BeiGene (NASDAQ:BGNE) Shares Down 2.4%

BeiGene, Ltd. (NASDAQ:BGNE)’s stock price dropped 2.4% during mid-day trading on Friday . The stock traded as low as $126.97 and last traded at $128.77. Approximately 17,319 shares traded hands during trading, a decline of 93% from the average daily volume of 256,444 shares. The stock had previously closed at $131.96.

Wall Street Analysts Forecast Growth

BGNE has been the subject of several recent research reports. Bank of America cut their price target on BeiGene from $179.30 to $164.30 and set a “neutral” rating for the company in a report on Monday, April 8th. JPMorgan Chase & Co. upped their price objective on BeiGene from $184.00 to $186.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Sanford C. Bernstein dropped their price objective on BeiGene from $196.00 to $161.00 and set a “market perform” rating for the company in a research note on Wednesday, March 27th. Finally, Guggenheim dropped their price objective on BeiGene from $350.00 to $345.00 and set a “buy” rating for the company in a research note on Tuesday, February 27th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, BeiGene has an average rating of “Moderate Buy” and a consensus price target of $251.70.

BeiGene Trading Down 2.0 %

The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.09 and a current ratio of 2.32. The business has a 50-day simple moving average of $155.43 and a 200-day simple moving average of $168.61.

BeiGene (NASDAQ:BGNE) last issued its quarterly earnings results on Monday, February 26th. The company reported ($3.53) earnings per share for the quarter, topping the consensus estimate of ($3.61) by $0.08. BeiGene had a negative return on equity of 23.12% and a negative net margin of 35.86%. The firm had revenue of $634.40 million for the quarter, compared to the consensus estimate of $632.52 million. During the same period in the prior year, the business posted ($4.29) earnings per share. The company’s revenue for the quarter was up 66.9% on a year-over-year basis. On average, equities research analysts anticipate that BeiGene, Ltd. will post -8.87 earnings per share for the current fiscal year.

Insider Transactions at BeiGene

In other news, CEO John Oyler sold 37,668 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $164.02, for a total value of $6,178,305.36. Following the sale, the chief executive officer now directly owns 12,332 shares in the company, valued at $2,022,694.64. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO John Oyler sold 37,668 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $164.02, for a total value of $6,178,305.36. Following the transaction, the chief executive officer now owns 12,332 shares of the company’s stock, valued at $2,022,694.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Julia Aijun Wang sold 397 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $167.08, for a total value of $66,330.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 64,781 shares of company stock worth $10,222,381. 7.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its position in BeiGene by 26.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 244 shares of the company’s stock valued at $54,000 after acquiring an additional 51 shares in the last quarter. Toronto Dominion Bank boosted its position in BeiGene by 166.4% during the 3rd quarter. Toronto Dominion Bank now owns 333 shares of the company’s stock valued at $60,000 after acquiring an additional 208 shares in the last quarter. Knights of Columbus Asset Advisors LLC boosted its position in BeiGene by 20.5% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 447 shares of the company’s stock valued at $80,000 after acquiring an additional 76 shares in the last quarter. Benjamin F. Edwards & Company Inc. bought a new stake in BeiGene during the 4th quarter valued at $98,000. Finally, Steward Partners Investment Advisory LLC lifted its holdings in shares of BeiGene by 73.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 694 shares of the company’s stock valued at $125,000 after purchasing an additional 294 shares during the last quarter. Institutional investors own 48.55% of the company’s stock.

BeiGene Company Profile

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.