BeiGene (NASDAQ:BGNE) Stock Price Down 3.7%

BeiGene, Ltd. (NASDAQ:BGNEGet Free Report)’s share price was down 3.7% during mid-day trading on Tuesday . The stock traded as low as $151.64 and last traded at $153.24. Approximately 60,680 shares traded hands during trading, a decline of 74% from the average daily volume of 229,469 shares. The stock had previously closed at $159.15.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on BGNE shares. Bank of America dropped their target price on shares of BeiGene from $179.30 to $164.30 and set a “neutral” rating for the company in a research report on Monday, April 8th. JPMorgan Chase & Co. lifted their target price on BeiGene from $184.00 to $186.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. Sanford C. Bernstein decreased their target price on BeiGene from $196.00 to $161.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 27th. TD Cowen raised their price target on BeiGene from $236.00 to $254.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Finally, Guggenheim lowered their target price on BeiGene from $350.00 to $345.00 and set a “buy” rating for the company in a research report on Tuesday, February 27th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $251.93.

Check Out Our Latest Stock Analysis on BeiGene

BeiGene Stock Performance

The company has a debt-to-equity ratio of 0.06, a current ratio of 2.08 and a quick ratio of 1.84. The company has a 50-day simple moving average of $155.76 and a 200 day simple moving average of $160.45.

BeiGene (NASDAQ:BGNEGet Free Report) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($2.41) EPS for the quarter, topping the consensus estimate of ($3.07) by $0.66. The company had revenue of $751.70 million for the quarter, compared to the consensus estimate of $670.09 million. BeiGene had a negative net margin of 28.39% and a negative return on equity of 21.70%. The firm’s revenue was up 67.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($3.34) EPS. On average, equities analysts expect that BeiGene, Ltd. will post -8.2 EPS for the current fiscal year.

Insider Activity

In other BeiGene news, CEO John Oyler sold 26,716 shares of the company’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $148.89, for a total value of $3,977,745.24. Following the completion of the sale, the chief executive officer now directly owns 12,084 shares in the company, valued at approximately $1,799,186.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 7.43% of the company’s stock.

Hedge Funds Weigh In On BeiGene

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Capital International Investors grew its stake in BeiGene by 11.5% in the first quarter. Capital International Investors now owns 7,064,428 shares of the company’s stock valued at $1,104,806,000 after purchasing an additional 727,556 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of BeiGene by 6.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,026,094 shares of the company’s stock valued at $316,862,000 after buying an additional 117,905 shares in the last quarter. Capital International Inc. CA grew its position in shares of BeiGene by 6.0% in the 1st quarter. Capital International Inc. CA now owns 858,364 shares of the company’s stock worth $134,240,000 after buying an additional 48,615 shares during the last quarter. First Trust Advisors LP bought a new position in shares of BeiGene during the 4th quarter worth approximately $39,632,000. Finally, Goldman Sachs Group Inc. lifted its position in BeiGene by 175.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 214,339 shares of the company’s stock valued at $38,658,000 after acquiring an additional 136,458 shares during the last quarter. 48.55% of the stock is currently owned by institutional investors.

About BeiGene

(Get Free Report)

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.

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