BeiGene (NASDAQ:BGNE) Trading 4.3% Higher After Analyst Upgrade

BeiGene, Ltd. (NASDAQ:BGNE)’s stock price traded up 4.3% during mid-day trading on Thursday after TD Cowen raised their price target on the stock from $235.00 to $236.00. TD Cowen currently has a buy rating on the stock. BeiGene traded as high as $150.38 and last traded at $150.34. 109,824 shares traded hands during mid-day trading, a decline of 57% from the average session volume of 255,402 shares. The stock had previously closed at $144.12.

A number of other research analysts also recently commented on BGNE. Sanford C. Bernstein dropped their price objective on shares of BeiGene from $196.00 to $161.00 and set a “market perform” rating for the company in a research note on Wednesday, March 27th. JPMorgan Chase & Co. upped their price objective on shares of BeiGene from $184.00 to $186.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Guggenheim dropped their price objective on shares of BeiGene from $350.00 to $345.00 and set a “buy” rating for the company in a research note on Tuesday, February 27th. Finally, Bank of America dropped their price objective on shares of BeiGene from $179.30 to $164.30 and set a “neutral” rating for the company in a research note on Monday, April 8th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $250.13.

Insider Buying and Selling

In related 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 completion of the sale, 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 can be accessed through the SEC website. 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 value of $3,977,745.24. Following the completion of the sale, the chief executive officer now owns 12,084 shares of the company’s stock, valued at $1,799,186.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Julia Aijun Wang sold 397 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $167.08, for a total transaction of $66,330.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 64,781 shares of company stock valued at $10,222,381. 7.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BeiGene

Several institutional investors and hedge funds have recently made changes to their positions in the business. Simplicity Wealth LLC purchased a new position in shares of BeiGene during the 1st quarter valued at approximately $885,000. Venturi Wealth Management LLC boosted its stake in shares of BeiGene by 87.0% during the 1st quarter. Venturi Wealth Management LLC now owns 2,845 shares of the company’s stock valued at $445,000 after buying an additional 1,324 shares during the last quarter. LVW Advisors LLC boosted its stake in shares of BeiGene by 50.2% during the 1st quarter. LVW Advisors LLC now owns 1,957 shares of the company’s stock valued at $306,000 after buying an additional 654 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of BeiGene by 175.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 214,339 shares of the company’s stock valued at $38,658,000 after buying an additional 136,458 shares during the last quarter. Finally, Virtu Financial LLC boosted its stake in shares of BeiGene by 94.2% during the 4th quarter. Virtu Financial LLC now owns 5,319 shares of the company’s stock valued at $959,000 after buying an additional 2,580 shares during the last quarter. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

BeiGene Price Performance

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 company has a 50 day moving average price of $154.68 and a 200 day moving average price of $167.53.

BeiGene (NASDAQ:BGNE) last announced its quarterly earnings data on Monday, February 26th. The company reported ($3.53) earnings per share (EPS) 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 analysts’ expectations of $632.52 million. During the same period last year, the business posted ($4.29) earnings per share. The firm’s revenue for the quarter was up 66.9% on a year-over-year basis. As a group, analysts forecast that BeiGene, Ltd. will post -8.87 earnings per share for the current year.

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.