BeiGene in the 3rd quarter worth approximately $295,000. Point72 Asset Management L.P. grew its stake in shares of BeiGene by 74.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 667,166 shares of the company’s stock worth $149,785,000 after buying an additional 285,784 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in BeiGene during the 3rd quarter valued at approximately $67,000. Finally, Erste Asset Management GmbH purchased a new position in BeiGene during the third quarter valued at $4,478,000. 48.55% of the stock is owned by hedge funds and other 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.