BeiGene (NASDAQ:BGNE) Issues Earnings Results

BeiGene (NASDAQ:BGNE) released its quarterly earnings results on Tuesday. The company reported ($1.15) earnings per share for the quarter, missing the consensus estimate of ($1.11) by ($0.04), Briefing.com reports. BeiGene had a negative net margin of 25.94% and a negative return on equity of 25.15%. The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $983.26 million. During the same period in the previous year, the company earned $2.01 earnings per share. BeiGene’s quarterly revenue was up 28.2% compared to the same quarter last year.

BeiGene Price Performance

Shares of BGNE traded down $2.16 during mid-day trading on Thursday, reaching $193.29. The stock had a trading volume of 213,475 shares, compared to its average volume of 264,875. The business has a fifty day moving average of $212.91 and a 200 day moving average of $181.72. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.98. The firm has a market cap of $18.83 billion, a price-to-earnings ratio of -23.68 and a beta of 0.63. BeiGene has a 12 month low of $126.97 and a 12 month high of $248.16.

Insider Activity

In related news, insider Titus B. Ball sold 137 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $189.94, for a total value of $26,021.78. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Xiaobin Wu sold 5,556 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $189.65, for a total transaction of $1,053,695.40. The disclosure for this sale can be found here. Insiders have sold 23,070 shares of company stock worth $4,901,050 in the last three months. Company insiders own 7.43% of the company’s stock.

Analyst Ratings Changes

BGNE has been the topic of a number of recent research reports. TD Cowen increased their target price on BeiGene from $254.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday. Citigroup upped their price target on shares of BeiGene from $269.00 to $288.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. StockNews.com raised shares of BeiGene from a “hold” rating to a “buy” rating in a report on Wednesday. JMP Securities started coverage on shares of BeiGene in a report on Wednesday, September 18th. They set a “market outperform” rating and a $288.00 target price for the company. Finally, JPMorgan Chase & Co. increased their price target on shares of BeiGene from $200.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $247.07.

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.