BeiGene (NASDAQ:BGNE) Shares Gap Up – Still a Buy?

BeiGene, Ltd. (NASDAQ:BGNE)’s share price gapped up prior to trading on Friday . The stock had previously closed at $212.39, but opened at $222.35. BeiGene shares last traded at $218.97, with a volume of 34,996 shares traded.

Wall Street Analyst Weigh In

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

BeiGene Trading Up 1.6 %

The stock has a 50-day simple moving average of $206.64 and a two-hundred day simple moving average of $172.88. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.98. The firm has a market cap of $20.92 billion, a PE ratio of -28.06 and a beta of 0.62.

BeiGene (NASDAQ:BGNE) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($1.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.27) by $1.12. BeiGene had a negative net margin of 16.91% and a negative return on equity of 14.93%. The company had revenue of $929.20 million for the quarter, compared to the consensus estimate of $810.34 million. During the same quarter in the prior year, the firm earned ($3.64) earnings per share. The firm’s revenue for the quarter was up 56.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that BeiGene, Ltd. will post -5.07 EPS for the current year.

Insider Buying and Selling

In other BeiGene news, insider Titus B. Ball sold 137 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $189.94, for a total value of $26,021.78. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Titus B. Ball sold 137 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $189.94, for a total value of $26,021.78. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Chan Henry Lee sold 834 shares of the business’s stock in a transaction dated Tuesday, July 30th. The shares were 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. Insiders sold 23,904 shares of company stock valued at $5,034,965 over the last 90 days. Company insiders own 7.43% of the company’s stock.

Hedge Funds Weigh In On BeiGene

Several large investors have recently added to or reduced their stakes in the company. Blue Trust Inc. increased its stake in shares of BeiGene by 156.3% in the third quarter. Blue Trust Inc. now owns 123 shares of the company’s stock worth $28,000 after purchasing an additional 75 shares in the last quarter. SG Americas Securities LLC purchased a new stake in BeiGene in the 3rd quarter worth $105,000. Sanctuary Advisors LLC bought a new stake in BeiGene during the second quarter valued at about $1,038,000. Truist Financial Corp lifted its position in shares of BeiGene by 10.1% in the second quarter. Truist Financial Corp now owns 1,521 shares of the company’s stock valued at $217,000 after acquiring an additional 140 shares in the last quarter. Finally, Driehaus Capital Management LLC bought a new stake in BeiGene during the 2nd quarter valued at approximately $1,168,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.

BeiGene Company Profile

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.