BeiGene (NASDAQ:BGNE) Sees Strong Trading Volume – Still a Buy?

BeiGene, Ltd. (NASDAQ:BGNE) saw unusually-high trading volume on Monday . Approximately 1,411,044 shares were traded during trading, an increase of 421% from the previous session’s volume of 270,992 shares.The stock last traded at $214.19 and had previously closed at $215.00.

Analyst Ratings Changes

BGNE has been the topic of several research analyst reports. TD Cowen boosted their price target on BeiGene from $254.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. StockNews.com downgraded BeiGene from a “buy” rating to a “hold” rating in a research report on Thursday, November 21st. JPMorgan Chase & Co. lifted their price objective 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 report on Thursday, August 8th. Finally, JMP Securities started coverage on shares of BeiGene in a research note on Wednesday, September 18th. They set a “market outperform” rating and a $288.00 price objective for the company. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, BeiGene presently has an average rating of “Moderate Buy” and an average price target of $247.07.

BeiGene Stock Performance

The stock has a fifty day moving average price of $212.42 and a two-hundred day moving average price of $184.77. The company has a market cap of $20.39 billion, a P/E ratio of -26.09 and a beta of 0.63. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.93 and a quick ratio of 1.72.

BeiGene (NASDAQ:BGNE) last posted its quarterly 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 business had revenue of $1 billion during the quarter, compared to analyst estimates of $983.26 million. BeiGene had a negative return on equity of 25.12% and a negative net margin of 25.94%. The company’s quarterly revenue was up 28.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.01 EPS. On average, equities analysts forecast that BeiGene, Ltd. will post -5.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other BeiGene news, SVP Chan Henry Lee sold 1,202 shares of BeiGene stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $237.10, for a total transaction of $284,994.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO John Oyler sold 6,175 shares of BeiGene stock in a transaction on Tuesday, October 8th. The shares were 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. In the last three months, insiders have sold 63,538 shares of company stock worth $12,594,017. Corporate insiders own 7.43% of the company’s stock.

Institutional Investors Weigh In On BeiGene

A number of institutional investors have recently modified their holdings of the stock. Blue Trust Inc. boosted its stake in shares of BeiGene by 156.3% during the 3rd 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 period. Raymond James & Associates lifted its stake in shares of BeiGene by 0.4% in the 2nd quarter. Raymond James & Associates now owns 21,275 shares of the company’s stock valued at $3,035,000 after purchasing an additional 76 shares during the last quarter. Truist Financial Corp lifted its stake in shares of BeiGene by 10.1% in the 2nd quarter. Truist Financial Corp now owns 1,521 shares of the company’s stock valued at $217,000 after purchasing an additional 140 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of BeiGene in the 3rd quarter valued at $36,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of BeiGene by 0.3% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 97,895 shares of the company’s stock valued at $21,978,000 after purchasing an additional 266 shares during the last quarter. Institutional investors and hedge funds own 48.55% 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.