BeiGene (NASDAQ:BGNE) Shares Gap Up to $130.94

BeiGene, Ltd. (NASDAQ:BGNE)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $130.94, but opened at $135.75. BeiGene shares last traded at $141.07, with a volume of 36,287 shares traded.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Guggenheim cut their price objective on BeiGene from $350.00 to $345.00 and set a “buy” rating for the company in a research report on Tuesday, February 27th. JPMorgan Chase & Co. increased their price target on BeiGene from $184.00 to $186.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Bank of America reduced their price target on BeiGene from $179.30 to $164.30 and set a “neutral” rating on the stock in a research note on Monday, April 8th. Finally, Sanford C. Bernstein reduced their price target on BeiGene from $196.00 to $161.00 and set a “market perform” rating on the stock in a research note on Wednesday, March 27th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $251.70.

BeiGene Stock Up 6.0 %

The company has a current ratio of 2.32, a quick ratio of 2.09 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $13.28 billion, a PE ratio of -16.60 and a beta of 0.61. The firm has a 50-day moving average of $154.77 and a two-hundred day moving average of $167.94.

BeiGene (NASDAQ:BGNE) last announced its quarterly earnings results on Monday, February 26th. The company reported ($3.53) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.61) by $0.08. BeiGene had a negative return on equity of 23.12% and a negative net margin of 35.86%. The firm had revenue of $634.40 million during the quarter, compared to the consensus estimate of $632.52 million. During the same period in the prior year, the firm earned ($4.29) EPS. The firm’s quarterly revenue was up 66.9% compared to the same quarter last year. On average, equities research analysts forecast that BeiGene, Ltd. will post -8.87 EPS for the current year.

Insider Activity at BeiGene

In related news, CEO John Oyler sold 37,668 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $164.02, for a total value of $6,178,305.36. Following the completion of the sale, the chief executive officer now directly owns 12,332 shares in the company, valued at approximately $2,022,694.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO John Oyler sold 37,668 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $164.02, for a total value of $6,178,305.36. Following the completion of the sale, the chief executive officer now directly owns 12,332 shares in the company, valued at approximately $2,022,694.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Julia Aijun Wang sold 397 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $167.08, for a total value of $66,330.76. The disclosure for this sale can be found here. In the last three months, insiders sold 64,781 shares of company stock worth $10,222,381. Corporate insiders own 7.40% of the company’s stock.

Institutional Investors Weigh In On BeiGene

Hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP raised its holdings in shares of BeiGene by 57.4% during the third quarter. Wellington Management Group LLP now owns 55,478 shares of the company’s stock valued at $9,979,000 after buying an additional 20,239 shares during the last quarter. XY Capital Ltd increased its stake in shares of BeiGene by 1,205.3% during the third quarter. XY Capital Ltd now owns 15,416 shares of the company’s stock valued at $2,773,000 after acquiring an additional 14,235 shares during the period. FMR LLC increased its stake in shares of BeiGene by 3.0% during the third quarter. FMR LLC now owns 2,352,730 shares of the company’s stock valued at $423,186,000 after acquiring an additional 69,297 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of BeiGene by 53.6% during the third quarter. Envestnet Asset Management Inc. now owns 46,682 shares of the company’s stock valued at $8,397,000 after acquiring an additional 16,295 shares during the period. Finally, TD Asset Management Inc increased its stake in shares of BeiGene by 91.9% during the third quarter. TD Asset Management Inc now owns 100,256 shares of the company’s stock valued at $18,033,000 after acquiring an additional 48,018 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.