BeiGene (NASDAQ:BGNE) Shares Gap Down to $174.32

BeiGene, Ltd. (NASDAQ:BGNEGet Free Report)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $174.32, but opened at $167.91. BeiGene shares last traded at $171.64, with a volume of 12,489 shares traded.

Analyst Ratings Changes

A number of equities analysts recently commented on BGNE shares. TD Cowen lifted their price target on BeiGene from $236.00 to $254.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Bank of America reduced their price target on BeiGene from $179.30 to $164.30 and set a “neutral” rating for the company in a report on Monday, April 8th. Guggenheim reduced their price target on BeiGene from $350.00 to $345.00 and set a “buy” rating for the company in a report on Tuesday, February 27th. Sanford C. Bernstein reduced their price target on BeiGene from $196.00 to $161.00 and set a “market perform” rating for the company in a report on Wednesday, March 27th. Finally, JPMorgan Chase & Co. lifted their price target on BeiGene from $184.00 to $186.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, BeiGene has an average rating of “Moderate Buy” and a consensus price target of $251.93.

View Our Latest Research Report on BGNE

BeiGene Trading Up 0.3 %

The company has a debt-to-equity ratio of 0.06, a current ratio of 2.08 and a quick ratio of 1.84. The business’s 50-day moving average price is $155.64 and its two-hundred day moving average price is $165.86. The company has a market capitalization of $16.07 billion, a price-to-earnings ratio of -22.18 and a beta of 0.63.

BeiGene (NASDAQ:BGNEGet Free Report) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($2.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.07) by $0.66. BeiGene had a negative net margin of 28.39% and a negative return on equity of 21.70%. The company had revenue of $751.70 million during the quarter, compared to the consensus estimate of $670.09 million. During the same period in the previous year, the business earned ($3.34) earnings per share. The firm’s quarterly revenue was up 67.9% on a year-over-year basis. Research analysts predict that BeiGene, Ltd. will post -8.2 earnings per share for the current year.

Insider Activity

In other BeiGene news, CFO Julia Aijun Wang sold 397 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $167.08, for a total transaction of $66,330.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other BeiGene news, CEO John Oyler sold 37,668 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $164.02, for a total transaction of $6,178,305.36. Following the completion of the transaction, the chief executive officer now directly owns 12,332 shares in the company, valued at $2,022,694.64. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Julia Aijun Wang sold 397 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were 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. Over the last ninety days, insiders sold 64,781 shares of company stock worth $10,222,381. Corporate insiders own 7.43% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BGNE. Headlands Technologies LLC acquired a new position in shares of BeiGene during the first quarter worth $50,000. Toronto Dominion Bank increased its holdings in shares of BeiGene by 166.4% during the third quarter. Toronto Dominion Bank now owns 333 shares of the company’s stock worth $60,000 after buying an additional 208 shares in the last quarter. Benjamin F. Edwards & Company Inc. acquired a new position in shares of BeiGene during the fourth quarter worth $98,000. PNC Financial Services Group Inc. increased its holdings in shares of BeiGene by 123.9% during the third quarter. PNC Financial Services Group Inc. now owns 732 shares of the company’s stock worth $132,000 after buying an additional 405 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of BeiGene during the fourth quarter worth $183,000. 48.55% of the stock is currently owned by institutional investors and hedge funds.

About BeiGene

(Get Free Report)

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.

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