Several other equities research analysts also recently weighed in on the company. Maxim Group set a $170.00 price target on Beigene and gave the stock a buy rating in a report on Friday, August 9th. Macquarie started coverage on Beigene in a report on Friday, July 5th. They issued an underperform rating for the company. Cowen restated a buy rating and issued a $170.00 price objective on shares of Beigene in a research note on Wednesday, October 16th. Zacks Investment Research upgraded Beigene from a hold rating to a strong-buy rating and set a $133.00 price objective for the company in a research note on Wednesday, October 9th. Finally, Morgan Stanley reduced their price objective on Beigene from $201.00 to $200.00 and set an overweight rating for the company in a research note on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $178.50.
Shares of BGNE stock opened at $132.28 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 6.46 and a quick ratio of 6.28. The company has a market cap of $6.33 billion, a P/E ratio of -10.89 and a beta of 0.99. The stock’s 50-day moving average is $128.46 and its 200 day moving average is $129.07. Beigene has a 1-year low of $105.19 and a 1-year high of $164.99.
Beigene (NASDAQ:BGNE) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($1.43) earnings per share for the quarter, topping the consensus estimate of ($3.01) by $1.58. The business had revenue of $243.35 million during the quarter, compared to the consensus estimate of $65.58 million. Beigene had a negative return on equity of 38.41% and a negative net margin of 153.32%. The company’s quarterly revenue was up 360.8% on a year-over-year basis. During the same quarter last year, the company earned ($2.92) earnings per share. On average, analysts anticipate that Beigene will post -10.98 EPS for the current year.
In other Beigene news, Director Timothy Yung-Cheng Chen sold 8,614 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $144.96, for a total transaction of $1,248,685.44. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CMO Jane Huang sold 2,500 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $134.74, for a total value of $336,850.00. Following the transaction, the chief marketing officer now directly owns 328,873 shares in the company, valued at approximately $44,312,348.02. The disclosure for this sale can be found here. Insiders have sold 24,106 shares of company stock worth $3,361,842 in the last three months. 13.40% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the company. Capital Investment Advisory Services LLC purchased a new stake in shares of Beigene in the 2nd quarter valued at $26,000. Ladenburg Thalmann Financial Services Inc. raised its holdings in shares of Beigene by 24.8% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 443 shares of the company’s stock valued at $55,000 after buying an additional 88 shares during the period. Riverhead Capital Management LLC raised its holdings in shares of Beigene by 28.6% in the 2nd quarter. Riverhead Capital Management LLC now owns 450 shares of the company’s stock valued at $56,000 after buying an additional 100 shares during the period. Marshall Wace North America L.P. purchased a new stake in shares of Beigene in the 1st quarter valued at $76,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Beigene by 1,500.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 592 shares of the company’s stock valued at $73,000 after buying an additional 555 shares during the period.
Beigene Company Profile
BeiGene, Ltd., a commercial-stage biotechnology company, develops and commercializes molecularly-targeted and immuno-oncology drugs for the treatment of cancer in the People's Republic of China, the United States, and internationally. Its commercial products include ABRAXANE, a chemotherapy product for the treatment of breast, non-small cell lung, pancreatic, and gastric cancers; REVLIMID, an oral immunomodulatory drug for the treatment of multiple myeloma in combination with dexamethasone; and VIDAZA, a pyrimidine nucleoside analog for the treatment of intermediate-2 and myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia with 20% to 30% blasts and multi-lineage dysplasia.
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