TD Cowen Forecasts Strong Price Appreciation for BeiGene (NASDAQ:BGNE) Stock

BeiGene (NASDAQ:BGNE) had its price objective lifted by research analysts at TD Cowen from $254.00 to $260.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. TD Cowen’s price objective indicates a potential upside of 32.21% from the company’s previous close.

Other analysts have also issued research reports about the company. JPMorgan Chase & Co. increased their target price on BeiGene from $200.00 to $235.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. JMP Securities started coverage on shares of BeiGene in a report on Wednesday, September 18th. They set a “market outperform” rating and a $288.00 price objective for the company. Finally, Citigroup upped their target price on shares of BeiGene from $269.00 to $288.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $247.07.

BeiGene Trading Up 1.6 %

Shares of BGNE traded up $3.02 during midday trading on Wednesday, hitting $196.66. The stock had a trading volume of 124,357 shares, compared to its average volume of 264,371. BeiGene has a 1 year low of $126.97 and a 1 year 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’s 50 day moving average is $212.67 and its 200 day moving average is $181.34. The firm has a market cap of $19.15 billion, a PE ratio of -23.87 and a beta of 0.63.

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 the consensus estimate of ($1.11) by ($0.04). BeiGene had a negative net margin of 16.91% and a negative return on equity of 14.93%. 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 firm earned $2.01 EPS. The firm’s quarterly revenue was up 28.2% on a year-over-year basis. As a group, 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 firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $189.94, for a total value of $26,021.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Titus B. Ball sold 137 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $189.94, for a total transaction of $26,021.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Chan Henry Lee sold 1,202 shares of the business’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $237.10, for a total value of $284,994.20. The disclosure for this sale can be found here. Insiders have sold a total of 23,070 shares of company stock valued at $4,901,050 over the last quarter. 7.43% of the stock is owned by corporate insiders.

Institutional Trading of BeiGene

Several large investors have recently made changes to their positions in the company. Blue Trust Inc. raised its position in BeiGene by 156.3% in the third quarter. Blue Trust Inc. now owns 123 shares of the company’s stock valued at $28,000 after purchasing an additional 75 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in shares of BeiGene in the 3rd quarter valued at about $36,000. Headlands Technologies LLC acquired a new position in BeiGene during the first quarter worth approximately $50,000. SG Americas Securities LLC acquired a new stake in BeiGene during the 3rd quarter worth $105,000. Finally, PFG Investments LLC purchased a new position in BeiGene during the 3rd quarter worth $210,000. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

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.