TD Cowen Raises BeiGene (NASDAQ:BGNE) Price Target to $236.00

BeiGene (NASDAQ:BGNE) had its price objective upped by research analysts at TD Cowen from $235.00 to $236.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s price objective indicates a potential upside of 64.59% from the stock’s current price.

Several other analysts have also issued reports on the company. Guggenheim lowered their target price on BeiGene from $350.00 to $345.00 and set a “buy” rating on the stock in a research note on Tuesday, February 27th. JPMorgan Chase & Co. boosted their price objective on BeiGene from $184.00 to $186.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Bank of America cut their target price on shares of BeiGene from $179.30 to $164.30 and set a “neutral” rating for the company in a research report on Monday, April 8th. Finally, Sanford C. Bernstein lowered their price target on shares of BeiGene from $196.00 to $161.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 27th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $250.13.

BeiGene Stock Performance

Shares of BeiGene stock traded up $4.40 during trading hours on Wednesday, hitting $143.39. 112,294 shares of the company’s stock traded hands, compared to its average volume of 256,079. The company has a fifty day simple moving average of $154.71 and a 200-day simple moving average of $167.69. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.32 and a quick ratio of 2.09. The stock has a market capitalization of $13.71 billion, a price-to-earnings ratio of -16.82 and a beta of 0.61. BeiGene has a 12-month low of $126.97 and a 12-month high of $266.67.

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

Insider Activity

In other BeiGene news, CEO John Oyler sold 26,716 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $148.89, for a total value of $3,977,745.24. Following the completion of the transaction, the chief executive officer now owns 12,084 shares of the company’s stock, valued at approximately $1,799,186.76. The transaction was disclosed in a filing with the SEC, which is available through this link. In other BeiGene news, CEO John Oyler sold 26,716 shares of the stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $148.89, for a total transaction of $3,977,745.24. Following the transaction, the chief executive officer now directly owns 12,084 shares in the company, valued at $1,799,186.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Julia Aijun Wang sold 397 shares of the firm’s 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. Insiders sold 64,781 shares of company stock worth $10,222,381 in the last three months. Corporate insiders own 7.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Toronto Dominion Bank lifted its holdings in BeiGene by 166.4% in the third quarter. Toronto Dominion Bank now owns 333 shares of the company’s stock valued at $60,000 after acquiring an additional 208 shares during the period. Knights of Columbus Asset Advisors LLC boosted its stake in shares of BeiGene by 20.5% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 447 shares of the company’s stock worth $80,000 after acquiring an additional 76 shares during the last quarter. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of BeiGene in the 4th quarter worth $98,000. PNC Financial Services Group Inc. raised its holdings in BeiGene by 123.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 732 shares of the company’s stock worth $132,000 after purchasing an additional 405 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in BeiGene during the fourth quarter valued at $183,000. 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.