BeiGene (NASDAQ:BGNE) Shares Gap Up – Here’s What Happened

BeiGene, Ltd. (NASDAQ:BGNE)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $235.43, but opened at $241.10. BeiGene shares last traded at $241.66, with a volume of 109,769 shares traded.

Analyst Ratings Changes

Several brokerages have issued reports on BGNE. JPMorgan Chase & Co. upped their price target on shares of BeiGene from $194.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Bank of America decreased their price objective on BeiGene from $180.00 to $152.50 and set a “neutral” rating for the company in a report on Tuesday, July 9th. JMP Securities assumed coverage on BeiGene in a report on Wednesday, September 18th. They set a “market outperform” rating and a $288.00 target price on the stock. Finally, Citigroup increased their price target on BeiGene from $269.00 to $288.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $241.21.

BeiGene Trading Down 0.4 %

The company has a debt-to-equity ratio of 0.06, a current ratio of 1.98 and a quick ratio of 1.75. The firm has a market cap of $23.20 billion, a price-to-earnings ratio of -31.62 and a beta of 0.62. The firm’s fifty day moving average is $201.44 and its 200-day moving average is $170.48.

BeiGene (NASDAQ:BGNE) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($1.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.27) by $1.12. BeiGene had a negative return on equity of 14.93% and a negative net margin of 16.91%. The company had revenue of $929.20 million for the quarter, compared to the consensus estimate of $810.34 million. During the same period in the previous year, the business earned ($3.64) EPS. The firm’s revenue was up 56.1% compared to the same quarter last year. Equities analysts anticipate that BeiGene, Ltd. will post -5.13 earnings per share for the current year.

Insider Buying and Selling at BeiGene

In other news, SVP Chan Henry Lee sold 834 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $160.57, for a total transaction of $133,915.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Titus B. Ball sold 137 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $189.94, for a total transaction of $26,021.78. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Chan Henry Lee sold 834 shares of the stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $160.57, for a total value of $133,915.38. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,904 shares of company stock valued at $5,034,965. 7.43% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BeiGene

A number of institutional investors have recently modified their holdings of the company. Parkwood LLC grew its position in BeiGene by 3.0% in the 4th quarter. Parkwood LLC now owns 6,464 shares of the company’s stock valued at $1,166,000 after purchasing an additional 191 shares during the period. Virtu Financial LLC lifted its stake in shares of BeiGene by 94.2% in the fourth quarter. Virtu Financial LLC now owns 5,319 shares of the company’s stock valued at $959,000 after buying an additional 2,580 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of BeiGene by 175.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 214,339 shares of the company’s stock valued at $38,658,000 after buying an additional 136,458 shares during the last quarter. LVW Advisors LLC increased its position in shares of BeiGene by 50.2% during the first quarter. LVW Advisors LLC now owns 1,957 shares of the company’s stock worth $306,000 after acquiring an additional 654 shares in the last quarter. Finally, XY Capital Ltd bought a new stake in shares of BeiGene during the first quarter worth about $4,632,000. 48.55% of the stock is 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.