BeiGene (NASDAQ:BGNE) PT Lowered to $152.50 at Bank of America

BeiGene (NASDAQ:BGNE) had its price target cut by Bank of America from $180.00 to $152.50 in a research note published on Tuesday morning, Benzinga reports. They currently have a neutral rating on the stock.

Several other research analysts also recently commented on the company. TD Cowen boosted their target price on BeiGene from $236.00 to $254.00 and gave the stock a buy rating in a report on Thursday, May 9th. JPMorgan Chase & Co. raised their price target on shares of BeiGene from $184.00 to $186.00 and gave the company an overweight rating in a report on Tuesday, March 19th. Finally, Sanford C. Bernstein dropped their price objective on shares of BeiGene from $196.00 to $161.00 and set a market perform rating for the company in a research report on Wednesday, March 27th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, BeiGene has an average rating of Moderate Buy and a consensus target price of $250.75.

BeiGene Stock Up 3.1 %

BGNE stock opened at $150.50 on Tuesday. BeiGene has a twelve month low of $126.97 and a twelve month high of $225.23. The company has a quick ratio of 1.84, a current ratio of 2.08 and a debt-to-equity ratio of 0.06. The company has a market cap of $14.58 billion, a PE ratio of -19.88 and a beta of 0.59. The business’s 50-day simple moving average is $156.37 and its 200 day simple moving average is $157.69.

BeiGene (NASDAQ:BGNE) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($2.41) EPS for the quarter, topping analysts’ consensus estimates of ($3.07) by $0.66. BeiGene had a negative net margin of 28.39% and a negative return on equity of 21.70%. The company had revenue of $751.70 million during the quarter, compared to the consensus estimate of $670.09 million. During the same period last year, the firm earned ($3.34) EPS. The firm’s revenue for the quarter was up 67.9% compared to the same quarter last year. On average, research analysts anticipate that BeiGene will post -8.2 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Julia Aijun Wang sold 472 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $143.90, for a total transaction of $67,920.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO John Oyler sold 2,789 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $159.58, for a total transaction of $445,068.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Julia Aijun Wang sold 472 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $143.90, for a total transaction of $67,920.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,683 shares of company stock valued at $1,056,089. 7.43% of the stock is owned by company insiders.

Institutional Investors Weigh In On BeiGene

A number of institutional investors and hedge funds have recently modified their holdings of BGNE. NewEdge Wealth LLC lifted its holdings in BeiGene by 7.5% during the 4th quarter. NewEdge Wealth LLC now owns 1,612 shares of the company’s stock valued at $291,000 after purchasing an additional 112 shares during the last quarter. Vestmark Advisory Solutions Inc. raised its position in shares of BeiGene by 9.5% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 1,601 shares of the company’s stock valued at $289,000 after buying an additional 139 shares in the last quarter. Parkwood LLC grew its holdings in shares of BeiGene by 3.0% during the 4th quarter. Parkwood LLC now owns 6,464 shares of the company’s stock worth $1,166,000 after purchasing an additional 191 shares in the last quarter. ProShare Advisors LLC increased its holdings in BeiGene by 8.1% in the 1st quarter. ProShare Advisors LLC now owns 2,902 shares of the company’s stock valued at $454,000 after buying an additional 217 shares during the period. Finally, Benjamin F. Edwards & Company Inc. increased its stake in BeiGene by 51.5% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 821 shares of the company’s stock valued at $128,000 after acquiring an additional 279 shares during the last quarter. 48.55% of the stock is owned by institutional investors.

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.