BeiGene (NASDAQ:BGNE) Posts Earnings Results

BeiGene (NASDAQ:BGNE) released its quarterly earnings data on Wednesday. The company reported ($2.41) EPS for the quarter, topping analysts’ consensus estimates of ($3.07) by $0.66, Briefing.com reports. BeiGene had a negative return on equity of 23.12% and a negative net margin of 35.86%. The business had revenue of $751.70 million during the quarter, compared to the consensus estimate of $670.09 million. During the same period in the prior year, the firm posted ($3.34) EPS. The business’s revenue for the quarter was up 67.9% on a year-over-year basis.

BeiGene Stock Up 1.9 %

Shares of BeiGene stock traded up $3.20 during trading hours on Thursday, hitting $167.64. 72,702 shares of the company’s stock traded hands, compared to its average volume of 250,556. The company has a quick ratio of 2.09, a current ratio of 2.32 and a debt-to-equity ratio of 0.06. BeiGene has a twelve month low of $126.97 and a twelve month high of $246.82. The stock has a 50 day simple moving average of $154.92 and a 200-day simple moving average of $166.53. The company has a market cap of $16.03 billion, a PE ratio of -19.67 and a beta of 0.63.

Insider Activity at BeiGene

In other BeiGene news, CFO Julia Aijun Wang sold 397 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $167.08, for a total transaction of $66,330.76. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Julia Aijun Wang sold 397 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $167.08, for a total transaction of $66,330.76. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO John Oyler sold 37,668 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $164.02, for a total value of $6,178,305.36. Following the sale, the chief executive officer now owns 12,332 shares of the company’s stock, valued at approximately $2,022,694.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 64,781 shares of company stock valued at $10,222,381. Insiders own 7.40% of the company’s stock.

Wall Street Analysts Forecast Growth

BGNE has been the subject of several research analyst reports. Sanford C. Bernstein dropped their price target on BeiGene from $196.00 to $161.00 and set a “market perform” rating for the company in a research note on Wednesday, March 27th. JPMorgan Chase & Co. raised their price target on shares of BeiGene from $184.00 to $186.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Bank of America decreased their price objective on shares of BeiGene from $179.30 to $164.30 and set a “neutral” rating for the company in a research note on Monday, April 8th. Guggenheim cut their target price on shares of BeiGene from $350.00 to $345.00 and set a “buy” rating on the stock in a research note on Tuesday, February 27th. Finally, TD Cowen upped their price target on shares of BeiGene from $236.00 to $254.00 and gave the stock a “buy” rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $251.93.

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.