BeiGene, Ltd. (NASDAQ:BGNE – Get Rating) gapped up prior to trading on Wednesday . The stock had previously closed at $231.32, but opened at $240.23. BeiGene shares last traded at $237.49, with a volume of 80,293 shares trading hands.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on the stock. Guggenheim restated a "buy" rating and set a $350.00 price target on shares of BeiGene in a research report on Tuesday, February 28th. Cowen increased their price objective on shares of BeiGene from $213.00 to $262.00 and gave the company an "outperform" rating in a research report on Tuesday, February 28th. StockNews.com raised shares of BeiGene from a "sell" rating to a "hold" rating in a research report on Saturday, November 19th. Daiwa Capital Markets started coverage on shares of BeiGene in a research note on Wednesday, January 11th. They issued a "buy" rating and a $308.00 target price for the company. Finally, Morgan Stanley decreased their target price on shares of BeiGene from $325.00 to $321.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 28th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $292.86.
Get BeiGene alerts:BeiGene Stock Up 1.7 %
The stock has a market capitalization of $24.53 billion, a P/E ratio of -12.33 and a beta of 0.77. The firm has a 50 day simple moving average of $245.20 and a two-hundred day simple moving average of $201.24. The company has a quick ratio of 3.35, a current ratio of 3.55 and a debt-to-equity ratio of 0.05.
BeiGene (NASDAQ:BGNE – Get Rating) last released its quarterly earnings data on Monday, February 27th. The company reported ($4.29) earnings per share for the quarter, missing analysts' consensus estimates of ($4.18) by ($0.11). The business had revenue of $380.10 million during the quarter, compared to analysts' expectations of $388.17 million. BeiGene had a negative net margin of 141.86% and a negative return on equity of 39.72%. The firm's quarterly revenue was up 77.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($6.22) earnings per share. On average, equities research analysts expect that BeiGene, Ltd. will post -12.44 earnings per share for the current year.
Insiders Place Their Bets
In other BeiGene news, insider Xiaodong Wang sold 67,635 shares of BeiGene stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $226.03, for a total value of $15,287,539.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other BeiGene news, CEO John Oyler sold 1,716 shares of BeiGene stock in a transaction dated Thursday, December 29th. The shares were sold at an average price of $224.46, for a total transaction of $385,173.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Xiaodong Wang sold 67,635 shares of the firm's stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $226.03, for a total transaction of $15,287,539.05. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 80,668 shares of company stock worth $18,469,758. Company insiders own 7.50% of the company's stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its stake in shares of BeiGene by 26.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 244 shares of the company's stock valued at $54,000 after buying an additional 51 shares during the last quarter. China Universal Asset Management Co. Ltd. purchased a new stake in shares of BeiGene during the 3rd quarter worth about $61,000. CI Investments Inc. increased its position in BeiGene by 295.4% in the 4th quarter. CI Investments Inc. now owns 518 shares of the company's stock worth $114,000 after buying an additional 387 shares during the period. Rockefeller Capital Management L.P. grew its holdings in shares of BeiGene by 8.3% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 885 shares of the company's stock worth $119,000 after purchasing an additional 68 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in BeiGene in the 3rd quarter valued at $165,000. 51.43% of the stock is currently owned by hedge funds and other institutional investors.
BeiGene Company Profile
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BeiGene Ltd. is a global, science-driven biotechnology company focused on developing innovative and affordable medicines to improve treatment outcomes and access for patients worldwide. The company was founded by Xiao Dong Wang and John V. Oyler on October 28, 2010 and is headquartered in George Town, KY.
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