BeiGene, Ltd. (NASDAQ:BGNE) Given Average Rating of “Buy” by Brokerages

Shares of BeiGene, Ltd. (NASDAQ:BGNEGet Rating) have been assigned an average rating of “Buy” from the eight analysts that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $315.33.

A number of analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of BeiGene in a research report on Monday, February 7th. They issued a “buy” rating on the stock. Morgan Stanley boosted their price objective on shares of BeiGene from $330.00 to $338.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 12th. StockNews.com started coverage on shares of BeiGene in a report on Thursday, March 31st. They set a “sell” rating on the stock. SVB Leerink downgraded shares of BeiGene from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $300.00 to $177.00 in a report on Thursday, March 17th. Finally, Zacks Investment Research downgraded shares of BeiGene from a “buy” rating to a “hold” rating in a report on Tuesday, May 10th.

BeiGene stock traded up $2.70 during midday trading on Friday, hitting $133.96. 191,569 shares of the stock were exchanged, compared to its average volume of 310,605. The company has a quick ratio of 4.87, a current ratio of 5.05 and a debt-to-equity ratio of 0.03. BeiGene has a 52 week low of $118.18 and a 52 week high of $426.56. The company has a fifty day simple moving average of $166.72 and a two-hundred day simple moving average of $225.45. The stock has a market capitalization of $13.76 billion, a PE ratio of -6.67 and a beta of 0.85.

BeiGene (NASDAQ:BGNEGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The company reported ($4.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($4.12) by ($0.12). The company had revenue of $306.60 million during the quarter, compared to the consensus estimate of $300.41 million. BeiGene had a negative net margin of 218.25% and a negative return on equity of 40.10%. The firm’s quarterly revenue was down 49.4% compared to the same quarter last year. As a group, equities research analysts anticipate that BeiGene will post -15.13 EPS for the current fiscal year.

In related news, COO Xiaobin Wu sold 6,725 shares of the company’s stock in a transaction dated Thursday, May 5th. The shares were sold at an average price of $164.35, for a total value of $1,105,253.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 8.90% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in BGNE. O Shaughnessy Asset Management LLC lifted its position in BeiGene by 204.3% during the third quarter. O Shaughnessy Asset Management LLC now owns 70 shares of the company’s stock worth $25,000 after purchasing an additional 47 shares during the period. Pinebridge Investments L.P. bought a new stake in BeiGene during the fourth quarter worth about $27,000. Koshinski Asset Management Inc. lifted its position in BeiGene by 139.6% during the first quarter. Koshinski Asset Management Inc. now owns 242 shares of the company’s stock worth $46,000 after purchasing an additional 141 shares during the period. Assetmark Inc. lifted its position in BeiGene by 25.2% during the third quarter. Assetmark Inc. now owns 288 shares of the company’s stock worth $105,000 after purchasing an additional 58 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position in BeiGene by 9.3% during the third quarter. PNC Financial Services Group Inc. now owns 553 shares of the company’s stock worth $200,000 after purchasing an additional 47 shares during the period.

BeiGene Company Profile (Get Rating)

BeiGene, Ltd. discovers, develops, manufactures, and commercializes medicines for cancer therapeutics in the People's Republic of China, the United States, and internationally. Its products include BRUKINSA to treat relapsed/refractory (R/R) mantle cell lymphoma; Tislelizumab to treat R/R classical Hodgkin's lymphoma; REVLIMID to treat multiple myeloma; VIDAZA to treat myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia; XGEVA to treat giant cell tumor of bone; BLINCYTO to treat acute lymphoblastic leukemia; KYPROLIS to treat R/R multiple myeloma; SYLVANT to treat idiopathic multicentric castleman disease; QARZIBA to treat neuroblastoma; Pamiparib for the treatment of various solid tumors; and Pobevcy to treat metastatic colorectal cancer, liver cancer, and non-small cell lung cancer (NSCLC).

Further Reading

Analyst Recommendations for BeiGene (NASDAQ:BGNE)

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