BeiGene (NASDAQ:BGNE) Issues Quarterly Earnings Results, Misses Expectations By $0.04 EPS

BeiGene (NASDAQ:BGNE) announced its earnings results on Tuesday. The company reported ($1.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.04), Briefing.com reports. BeiGene had a negative net margin of 25.94% and a negative return on equity of 25.12%. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $983.26 million. During the same period in the previous year, the firm posted $2.01 EPS. The company’s revenue was up 28.2% compared to the same quarter last year.

BeiGene Trading Down 1.6 %

Shares of BGNE opened at $190.20 on Friday. The company has a current ratio of 1.93, a quick ratio of 1.75 and a debt-to-equity ratio of 0.05. BeiGene has a 52-week low of $126.97 and a 52-week high of $248.16. The business’s fifty day moving average is $212.91 and its 200-day moving average is $181.72.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Citigroup lifted their price target on shares of BeiGene from $269.00 to $288.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. raised their price objective on BeiGene from $200.00 to $235.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. JMP Securities started coverage on BeiGene in a research report on Wednesday, September 18th. They set a “market outperform” rating and a $288.00 target price for the company. TD Cowen increased their target price on BeiGene from $254.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, StockNews.com raised BeiGene from a “hold” rating to a “buy” rating in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $247.07.

Insider Buying and Selling

In other BeiGene news, COO Xiaobin Wu sold 500 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $200.00, for a total value of $100,000.00. Following the completion of the transaction, the chief operating officer now directly owns 4,500 shares in the company, valued at approximately $900,000. This trade represents a 10.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Titus B. Ball sold 137 shares of BeiGene stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $189.94, for a total transaction of $26,021.78. The disclosure for this sale can be found here. Insiders sold a total of 23,070 shares of company stock worth $4,901,050 in the last ninety days. 7.43% of the stock is owned by insiders.

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.