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

StockNews.com upgraded shares of BeiGene (NASDAQ:BGNE) from a hold rating to a buy rating in a research report sent to investors on Wednesday.

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

BeiGene Stock Down 2.1 %

Shares of NASDAQ BGNE opened at $189.23 on Wednesday. BeiGene has a 12-month low of $126.97 and a 12-month high of $248.16. The firm’s 50-day simple moving average is $212.91 and its 200 day simple moving average is $182.03. The company has a quick ratio of 1.75, a current ratio of 1.93 and a debt-to-equity ratio of 0.05. The company has a market cap of $18.43 billion, a price-to-earnings ratio of -22.96 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 analysts’ consensus estimates of ($1.11) by ($0.04). The company had revenue of $1 billion for the quarter, compared to analyst estimates of $983.26 million. BeiGene had a negative return on equity of 25.12% and a negative net margin of 25.94%. BeiGene’s revenue for the quarter was up 28.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.01 earnings per share. On average, research analysts expect that BeiGene will post -5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related 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 legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John Oyler sold 6,175 shares of the firm’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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,070 shares of company stock worth $4,901,050. Insiders own 7.43% of the company’s stock.

Hedge Funds Weigh In On BeiGene

Several institutional investors and hedge funds have recently modified their holdings of BGNE. Capital International Investors increased its holdings in BeiGene by 11.5% during the 1st 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. Baillie Gifford & Co. raised its position in BeiGene by 0.6% in the 3rd quarter. Baillie Gifford & Co. now owns 3,705,756 shares of the company’s stock valued at $831,979,000 after buying an additional 23,807 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in 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 acquiring an additional 117,905 shares in the last quarter. FMR LLC boosted its position in BeiGene by 0.8% during the 3rd quarter. FMR LLC now owns 1,660,011 shares of the company’s stock worth $372,689,000 after acquiring an additional 12,855 shares during the last quarter. Finally, Capital International Inc. CA grew its stake in shares of BeiGene by 6.0% during the 1st quarter. Capital International Inc. CA now owns 858,364 shares of the company’s stock worth $134,240,000 after acquiring an additional 48,615 shares in the last quarter. 48.55% of the stock is currently owned by institutional investors and hedge funds.

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.