Brokerages Set BeiGene, Ltd. (NASDAQ:BGNE) Price Target at $248.61

Shares of BeiGene, Ltd. (NASDAQ:BGNE) have been assigned an average recommendation of “Moderate Buy” from the eight brokerages that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $239.81.

BGNE has been the topic of several analyst reports. TD Cowen raised 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. JPMorgan Chase & Co. lifted their target price on BeiGene from $194.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Citigroup lifted their target price on BeiGene from $269.00 to $288.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Finally, Bank of America reduced their target price on BeiGene from $180.00 to $152.50 and set a “neutral” rating on the stock in a report on Tuesday, July 9th.

BeiGene Stock Performance

NASDAQ BGNE opened at $198.16 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.08 and a quick ratio of 1.84. The business has a 50 day moving average price of $166.15 and a 200 day moving average price of $159.80. The company has a market capitalization of $19.20 billion, a P/E ratio of -26.18 and a beta of 0.59. BeiGene has a 1-year low of $126.97 and a 1-year high of $219.64.

BeiGene (NASDAQ:BGNE) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($1.15) earnings per share for the quarter, topping the consensus estimate of ($2.27) by $1.12. BeiGene had a negative return on equity of 21.70% and a negative net margin of 28.39%. The company had revenue of $929.20 million during the quarter, compared to the consensus estimate of $810.34 million. During the same quarter last year, the business posted ($3.64) earnings per share. BeiGene’s revenue was up 56.1% compared to the same quarter last year. Sell-side analysts expect that BeiGene will post -7.76 EPS for the current fiscal year.

Insiders Place Their Bets

In other BeiGene news, CEO John Oyler sold 2,789 shares of the business’s stock in a transaction dated 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 SEC, which is available at this link. In other news, SVP Chan Henry Lee sold 834 shares of BeiGene stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $160.57, for a total transaction of $133,915.38. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John Oyler sold 2,789 shares of BeiGene stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $159.58, for a total value of $445,068.62. The disclosure for this sale can be found here. Insiders have sold a total of 7,517 shares of company stock worth $1,190,004 over the last quarter. 7.43% of the stock is owned by corporate insiders.

Institutional Trading of BeiGene

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets increased its holdings in BeiGene by 7,724.1% in the fourth quarter. BNP Paribas Financial Markets now owns 59,307 shares of the company’s stock valued at $10,697,000 after buying an additional 58,549 shares during the last quarter. Partners Capital Investment Group LLP bought a new position in shares of BeiGene during the fourth quarter valued at approximately $2,762,000. abrdn plc grew its holdings in shares of BeiGene by 1,346.8% during the fourth quarter. abrdn plc now owns 21,138 shares of the company’s stock valued at $3,812,000 after purchasing an additional 19,677 shares during the last quarter. Swedbank AB bought a new position in shares of BeiGene during the first quarter valued at approximately $2,596,000. Finally, AIA Group Ltd grew its holdings in shares of BeiGene by 38.9% during the first quarter. AIA Group Ltd now owns 18,497 shares of the company’s stock valued at $2,893,000 after purchasing an additional 5,181 shares during the last quarter. 48.55% of the stock is owned by hedge funds and other 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.