BeiGene (NASDAQ:BGNE) Hits New 52-Week High – Still a Buy?

BeiGene, Ltd. (NASDAQ:BGNE)’s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $248.16 and last traded at $245.99, with a volume of 31298 shares. The stock had previously closed at $233.64.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on BGNE shares. JPMorgan Chase & Co. boosted their price objective on shares of BeiGene from $194.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Bank of America cut their price target on BeiGene from $180.00 to $152.50 and set a “neutral” rating for the company in a report on Tuesday, July 9th. JMP Securities began coverage on BeiGene in a research note on Wednesday, September 18th. They set a “market outperform” rating and a $288.00 price target on the stock. Finally, Citigroup lifted their price objective on BeiGene from $269.00 to $288.00 and gave the company 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 company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $241.21.

BeiGene Stock Performance

The stock’s fifty day simple moving average is $193.54 and its two-hundred day simple moving average is $167.83. The company has a market cap of $23.91 billion, a price-to-earnings ratio of -32.60 and a beta of 0.61. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.98.

BeiGene (NASDAQ:BGNE) last issued its earnings results on Wednesday, August 7th. The company reported ($1.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.27) by $1.12. The firm had revenue of $929.20 million for the quarter, compared to analysts’ expectations of $810.34 million. BeiGene had a negative return on equity of 14.93% and a negative net margin of 16.91%. The firm’s revenue for the quarter was up 56.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($3.64) earnings per share. Equities research analysts anticipate that BeiGene, Ltd. will post -5.13 EPS for the current year.

Insider Buying and Selling

In related news, 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 transaction of $284,994.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, SVP Chan Henry Lee sold 1,202 shares of the business’s 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 the SEC website. Also, insider Lai Wang sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $220.35, for a total value of $1,101,750.00. Following the completion of the transaction, the insider now owns 920,920 shares of the company’s stock, valued at approximately $202,924,722. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,729 shares of company stock valued at $3,601,007. 7.43% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BeiGene

A number of institutional investors have recently added to or reduced their stakes in BGNE. SG Americas Securities LLC acquired a new position in shares of BeiGene in the third quarter worth about $105,000. Sanctuary Advisors LLC acquired a new position in shares of BeiGene in the 2nd quarter valued at approximately $1,038,000. Truist Financial Corp boosted its stake in shares of BeiGene by 10.1% during the 2nd quarter. Truist Financial Corp now owns 1,521 shares of the company’s stock valued at $217,000 after buying an additional 140 shares during the last quarter. Driehaus Capital Management LLC acquired a new stake in shares of BeiGene during the second quarter worth approximately $1,168,000. Finally, The Manufacturers Life Insurance Company increased its stake in shares of BeiGene by 8.4% in the second quarter. The Manufacturers Life Insurance Company now owns 50,262 shares of the company’s stock worth $7,171,000 after buying an additional 3,915 shares during the last quarter. Institutional investors and hedge funds 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.