Leerink Partnrs Issues Negative Outlook for BeiGene Earnings

BeiGene, Ltd. (NASDAQ:BGNE) – Analysts at Leerink Partnrs cut their FY2024 EPS estimates for BeiGene in a note issued to investors on Tuesday, November 12th. Leerink Partnrs analyst A. Berens now anticipates that the company will post earnings per share of ($5.98) for the year, down from their previous forecast of ($5.69). The consensus estimate for BeiGene’s current full-year earnings is ($5.00) per share. Leerink Partnrs also issued estimates for BeiGene’s Q4 2024 earnings at ($1.30) EPS.

Several other analysts have also recently commented on the stock. JMP Securities initiated coverage on shares of BeiGene in a report on Wednesday, September 18th. They set a “market outperform” rating and a $288.00 price target for the company. JPMorgan Chase & Co. upped their target price on BeiGene from $200.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Citigroup boosted their price target on BeiGene from $269.00 to $288.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. TD Cowen lifted their target price on shares of BeiGene from $254.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, StockNews.com upgraded shares of BeiGene from a “hold” rating to a “buy” rating in a research note on Wednesday. Two investment 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 currently has a consensus rating of “Moderate Buy” and an average target price of $247.07.

BeiGene Stock Down 1.1 %

Shares of BeiGene stock opened at $193.29 on Friday. BeiGene has a 1 year low of $126.97 and a 1 year high of $248.16. The company has a market cap of $18.83 billion, a P/E ratio of -23.46 and a beta of 0.63. The company has a current ratio of 1.98, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06. The stock has a 50-day moving average price of $212.91 and a 200 day moving average price of $181.72.

BeiGene (NASDAQ:BGNE) last announced its earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.11) by ($0.04). The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $983.26 million. BeiGene had a negative net margin of 25.94% and a negative return on equity of 25.15%. BeiGene’s revenue for the quarter was up 28.2% compared to the same quarter last year. During the same period last year, the firm earned $2.01 earnings per share.

Institutional Trading of BeiGene

Hedge funds have recently modified their holdings of the company. Driehaus Capital Management LLC acquired a new position in shares of BeiGene in the second quarter valued at $1,168,000. Swedbank AB acquired a new stake in shares of BeiGene during the 1st quarter valued at about $2,596,000. M&G Plc bought a new stake in BeiGene in the first quarter valued at about $29,649,000. The Manufacturers Life Insurance Company increased its stake in BeiGene by 8.4% in the second quarter. The Manufacturers Life Insurance Company now owns 50,262 shares of the company’s stock valued at $7,171,000 after acquiring an additional 3,915 shares during the period. Finally, Van ECK Associates Corp raised its position in BeiGene by 8.9% in the second quarter. Van ECK Associates Corp now owns 95,577 shares of the company’s stock worth $13,636,000 after purchasing an additional 7,816 shares in the last quarter. Institutional investors own 48.55% of the company’s stock.

Insider Transactions at BeiGene

In other news, SVP Chan Henry Lee sold 1,202 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $237.10, for a total value of $284,994.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John Oyler sold 6,175 shares of the business’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $232.22, for a total transaction of $1,433,958.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,070 shares of company stock worth $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.