BeiGene (NASDAQ:BGNE) Coverage Initiated at StockNews.com

StockNews.com started coverage on shares of BeiGene (NASDAQ:BGNE) in a research report sent to investors on Saturday morning. The brokerage issued a hold rating on the stock.

Several other research analysts have also recently issued reports on BGNE. JPMorgan Chase & Co. lifted their target price on shares of BeiGene from $200.00 to $235.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. JMP Securities started coverage on shares of BeiGene in a report on Wednesday, September 18th. They issued a “market outperform” rating and a $288.00 price objective for the company. Morgan Stanley reiterated an “overweight” rating and set a $300.00 target price on shares of BeiGene in a research note on Tuesday, December 3rd. Finally, TD Cowen boosted their price target on BeiGene from $254.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $253.69.

BeiGene Price Performance

The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.72 and a current ratio of 1.93. The company has a market cap of $18.03 billion, a PE ratio of -22.42 and a beta of 0.57. The stock has a 50 day moving average of $194.32 and a 200 day moving average of $188.98. BeiGene has a 12-month low of $126.97 and a 12-month high of $248.16.

BeiGene (NASDAQ:BGNE) last released its earnings results on Tuesday, November 12th. The company reported ($1.15) EPS for the quarter, missing the consensus estimate of ($1.11) by ($0.04). BeiGene had a negative return on equity of 25.12% and a negative net margin of 25.94%. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $983.26 million. During the same period last year, the firm posted $2.01 earnings per share. The company’s revenue was up 28.2% compared to the same quarter last year. On average, equities analysts anticipate that BeiGene will post -5.64 EPS for the current year.

Insider Buying and Selling at BeiGene

In other news, insider Xiaodong Wang sold 40,468 shares of the company’s stock in a transaction dated 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 is available at this hyperlink. Also, Director Bros. Advisors Lp Baker sold 1,037,017 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $187.27, for a total transaction of $194,202,173.59. Following the completion of the transaction, the director now directly owns 791,493 shares in the company, valued at approximately $148,222,894.11. The trade was a 56.71 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,119,245 shares of company stock worth $209,700,084. Insiders own 7.43% of the company’s stock.

Institutional Investors Weigh In On BeiGene

A number of hedge funds have recently modified their holdings of BGNE. 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 in the last quarter. FMR LLC raised its stake in shares of BeiGene by 0.8% in the third quarter. FMR LLC now owns 1,660,011 shares of the company’s stock worth $372,689,000 after buying an additional 12,855 shares during the period. Point72 Asset Management L.P. lifted its position 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of BeiGene by 160.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 225,854 shares of the company’s stock valued at $50,706,000 after acquiring an additional 138,978 shares during the period. Finally, Affinity Asset Advisors LLC increased its holdings in BeiGene by 33.9% in the 2nd quarter. Affinity Asset Advisors LLC now owns 110,000 shares of the company’s stock worth $15,694,000 after acquiring an additional 27,857 shares in the last quarter. 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.