Several other research firms have also issued reports on BGNE. Sanford C. Bernstein assumed coverage on Beigene in a research report on Tuesday, June 4th. They issued an outperform rating and a $201.00 price target for the company. Morgan Stanley cut their price objective on shares of Beigene from $207.00 to $201.00 and set an overweight rating on the stock in a research report on Monday, August 12th. Maxim Group set a $170.00 price objective on shares of Beigene and gave the company a buy rating in a research note on Friday, August 9th. Zacks Investment Research cut shares of Beigene from a strong-buy rating to a hold rating in a report on Tuesday, August 13th. Finally, Piper Jaffray Companies reaffirmed a buy rating on shares of Beigene in a report on Thursday, June 20th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Buy and a consensus price target of $181.28.
Shares of NASDAQ:BGNE opened at $127.45 on Friday. The stock has a fifty day simple moving average of $136.65 and a two-hundred day simple moving average of $130.82. The stock has a market capitalization of $5.73 billion, a price-to-earnings ratio of -10.49 and a beta of 1.01. Beigene has a 12-month low of $105.19 and a 12-month high of $179.57. The company has a current ratio of 6.46, a quick ratio of 6.28 and a debt-to-equity ratio of 0.15.
Beigene (NASDAQ:BGNE) last released its earnings results on Thursday, August 8th. The company reported ($1.43) EPS for the quarter, topping analysts’ consensus estimates of ($3.01) by $1.58. Beigene had a negative return on equity of 38.41% and a negative net margin of 153.32%. The firm had revenue of $243.35 million for the quarter, compared to analysts’ expectations of $65.58 million. During the same period in the prior year, the firm posted ($2.92) earnings per share. The company’s quarterly revenue was up 360.8% on a year-over-year basis. As a group, equities research analysts predict that Beigene will post -11.23 EPS for the current year.
In related news, insider Xiaodong Wang sold 4,847 shares of Beigene stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $126.46, for a total value of $612,951.62. Following the completion of the sale, the insider now directly owns 7,611,628 shares in the company, valued at approximately $962,566,476.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Howard Liang sold 5,876 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $9.47, for a total value of $55,645.72. Following the completion of the transaction, the chief financial officer now directly owns 122,317 shares of the company’s stock, valued at approximately $1,158,341.99. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,365 shares of company stock worth $4,478,041. Corporate insiders own 13.40% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of BGNE. Capital Investment Advisory Services LLC purchased a new stake in shares of Beigene during the 2nd quarter valued at about $26,000. Quadrant Capital Group LLC grew its stake in shares of Beigene by 131.8% in the first quarter. Quadrant Capital Group LLC now owns 364 shares of the company’s stock worth $47,000 after acquiring an additional 207 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its holdings in shares of Beigene by 24.8% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 443 shares of the company’s stock valued at $55,000 after purchasing an additional 88 shares during the last quarter. Riverhead Capital Management LLC raised its holdings in shares of Beigene by 28.6% during the second quarter. Riverhead Capital Management LLC now owns 450 shares of the company’s stock valued at $56,000 after purchasing an additional 100 shares during the last quarter. Finally, Marshall Wace North America L.P. purchased a new position in shares of Beigene during the first quarter valued at approximately $76,000.
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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