Brokers Issue Forecasts for BeiGene, Ltd.’s Q2 2024 Earnings (NASDAQ:BGNE)

BeiGene, Ltd. (NASDAQ:BGNE) – Analysts at Leerink Partnrs raised their Q2 2024 earnings per share (EPS) estimates for BeiGene in a research note issued to investors on Wednesday, July 24th. Leerink Partnrs analyst A. Berens now forecasts that the company will post earnings per share of ($2.26) for the quarter, up from their prior estimate of ($2.36). The consensus estimate for BeiGene’s current full-year earnings is ($8.23) per share. Leerink Partnrs also issued estimates for BeiGene’s Q3 2024 earnings at ($2.18) EPS, Q4 2024 earnings at ($2.10) EPS, FY2024 earnings at ($8.95) EPS, FY2025 earnings at ($4.60) EPS, FY2026 earnings at $2.45 EPS and FY2027 earnings at $7.59 EPS.

A number of other research firms also recently weighed in on BGNE. Bank of America dropped their target price on BeiGene from $180.00 to $152.50 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. TD Cowen boosted their price objective on BeiGene from $236.00 to $254.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $250.75.

BeiGene Stock Down 0.4 %

NASDAQ:BGNE opened at $162.54 on Friday. The company has a market cap of $15.76 billion, a price-to-earnings ratio of -21.47 and a beta of 0.59. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.84 and a current ratio of 2.08. The stock’s fifty day moving average price is $154.57 and its two-hundred day moving average price is $155.98. BeiGene has a 52-week low of $126.97 and a 52-week high of $225.23.

BeiGene (NASDAQ:BGNE) last announced its earnings results on Wednesday, May 8th. The company reported ($2.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($3.07) by $0.66. The company had revenue of $751.70 million during the quarter, compared to the consensus estimate of $670.09 million. BeiGene had a negative net margin of 28.39% and a negative return on equity of 21.70%. The company’s revenue was up 67.9% on a year-over-year basis. During the same period in the previous year, the firm posted ($3.34) earnings per share.

Insider Activity

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

Institutional Trading of BeiGene

Hedge funds have recently bought and sold shares of the stock. Headlands Technologies LLC bought a new stake in shares of BeiGene during the first quarter worth $50,000. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of BeiGene in the 4th quarter valued at about $98,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of BeiGene in the fourth quarter valued at about $183,000. Acadian Asset Management LLC boosted its position in shares of BeiGene by 204.1% during the first quarter. Acadian Asset Management LLC now owns 1,265 shares of the company’s stock worth $197,000 after buying an additional 849 shares during the period. Finally, Clear Harbor Asset Management LLC bought a new position in shares of BeiGene during the fourth quarter worth about $208,000. 48.55% of the stock is currently 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.