BeiGene (NASDAQ:BGNE) Stock Rating Upgraded by StockNews.com

BeiGene (NASDAQ:BGNE) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Wednesday.

A number of other research analysts have also recently weighed in on the company. Citigroup raised their price target on BeiGene from $269.00 to $288.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. upped their target price on BeiGene from $200.00 to $235.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. JMP Securities started coverage on BeiGene in a report on Wednesday, September 18th. They issued a “market outperform” rating and a $288.00 target price on the stock. Finally, TD Cowen upped their price target on BeiGene from $254.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $247.07.

BeiGene Stock Performance

BGNE traded up $1.81 on Wednesday, reaching $195.45. The company had a trading volume of 281,526 shares, compared to its average volume of 265,109. The stock has a 50-day moving average price of $212.91 and a 200-day moving average price of $181.72. The stock has a market capitalization of $19.04 billion, a PE ratio of -23.72 and a beta of 0.63. BeiGene has a 1 year low of $126.97 and a 1 year high of $248.16. The company has a quick ratio of 1.75, a current ratio of 1.98 and a debt-to-equity ratio of 0.06.

BeiGene (NASDAQ:BGNE) last announced its earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.04). BeiGene had a negative return on equity of 25.15% and a negative net margin of 25.94%. The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $983.26 million. During the same quarter last year, the business posted $2.01 earnings per share. The business’s revenue was up 28.2% on a year-over-year basis. As a group, research analysts forecast that BeiGene will post -5 EPS for the current fiscal year.

Insider Activity at BeiGene

In other news, insider Titus B. Ball sold 137 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $189.94, for a total transaction of $26,021.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other BeiGene news, insider Titus B. Ball sold 137 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $189.94, for a total transaction of $26,021.78. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Chan Henry Lee sold 1,202 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $237.10, for a total transaction of $284,994.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,070 shares of company stock valued at $4,901,050. Insiders own 7.43% of the company’s stock.

Hedge Funds Weigh In On BeiGene

Several institutional investors have recently modified their holdings of the company. Blue Trust Inc. boosted its position in shares of BeiGene by 156.3% during the third quarter. Blue Trust Inc. now owns 123 shares of the company’s stock worth $28,000 after buying an additional 75 shares during the period. Raymond James & Associates boosted its holdings in BeiGene by 0.4% during the second quarter. Raymond James & Associates now owns 21,275 shares of the company’s stock worth $3,035,000 after buying an additional 76 shares in the last quarter. Truist Financial Corp increased its holdings in shares of BeiGene by 10.1% in the second quarter. Truist Financial Corp now owns 1,521 shares of the company’s stock valued at $217,000 after buying an additional 140 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of BeiGene during the third quarter valued at $36,000. Finally, ProShare Advisors LLC increased its position in shares of BeiGene by 8.1% in the first quarter. ProShare Advisors LLC now owns 2,902 shares of the company’s stock worth $454,000 after acquiring an additional 217 shares in the last quarter. Institutional investors own 48.55% of the company’s stock.

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.