BeiGene (BGNE) Expected to Post Quarterly Sales of $21.54 Million

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Wall Street brokerages forecast that BeiGene (NASDAQ:BGNE) will report sales of $21.54 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for BeiGene’s earnings. The highest sales estimate is $25.58 million and the lowest is $17.50 million. The business is expected to issue its next quarterly earnings report on Wednesday, August 8th.

According to Zacks, analysts expect that BeiGene will report full-year sales of $153.23 million for the current year, with estimates ranging from $85.00 million to $207.50 million. For the next financial year, analysts expect that the firm will post sales of $193.49 million per share, with estimates ranging from $95.00 million to $332.00 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow BeiGene.

BeiGene (NASDAQ:BGNE) last released its quarterly earnings results on Wednesday, May 9th. The company reported ($2.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.62) by ($0.41). The firm had revenue of $32.54 million during the quarter, compared to analyst estimates of $16.88 million. During the same period in the previous year, the company posted ($1.27) EPS.

A number of equities analysts have recently weighed in on BGNE shares. Maxim Group reiterated a “buy” rating and set a $160.00 price target (up from $144.00) on shares of BeiGene in a report on Thursday, March 1st. LADENBURG THALM/SH SH reissued a “buy” rating and set a $172.00 target price on shares of BeiGene in a research note on Thursday, March 1st. They noted that the move was a valuation call. Robert W. Baird reissued a “hold” rating and set a $138.00 target price on shares of BeiGene in a research note on Thursday, March 1st. BidaskClub raised BeiGene from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 21st. Finally, Morgan Stanley increased their target price on BeiGene from $93.00 to $200.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 21st. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. BeiGene presently has a consensus rating of “Buy” and an average price target of $173.00.

Shares of NASDAQ BGNE traded down $6.46 during mid-day trading on Tuesday, reaching $168.49. 1,076,190 shares of the company’s stock were exchanged, compared to its average volume of 322,485. The stock has a market cap of $9.06 billion, a PE ratio of -75.56 and a beta of 0.36. The company has a current ratio of 11.18, a quick ratio of 11.12 and a debt-to-equity ratio of 0.12. BeiGene has a 52-week low of $38.14 and a 52-week high of $220.10.

In related news, CFO Howard Liang sold 40,000 shares of the stock in a transaction dated Monday, March 19th. The stock was sold at an average price of $160.27, for a total transaction of $6,410,800.00. Following the transaction, the chief financial officer now owns 15,872 shares of the company’s stock, valued at approximately $2,543,805.44. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 14.10% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Guggenheim Capital LLC lifted its stake in BeiGene by 11.1% during the 1st quarter. Guggenheim Capital LLC now owns 5,583 shares of the company’s stock worth $938,000 after acquiring an additional 558 shares in the last quarter. Bank of Montreal Can raised its position in BeiGene by 3.8% in the 4th quarter. Bank of Montreal Can now owns 16,186 shares of the company’s stock valued at $1,581,000 after purchasing an additional 600 shares in the last quarter. Comerica Bank raised its position in BeiGene by 34.4% in the 1st quarter. Comerica Bank now owns 2,880 shares of the company’s stock valued at $495,000 after purchasing an additional 737 shares in the last quarter. Quantbot Technologies LP acquired a new stake in BeiGene in the 1st quarter valued at about $290,000. Finally, Northern Trust Corp acquired a new stake in BeiGene in the 1st quarter valued at about $302,000. 67.15% of the stock is currently owned by hedge funds and other institutional investors.

About BeiGene

BeiGene, Ltd., a clinical-stage biopharmaceutical company, develops and commercializes molecularly-targeted and immuno-oncology drugs for the treatment of cancer. Its commercial products include ABRAXANE, a solvent-free chemotherapy product for the treatment of breast, non-small cell lung, pancreatic, and gastric cancer; REVLIMID, an oral immunomodulatory drug for the treatment of multiple myeloma in combination with dexamethasone; and VIDAZA, a pyrimidine nucleoside analog for the treatment of intermediate-2 and high-risk myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia with 20% to 30% blasts and multi-lineage dysplasia.

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Earnings History and Estimates for BeiGene (NASDAQ:BGNE)

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