StockNews.com Initiates Coverage on BeiGene (NASDAQ:BGNE)

Equities researchers at StockNews.com assumed coverage on shares of BeiGene (NASDAQ:BGNE) in a research report issued to clients and investors on Tuesday. The firm set a “hold” rating on the stock.

Other equities analysts also recently issued research reports about the stock. 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 research note on Tuesday, October 22nd. Morgan Stanley reiterated an “overweight” rating and issued a $300.00 price objective on shares of BeiGene in a research note on Tuesday, December 3rd. Finally, TD Cowen increased their target price on BeiGene from $254.00 to $260.00 and gave the stock a “buy” rating in a research report 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’s stock. Based on data from MarketBeat.com, BeiGene currently has a consensus rating of “Moderate Buy” and a consensus price target of $253.69.

BeiGene Stock Performance

The company has a current ratio of 1.93, a quick ratio of 1.72 and a debt-to-equity ratio of 0.05. The firm’s fifty day moving average price is $194.32 and its two-hundred day moving average price is $188.98. BeiGene has a twelve month low of $126.97 and a twelve month high of $248.16. The company has a market capitalization of $18.03 billion, a price-to-earnings ratio of -22.42 and a beta of 0.57.

BeiGene (NASDAQ:BGNE) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($1.15) earnings per share 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 firm had revenue of $1 billion during the quarter, compared to analysts’ expectations of $983.26 million. During the same period last year, the business posted $2.01 EPS. The company’s revenue was up 28.2% compared to the same quarter last year. Analysts forecast that BeiGene will post -5.64 EPS for the current year.

Insider Buying and Selling at BeiGene

In other BeiGene news, insider Xiaodong Wang sold 40,468 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $190.10, for a total value of $7,692,966.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Bros. Advisors Lp Baker sold 1,037,017 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $187.27, for a total value of $194,202,173.59. Following the transaction, the director now directly owns 791,493 shares of the company’s stock, valued at $148,222,894.11. The trade was a 56.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,119,245 shares of company stock valued at $209,700,084 in the last three months. Company insiders own 7.43% of the company’s stock.

Hedge Funds Weigh In On BeiGene

A number of institutional investors have recently made changes to their positions in BGNE. Point72 Asset Management L.P. grew its position in BeiGene by 74.9% in the third quarter. Point72 Asset Management L.P. now owns 667,166 shares of the company’s stock worth $149,785,000 after acquiring an additional 285,784 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in BeiGene by 160.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 225,854 shares of the company’s stock worth $50,706,000 after purchasing an additional 138,978 shares during the last quarter. Bellevue Group AG boosted its holdings in shares of BeiGene by 129.2% in the 3rd quarter. Bellevue Group AG now owns 58,729 shares of the company’s stock worth $13,185,000 after purchasing an additional 33,100 shares in the last quarter. XY Capital Ltd bought a new position in shares of BeiGene during the 3rd quarter valued at about $6,839,000. Finally, Baillie Gifford & Co. raised its holdings in shares of BeiGene by 0.6% during the 3rd quarter. Baillie Gifford & Co. now owns 3,705,756 shares of the company’s stock valued at $831,979,000 after buying an additional 23,807 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.