BeiGene (NASDAQ:BGNE) Research Coverage Started at JMP Securities

JMP Securities started coverage on shares of BeiGene (NASDAQ:BGNE) in a report released on Wednesday, MarketBeat reports. The brokerage issued a market outperform rating and a $288.00 price target on the stock.

A number of other brokerages also recently issued reports on BGNE. Bank of America reduced their price target on BeiGene from $180.00 to $152.50 and set a neutral rating on the stock in a research report on Tuesday, July 9th. JPMorgan Chase & Co. upped their price objective on shares of BeiGene from $194.00 to $200.00 and gave the company an overweight rating in a report on Tuesday, August 20th. Finally, Citigroup upped their target price on BeiGene from $269.00 to $288.00 and gave the company a buy rating in a research report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $241.21.

BeiGene Trading Up 1.7 %

NASDAQ:BGNE opened at $201.99 on Wednesday. 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 50-day simple moving average of $182.24 and a 200-day simple moving average of $164.45. BeiGene has a one year low of $126.97 and a one year high of $215.00. The firm has a market cap of $19.57 billion, a P/E ratio of -26.68 and a beta of 0.61.

BeiGene (NASDAQ:BGNE) last posted its earnings results on Wednesday, August 7th. The company reported ($1.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.27) by $1.12. The company had revenue of $929.20 million during the quarter, compared to analyst estimates of $810.34 million. BeiGene had a negative return on equity of 14.93% and a negative net margin of 16.91%. BeiGene’s revenue was up 56.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($3.64) earnings per share. Equities analysts anticipate that BeiGene will post -5.13 EPS for the current fiscal year.

Insider Buying and Selling at BeiGene

In other BeiGene news, COO Xiaobin Wu sold 1,459 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $159.79, for a total value of $233,133.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO Xiaobin Wu sold 1,459 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $159.79, for a total transaction of $233,133.61. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Julia Aijun Wang sold 472 shares of BeiGene stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $143.90, for a total value of $67,920.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,210 shares of company stock valued at $3,270,351. 7.43% of the stock is owned by insiders.

Hedge Funds Weigh In On BeiGene

A number of large investors have recently added to or reduced their stakes in the stock. Partners Capital Investment Group LLP purchased a new position in BeiGene in the 4th quarter valued at about $2,762,000. Swedbank AB acquired a new stake in shares of BeiGene in the first quarter worth approximately $2,596,000. AIA Group Ltd increased its position in shares of BeiGene by 38.9% during the first quarter. AIA Group Ltd now owns 18,497 shares of the company’s stock worth $2,893,000 after purchasing an additional 5,181 shares in the last quarter. M&G Plc purchased a new stake in shares of BeiGene during the first quarter worth approximately $29,649,000. Finally, Van ECK Associates Corp raised its stake in BeiGene by 8.9% in the 2nd quarter. Van ECK Associates Corp now owns 95,577 shares of the company’s stock valued at $13,636,000 after purchasing an additional 7,816 shares during the last quarter. 48.55% of the stock is currently owned by institutional investors and hedge funds.

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.