BeiGene (NASDAQ:BGNE) Price Target Lowered to $161.00 at Sanford C. Bernstein

BeiGene (NASDAQ:BGNE) had its price target reduced by Sanford C. Bernstein from $196.00 to $161.00 in a research note released on Wednesday, Benzinga reports. They currently have a market perform rating on the stock.

Several other research firms have also recently commented on BGNE. Guggenheim reduced their target price on BeiGene from $350.00 to $345.00 and set a buy rating for the company in a research report on Tuesday, February 27th. JPMorgan Chase & Co. boosted their target price on BeiGene from $184.00 to $186.00 and gave the stock an overweight rating in a research report on Tuesday, March 19th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, BeiGene has a consensus rating of Moderate Buy and a consensus price target of $257.00.

BeiGene Price Performance

Shares of NASDAQ BGNE opened at $155.08 on Wednesday. The stock has a market cap of $14.82 billion, a PE ratio of -18.24 and a beta of 0.62. BeiGene has a fifty-two week low of $132.95 and a fifty-two week high of $272.49. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.09 and a current ratio of 2.32. The stock has a fifty day moving average of $157.90 and a 200-day moving average of $173.86.

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

Insiders Place Their Bets

In related news, CFO Julia Aijun Wang sold 397 shares of the company’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 value of $66,330.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Julia Aijun Wang sold 397 shares of the company’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 value of $66,330.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO John Oyler sold 37,668 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $164.02, for a total value of $6,178,305.36. Following the completion of the sale, the chief executive officer now owns 12,332 shares in the company, valued at approximately $2,022,694.64. The disclosure for this sale can be found here. Company insiders own 7.40% of the company’s stock.

Hedge Funds Weigh In On BeiGene

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BGNE. E Fund Management Hong Kong Co. Ltd. lifted its position in BeiGene by 137.7% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 27,501 shares of the company’s stock valued at $5,071,000 after acquiring an additional 15,929 shares in the last quarter. Raymond James & Associates lifted its position in BeiGene by 24.9% in the 1st quarter. Raymond James & Associates now owns 15,273 shares of the company’s stock valued at $2,880,000 after acquiring an additional 3,047 shares in the last quarter. Bank of New York Mellon Corp lifted its position in BeiGene by 0.6% in the 1st quarter. Bank of New York Mellon Corp now owns 55,199 shares of the company’s stock valued at $10,409,000 after acquiring an additional 308 shares in the last quarter. American Century Companies Inc. lifted its position in BeiGene by 7.9% in the 1st quarter. American Century Companies Inc. now owns 3,458 shares of the company’s stock valued at $652,000 after acquiring an additional 254 shares in the last quarter. Finally, Bank of Montreal Can lifted its position in BeiGene by 19.7% in the 1st quarter. Bank of Montreal Can now owns 14,571 shares of the company’s stock valued at $3,001,000 after acquiring an additional 2,396 shares in the last quarter. 48.55% of the stock is owned by 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.