BeiGene (NASDAQ:BGNE) Upgraded to “Buy” at StockNews.com

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

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

BeiGene Trading Up 0.9 %

BGNE traded up $1.81 during midday trading on Wednesday, reaching $195.45. 281,526 shares of the company’s stock traded hands, compared to its average volume of 265,109. The firm has a fifty day moving average of $212.91 and a two-hundred day moving average of $181.72. BeiGene has a 52 week low of $126.97 and a 52 week high of $248.16. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.98 and a quick ratio of 1.75. The stock has a market capitalization of $19.04 billion, a price-to-earnings ratio of -23.72 and a beta of 0.63.

BeiGene (NASDAQ:BGNE) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($1.15) EPS for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.04). The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $983.26 million. BeiGene had a negative return on equity of 25.15% and a negative net margin of 25.94%. The business’s revenue for the quarter was up 28.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.01 earnings per share. On average, equities analysts anticipate that BeiGene will post -5 earnings per share for the current fiscal year.

Insider Buying and Selling at BeiGene

In other BeiGene news, COO Xiaobin Wu sold 5,556 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $189.65, for a total value of $1,053,695.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other BeiGene news, CEO John Oyler sold 6,175 shares of the company’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $232.22, for a total value of $1,433,958.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Xiaobin Wu sold 5,556 shares of BeiGene stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $189.65, for a total value of $1,053,695.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,070 shares of company stock worth $4,901,050. 7.43% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Capital International Investors lifted its stake in BeiGene by 11.5% during the first quarter. Capital International Investors now owns 7,064,428 shares of the company’s stock worth $1,104,806,000 after purchasing an additional 727,556 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in BeiGene during the 2nd quarter valued at about $54,412,000. M&G Plc purchased a new position in BeiGene during the 1st quarter valued at about $29,649,000. Connor Clark & Lunn Investment Management Ltd. grew its position in BeiGene by 160.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 225,854 shares of the company’s stock valued at $50,706,000 after acquiring an additional 138,978 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in BeiGene by 6.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,026,094 shares of the company’s stock worth $316,862,000 after buying an additional 117,905 shares during the period. Institutional investors and hedge funds own 48.55% of the company’s stock.

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.