Leerink Partnrs Analysts Reduce Earnings Estimates for BeiGene, Ltd. (NASDAQ:BGNE)

BeiGene, Ltd. (NASDAQ:BGNE) – Analysts at Leerink Partnrs reduced their Q1 2024 EPS estimates for BeiGene in a research report issued to clients and investors on Wednesday, April 24th. Leerink Partnrs analyst A. Berens now anticipates that the company will post earnings of ($2.63) per share for the quarter, down from their previous forecast of ($2.43). The consensus estimate for BeiGene’s current full-year earnings is ($8.93) per share. Leerink Partnrs also issued estimates for BeiGene’s Q2 2024 earnings at ($2.53) EPS, Q3 2024 earnings at ($2.31) EPS, Q4 2024 earnings at ($2.15) EPS, FY2024 earnings at ($9.61) EPS, FY2025 earnings at ($4.91) EPS, FY2026 earnings at $1.73 EPS and FY2027 earnings at $7.32 EPS.

BeiGene (NASDAQ:BGNE) last released its quarterly earnings data on Monday, February 26th. The company reported ($3.53) EPS for the quarter, beating the consensus estimate of ($3.61) by $0.08. BeiGene had a negative net margin of 35.86% and a negative return on equity of 23.12%. The firm had revenue of $634.40 million for the quarter, compared to the consensus estimate of $632.52 million. During the same period in the previous year, the company earned ($4.29) earnings per share. The company’s quarterly revenue was up 66.9% on a year-over-year basis.

BGNE has been the topic of several other reports. TD Cowen upped their price target on shares of BeiGene from $235.00 to $236.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. JPMorgan Chase & Co. upped their price target on shares of BeiGene from $184.00 to $186.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Sanford C. Bernstein decreased 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 note on Wednesday, March 27th. Bank of America decreased their price target on shares of BeiGene from $179.30 to $164.30 and set a “neutral” rating on the stock in a research note on Monday, April 8th. Finally, Guggenheim decreased their price target on shares of BeiGene from $350.00 to $345.00 and set a “buy” rating on the stock in a research note on Tuesday, February 27th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, BeiGene has an average rating of “Moderate Buy” and an average price target of $250.13.

BeiGene Price Performance

NASDAQ:BGNE opened at $153.94 on Monday. BeiGene has a one year low of $126.97 and a one year high of $266.67. The company has a market cap of $14.72 billion, a P/E ratio of -18.11 and a beta of 0.61. The firm’s fifty day moving average price is $155.12 and its two-hundred day moving average price is $166.78. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.32 and a quick ratio of 2.09.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Knights of Columbus Asset Advisors LLC grew its holdings in BeiGene by 20.5% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 447 shares of the company’s stock valued at $80,000 after buying an additional 76 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in shares of BeiGene by 4.8% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 1,704 shares of the company’s stock worth $306,000 after purchasing an additional 78 shares in the last quarter. NewEdge Wealth LLC grew its holdings in shares of BeiGene by 7.5% during the fourth quarter. NewEdge Wealth LLC now owns 1,612 shares of the company’s stock worth $291,000 after purchasing an additional 112 shares in the last quarter. Vestmark Advisory Solutions Inc. grew its holdings in shares of BeiGene by 9.5% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 1,601 shares of the company’s stock worth $289,000 after purchasing an additional 139 shares in the last quarter. Finally, Parkwood LLC grew its holdings in shares of BeiGene by 3.0% during the fourth quarter. Parkwood LLC now owns 6,464 shares of the company’s stock worth $1,166,000 after purchasing an additional 191 shares in the last quarter. Hedge funds and other institutional investors own 48.55% of the company’s stock.

Insider Transactions at BeiGene

In related news, CFO Julia Aijun Wang sold 397 shares of the firm’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 value of $66,330.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related 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 value of $3,977,745.24. Following the completion of the transaction, the chief executive officer now owns 12,084 shares in the company, valued at approximately $1,799,186.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Julia Aijun Wang sold 397 shares of the firm’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 90 days, insiders sold 64,781 shares of company stock valued at $10,222,381. 7.40% of the stock is currently owned by insiders.

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.