BeiGene (NASDAQ:BGNE) Rating Lowered to Hold at StockNews.com

StockNews.com downgraded shares of BeiGene (NASDAQ:BGNE) from a buy rating to a hold rating in a research note released on Thursday morning.

Several other equities analysts have also commented on BGNE. TD Cowen upped their target price on BeiGene from $254.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Citigroup boosted their price target on shares of BeiGene from $269.00 to $288.00 and gave the company a “buy” rating in a report on Thursday, August 8th. JMP Securities started coverage on shares of BeiGene in a report on Wednesday, September 18th. They issued a “market outperform” rating and a $288.00 price objective on the stock. Finally, JPMorgan Chase & Co. upped their target price on shares of BeiGene from $200.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $247.07.

BeiGene Trading Down 2.1 %

Shares of BGNE opened at $190.51 on Thursday. The company has a market capitalization of $18.56 billion, a P/E ratio of -23.12 and a beta of 0.63. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.72 and a current ratio of 1.93. The stock has a 50-day moving average price of $212.06 and a 200 day moving average price of $183.28. BeiGene has a one year low of $126.97 and a one year high of $248.16.

BeiGene (NASDAQ:BGNE) last issued its earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.04). BeiGene had a negative net margin of 25.94% and a negative return on equity of 25.12%. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $983.26 million. During the same quarter last year, the company posted $2.01 EPS. The business’s revenue for the quarter was up 28.2% compared to the same quarter last year. Sell-side analysts forecast that BeiGene will post -5.38 EPS for the current fiscal year.

Insider Transactions at BeiGene

In other BeiGene news, SVP Chan Henry Lee sold 1,202 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $237.10, for a total value of $284,994.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John Oyler sold 6,175 shares of BeiGene stock in a transaction that occurred 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. In the last three months, insiders sold 23,070 shares of company stock valued at $4,901,050. Company insiders own 7.43% of the company’s stock.

Hedge Funds Weigh In On BeiGene

Institutional investors have recently bought and sold shares of the stock. XTX Topco Ltd acquired a new position in BeiGene in the 3rd quarter worth approximately $1,614,000. Quantinno Capital Management LP purchased a new position in BeiGene during the 3rd quarter valued at about $295,000. Point72 Asset Management L.P. lifted its position in shares of BeiGene by 74.9% in the third quarter. Point72 Asset Management L.P. now owns 667,166 shares of the company’s stock worth $149,785,000 after purchasing an additional 285,784 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of BeiGene during the 3rd quarter valued at $67,000. Finally, Erste Asset Management GmbH acquired a new stake in BeiGene during the third quarter valued at $4,478,000. Hedge funds and other institutional investors 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.