Several other equities analysts have also recently issued reports on the stock. Morgan Stanley reiterated an overweight rating and issued a $95.00 target price (up from $87.00) on shares of Beigene in a research note on Friday, October 6th. Maxim Group reiterated a buy rating and issued a $77.00 target price on shares of Beigene in a research note on Monday, September 11th. Zacks Investment Research cut shares of Beigene from a hold rating to a sell rating in a research note on Monday, November 13th. Robert W. Baird reiterated a neutral rating and issued a $83.00 target price (up from $58.00) on shares of Beigene in a research note on Tuesday, November 14th. Finally, BidaskClub upgraded shares of Beigene from a hold rating to a buy rating in a research note on Friday, January 5th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $96.67.
Beigene (NASDAQ BGNE) traded up $1.44 on Monday, hitting $103.28. 140,662 shares of the company traded hands, compared to its average volume of 180,956. The company has a debt-to-equity ratio of 0.20, a quick ratio of 9.27 and a current ratio of 9.33. Beigene has a 1 year low of $31.70 and a 1 year high of $118.95. The firm has a market cap of $4,700.00 and a PE ratio of -78.84.
Beigene (NASDAQ:BGNE) last posted its earnings results on Monday, November 13th. The company reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $2.31. The firm had revenue of $220.21 million during the quarter, compared to analyst estimates of $1.55 million. During the same quarter in the prior year, the firm earned ($1.08) earnings per share. analysts forecast that Beigene will post -2.04 earnings per share for the current fiscal year.
In related news, CMO Amy C. Peterson sold 3,601 shares of the business’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $82.96, for a total value of $298,738.96. Following the completion of the sale, the chief marketing officer now owns 1,201 shares of the company’s stock, valued at approximately $99,634.96. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO John Oyler sold 150,957 shares of the business’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $80.50, for a total transaction of $12,152,038.50. Following the completion of the sale, the chief executive officer now directly owns 491,891 shares of the company’s stock, valued at approximately $39,597,225.50. The disclosure for this sale can be found here. In the last three months, insiders sold 483,482 shares of company stock valued at $42,139,474. 19.90% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Belpointe Asset Management LLC purchased a new stake in shares of Beigene during the third quarter worth $1,642,000. California Public Employees Retirement System purchased a new stake in shares of Beigene during the third quarter worth $4,912,000. Perceptive Advisors LLC purchased a new stake in shares of Beigene during the third quarter worth $590,000. Orbimed Advisors LLC grew its holdings in shares of Beigene by 2.0% during the third quarter. Orbimed Advisors LLC now owns 1,313,788 shares of the company’s stock worth $135,925,000 after buying an additional 26,200 shares in the last quarter. Finally, Janus Henderson Group PLC purchased a new stake in shares of Beigene during the third quarter worth $33,744,000. 55.32% of the stock is owned by institutional investors and hedge funds.
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BeiGene, Ltd. is a clinical-stage biopharmaceutical company. The Company is focused in the discovery and development of molecularly targeted and immuno-oncology drugs for the treatment of cancer. The Company had used its cancer biology platform to develop four clinical-stage drug candidates, such as BGB-3111, BGB-A317, BGB-290 and BGB-283, as of December 31, 2016.
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