StockNews.com Initiates Coverage on BeiGene (NASDAQ:BGNE)

Analysts at StockNews.com assumed coverage on shares of BeiGene (NASDAQ:BGNE) in a report released on Monday. The brokerage set a “hold” rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Morgan Stanley reiterated an “overweight” rating and set a $300.00 target price on shares of BeiGene in a report on Tuesday, December 3rd. TD Cowen raised their price target on shares of BeiGene from $254.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of BeiGene from $200.00 to $235.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Three 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $253.69.

BeiGene Stock Performance

The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.72 and a current ratio of 1.93. The firm has a market capitalization of $18.03 billion, a PE ratio of -22.42 and a beta of 0.57. BeiGene has a 1-year low of $126.97 and a 1-year high of $248.16. The business’s 50-day moving average price is $194.32 and its two-hundred day moving average price is $188.98.

BeiGene (NASDAQ:BGNE) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($1.15) EPS for the quarter, missing the consensus estimate of ($1.11) by ($0.04). BeiGene had a negative return on equity of 25.12% and a negative net margin of 25.94%. The business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $983.26 million. During the same quarter in the prior year, the firm earned $2.01 earnings per share. BeiGene’s quarterly revenue was up 28.2% on a year-over-year basis. As a group, equities research analysts predict that BeiGene will post -5.64 earnings per share for the current year.

Insider Activity

In related news, insider Xiaodong Wang sold 40,468 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $190.10, for a total value of $7,692,966.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Bros. Advisors Lp Baker sold 1,037,017 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $187.27, for a total transaction of $194,202,173.59. Following the sale, the director now directly owns 791,493 shares of the company’s stock, valued at approximately $148,222,894.11. This trade represents a 56.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,119,245 shares of company stock valued at $209,700,084 in the last ninety days. Company insiders own 7.43% of the company’s stock.

Hedge Funds Weigh In On BeiGene

A number of institutional investors have recently made changes to their positions in the business. Blue Trust Inc. increased its holdings in BeiGene by 156.3% in the third quarter. Blue Trust Inc. now owns 123 shares of the company’s stock valued at $28,000 after buying an additional 75 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of BeiGene in the 3rd quarter valued at approximately $36,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of BeiGene during the 3rd quarter valued at approximately $67,000. SG Americas Securities LLC acquired a new position in BeiGene in the third quarter worth $105,000. Finally, PFG Investments LLC bought a new stake in BeiGene during the third quarter valued at $210,000. 48.55% of the stock is owned by institutional investors and hedge funds.

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.