BeiGene (NASDAQ:BGNE) Posts Earnings Results, Misses Expectations By $0.04 EPS

BeiGene (NASDAQ:BGNE) announced its earnings results on Tuesday. The company reported ($1.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.04), Briefing.com reports. The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $983.26 million. BeiGene had a negative return on equity of 25.15% and a negative net margin of 25.94%. BeiGene’s revenue for the quarter was up 28.2% on a year-over-year basis. During the same quarter last year, the business posted $2.01 EPS.

BeiGene Price Performance

BGNE stock opened at $195.45 on Thursday. The company’s 50-day moving average price is $212.91 and its two-hundred day moving average price is $181.72. The firm has a market cap of $19.04 billion, a P/E ratio of -23.72 and a beta of 0.63. The company has a quick ratio of 1.75, a current ratio of 1.98 and a debt-to-equity ratio of 0.06. BeiGene has a 12 month low of $126.97 and a 12 month high of $248.16.

Analyst Ratings Changes

A number of research analysts have commented on the company. JPMorgan Chase & Co. increased their price objective on BeiGene from $200.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. TD Cowen upped their price target on shares of BeiGene from $254.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday. StockNews.com upgraded shares of BeiGene from a “hold” rating to a “buy” rating in a research note on Wednesday. JMP Securities began coverage on shares of BeiGene in a research report on Wednesday, September 18th. They set a “market outperform” rating and a $288.00 target price on the stock. Finally, Citigroup raised their target price on shares of BeiGene from $269.00 to $288.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, BeiGene has an average rating of “Moderate Buy” and a consensus price target of $247.07.

Insider Transactions at BeiGene

In related news, SVP Chan Henry Lee sold 1,202 shares of BeiGene stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $237.10, for a total value of $284,994.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, SVP Chan Henry Lee sold 1,202 shares of the company’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $237.10, for a total transaction of $284,994.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John Oyler sold 6,175 shares of BeiGene stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $232.22, for a total value of $1,433,958.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,070 shares of company stock valued at $4,901,050. Company insiders own 7.43% of the company’s stock.

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.