BeiGene (NASDAQ:BGNE) Given New $236.00 Price Target at TD Cowen

BeiGene (NASDAQ:BGNE) had its price target raised by TD Cowen from $235.00 to $236.00 in a report issued on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also weighed in on BGNE. Bank of America reduced their target price on shares of BeiGene from $179.30 to $164.30 and set a neutral rating for the company in a research note on Monday, April 8th. JPMorgan Chase & Co. boosted their price target on shares of BeiGene from $184.00 to $186.00 and gave the stock an overweight rating in a research report on Tuesday, March 19th. Sanford C. Bernstein cut their price target on shares of BeiGene from $196.00 to $161.00 and set a market perform rating on the stock in a research report on Wednesday, March 27th. Finally, Guggenheim cut their price target on shares of BeiGene from $350.00 to $345.00 and set a buy rating on the stock in a research report on Tuesday, February 27th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, BeiGene currently has a consensus rating of Moderate Buy and a consensus target price of $250.13.

BeiGene Price Performance

Shares of NASDAQ BGNE opened at $153.58 on Wednesday. The firm has a market cap of $14.69 billion, a PE ratio of -18.07 and a beta of 0.61. The company has a current ratio of 2.32, a quick ratio of 2.09 and a debt-to-equity ratio of 0.06. BeiGene has a 1-year low of $126.97 and a 1-year high of $266.67. The company has a fifty day moving average price of $154.84 and a 200 day moving average price of $167.20.

BeiGene (NASDAQ:BGNE) last announced its earnings results on Monday, February 26th. The company reported ($3.53) earnings per share for the quarter, topping analysts’ consensus estimates of ($3.61) by $0.08. The firm had revenue of $634.40 million during the quarter, compared to analyst estimates of $632.52 million. BeiGene had a negative net margin of 35.86% and a negative return on equity of 23.12%. The company’s revenue for the quarter was up 66.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($4.29) EPS. Research analysts predict that BeiGene will post -8.87 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Julia Aijun Wang sold 397 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $167.08, for a total value of $66,330.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other BeiGene news, CEO John Oyler sold 26,716 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $148.89, for a total transaction 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 $1,799,186.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Julia Aijun Wang sold 397 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $167.08, for a total transaction of $66,330.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 64,781 shares of company stock valued at $10,222,381. 7.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On BeiGene

Several hedge funds have recently bought and sold shares of BGNE. Baillie Gifford & Co. lifted its position in BeiGene by 17.9% during the third quarter. Baillie Gifford & Co. now owns 3,871,598 shares of the company’s stock worth $696,384,000 after acquiring an additional 588,294 shares during the last quarter. Capital International Investors lifted its position in BeiGene by 4.7% during the fourth quarter. Capital International Investors now owns 6,336,872 shares of the company’s stock worth $1,142,636,000 after acquiring an additional 285,397 shares during the last quarter. First Trust Advisors LP acquired a new stake in BeiGene during the fourth quarter worth approximately $39,632,000. 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 worth $38,658,000 after acquiring an additional 136,458 shares during the last quarter. Finally, FMR LLC lifted its position in BeiGene by 3.0% during the third quarter. FMR LLC now owns 2,352,730 shares of the company’s stock worth $423,186,000 after acquiring an additional 69,297 shares during the last quarter. 48.55% of the stock is currently owned by institutional investors and hedge funds.

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.