BeiGene, Ltd. (NASDAQ:BGNE) Receives $247.07 Consensus Price Target from Brokerages

BeiGene, Ltd. (NASDAQ:BGNE) has been assigned an average rating of “Moderate Buy” from the seven brokerages that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $247.07.

Several research firms have issued reports on BGNE. StockNews.com downgraded BeiGene from a “buy” rating to a “hold” rating in a research report on Thursday, November 21st. 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. TD Cowen raised their price objective on shares of BeiGene from $254.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. JMP Securities assumed coverage on shares of BeiGene in a research report on Wednesday, September 18th. They set a “market outperform” rating and a $288.00 price target for the company. Finally, Citigroup upped 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.

BeiGene Trading Down 4.3 %

Shares of BGNE stock opened at $205.75 on Friday. The firm has a market capitalization of $20.04 billion, a P/E ratio of -24.97 and a beta of 0.63. BeiGene has a twelve month low of $126.97 and a twelve month high of $248.16. The company has a quick ratio of 1.72, a current ratio of 1.93 and a debt-to-equity ratio of 0.05. The stock’s fifty day simple moving average is $212.51 and its 200 day simple moving average is $185.01.

BeiGene (NASDAQ:BGNE) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.11) by ($0.04). The business had revenue of $1 billion during the quarter, compared to analyst estimates of $983.26 million. BeiGene had a negative net margin of 25.94% and a negative return on equity of 25.12%. The business’s revenue for the quarter was up 28.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.01 EPS. As a group, sell-side analysts predict that BeiGene will post -5.38 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Xiaodong Wang sold 40,468 shares of BeiGene stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $190.10, for a total transaction of $7,692,966.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Chan Henry Lee sold 1,202 shares of BeiGene stock in a transaction on Monday, September 30th. The shares were 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. Insiders have sold 57,845 shares of company stock valued at $11,514,300 over the last ninety days. 7.43% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Baillie Gifford & Co. lifted its position in BeiGene by 0.6% during the third quarter. Baillie Gifford & Co. now owns 3,705,756 shares of the company’s stock valued at $831,979,000 after purchasing an additional 23,807 shares during the period. FMR LLC raised its stake in BeiGene by 0.8% during the 3rd quarter. FMR LLC now owns 1,660,011 shares of the company’s stock valued at $372,689,000 after buying an additional 12,855 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of BeiGene by 74.9% during the 3rd quarter. Point72 Asset Management L.P. now owns 667,166 shares of the company’s stock valued at $149,785,000 after buying an additional 285,784 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of BeiGene by 160.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 225,854 shares of the company’s stock worth $50,706,000 after buying an additional 138,978 shares during the last quarter. Finally, TD Asset Management Inc grew its holdings in shares of BeiGene by 1.4% in the second quarter. TD Asset Management Inc now owns 114,378 shares of the company’s stock worth $16,318,000 after acquiring an additional 1,599 shares during the period. 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.