FY2024 EPS Estimates for BeiGene Reduced by Leerink Partnrs

BeiGene, Ltd. (NASDAQ:BGNE) – Equities research analysts at Leerink Partnrs lowered their FY2024 EPS estimates for BeiGene in a research report issued to clients and investors on Tuesday, November 12th. Leerink Partnrs analyst A. Berens now expects that the company will earn ($5.98) per share for the year, down from their previous estimate of ($5.69). The consensus estimate for BeiGene’s current full-year earnings is ($5.00) per share. Leerink Partnrs also issued estimates for BeiGene’s Q4 2024 earnings at ($1.30) EPS.

Several other brokerages have also recently issued reports on BGNE. JMP Securities began coverage on shares of BeiGene in a research note on Wednesday, September 18th. They issued a “market outperform” rating and a $288.00 price objective on the stock. Citigroup boosted their price target on shares of BeiGene from $269.00 to $288.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. StockNews.com raised shares of BeiGene from a “hold” rating to a “buy” rating in a report on Wednesday. TD Cowen boosted their target price on BeiGene from $254.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, 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. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $247.07.

BeiGene Price Performance

BeiGene stock opened at $189.23 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.93 and a quick ratio of 1.75. The business has a 50 day simple moving average of $212.91 and a 200-day simple moving average of $182.03. BeiGene has a 12 month low of $126.97 and a 12 month high of $248.16. The stock has a market capitalization of $18.43 billion, a PE ratio of -22.96 and a beta of 0.63.

BeiGene (NASDAQ:BGNE) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($1.15) EPS for the quarter, missing the consensus estimate of ($1.11) by ($0.04). BeiGene had a negative net margin of 25.94% and a negative return on equity of 25.12%. The company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $983.26 million. During the same period in the prior year, the company earned $2.01 earnings per share. The firm’s revenue was up 28.2% on a year-over-year basis.

Insider Buying and Selling at BeiGene

In related news, CEO John Oyler sold 6,175 shares of the stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $232.22, for a total value of $1,433,958.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Xiaobin Wu sold 5,556 shares of BeiGene stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $189.65, for a total transaction of $1,053,695.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,070 shares of company stock valued at $4,901,050. Corporate insiders own 7.43% of the company’s stock.

Institutional Trading of BeiGene

Large investors have recently modified their holdings of the business. Blue Trust Inc. raised its position in shares of BeiGene by 156.3% during the 3rd quarter. Blue Trust Inc. now owns 123 shares of the company’s stock worth $28,000 after purchasing an additional 75 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in BeiGene during the third quarter worth $36,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of BeiGene in the third quarter worth $67,000. Headlands Technologies LLC purchased a new stake in shares of BeiGene in the first quarter valued at $50,000. Finally, SG Americas Securities LLC acquired a new stake in shares of BeiGene during the third quarter valued at $105,000. 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.