Equities researchers at StockNews.com began coverage on shares of BeiGene (NASDAQ:BGNE – Get Rating) in a report released on Thursday. The firm set a "hold" rating on the stock.
Other analysts also recently issued reports about the company. Guggenheim reiterated a "buy" rating and set a $350.00 target price on shares of BeiGene in a research report on Tuesday, February 28th. Cowen boosted their target price on BeiGene from $213.00 to $262.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 28th. SVB Leerink boosted their target price on BeiGene from $236.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, January 20th. Morgan Stanley decreased their target price on BeiGene from $325.00 to $321.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 28th. Finally, Daiwa Capital Markets started coverage on BeiGene in a research report on Wednesday, January 11th. They issued a "buy" rating and a $308.00 price objective on the stock. One analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $292.86.
Get BeiGene alerts:BeiGene Stock Down 0.6 %
BeiGene stock opened at $223.32 on Thursday. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.55 and a quick ratio of 3.35. BeiGene has a 1-year low of $118.18 and a 1-year high of $280.62. The company has a market cap of $23.28 billion, a PE ratio of -11.46 and a beta of 0.77. The stock's 50 day moving average price is $244.26 and its 200 day moving average price is $202.03.
BeiGene (NASDAQ:BGNE – Get Rating) last posted its earnings results on Monday, February 27th. The company reported ($4.29) EPS for the quarter, missing analysts' consensus estimates of ($4.18) by ($0.11). The firm had revenue of $380.10 million for the quarter, compared to analysts' expectations of $388.17 million. BeiGene had a negative return on equity of 39.72% and a negative net margin of 141.86%. The firm's revenue for the quarter was up 77.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($6.22) earnings per share. On average, sell-side analysts predict that BeiGene will post -12.65 EPS for the current fiscal year.
Insider Activity
In other news, insider Xiaodong Wang sold 900 shares of the company's stock in a transaction on Monday, January 9th. The stock was sold at an average price of $250.00, for a total value of $225,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, insider Xiaodong Wang sold 900 shares of the company's stock in a transaction on Monday, January 9th. The stock was sold at an average price of $250.00, for a total value of $225,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John Oyler sold 1,716 shares of the company's stock in a transaction on Thursday, December 29th. The shares were sold at an average price of $224.46, for a total value of $385,173.36. The disclosure for this sale can be found here. Insiders have sold 80,668 shares of company stock worth $18,469,758 over the last three months. 7.50% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On BeiGene
Several institutional investors have recently added to or reduced their stakes in BGNE. E Fund Management Hong Kong Co. Ltd. increased its stake in BeiGene by 137.7% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 27,501 shares of the company's stock valued at $5,071,000 after purchasing an additional 15,929 shares during the last quarter. Raymond James & Associates increased its stake in BeiGene by 24.9% during the first quarter. Raymond James & Associates now owns 15,273 shares of the company's stock worth $2,880,000 after acquiring an additional 3,047 shares during the last quarter. Bank of New York Mellon Corp increased its stake in BeiGene by 0.6% during the first quarter. Bank of New York Mellon Corp now owns 55,199 shares of the company's stock worth $10,409,000 after acquiring an additional 308 shares during the last quarter. American Century Companies Inc. increased its stake in BeiGene by 7.9% during the first quarter. American Century Companies Inc. now owns 3,458 shares of the company's stock worth $652,000 after acquiring an additional 254 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in BeiGene by 19.7% during the first quarter. Bank of Montreal Can now owns 14,571 shares of the company's stock worth $3,001,000 after acquiring an additional 2,396 shares during the last quarter. 51.43% of the stock is currently owned by institutional investors and hedge funds.
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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