BidaskClub upgraded shares of Beigene (NASDAQ:BGNE) from a strong sell rating to a sell rating in a research report report published on Friday morning.
Other equities analysts have also issued research reports about the stock. Guggenheim began coverage on shares of Beigene in a research report on Monday, September 17th. They set a buy rating for the company. Cowen reiterated a buy rating on shares of Beigene in a research report on Friday, August 10th. Maxim Group reiterated a buy rating and set a $215.00 target price on shares of Beigene in a research report on Thursday, September 20th. Leerink Swann began coverage on shares of Beigene in a research report on Monday, September 24th. They set an outperform rating and a $215.00 target price for the company. Finally, Zacks Investment Research lowered shares of Beigene from a hold rating to a sell rating in a research report on Tuesday, July 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Buy and a consensus target price of $186.34.
Shares of NASDAQ:BGNE opened at $126.50 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 8.14 and a quick ratio of 8.10. The stock has a market cap of $6.80 billion, a price-to-earnings ratio of -56.73 and a beta of 1.76. Beigene has a twelve month low of $77.54 and a twelve month high of $220.10.
Beigene (NASDAQ:BGNE) last issued its earnings results on Thursday, August 9th. The company reported ($2.92) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.12) by ($0.80). The business had revenue of $52.80 million for the quarter, compared to the consensus estimate of $22.53 million. Beigene had a negative return on equity of 24.14% and a negative net margin of 75.19%. Beigene’s revenue for the quarter was up 5279999900.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.52) EPS. Analysts predict that Beigene will post -10.86 EPS for the current fiscal year.
In other news, Director Xiaodong Wang sold 3,449 shares of the stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $158.77, for a total value of $547,597.73. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CMO Amy C. Peterson sold 5,769 shares of the stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $169.12, for a total transaction of $975,653.28. Following the completion of the sale, the chief marketing officer now directly owns 4,661 shares in the company, valued at $788,268.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,129 shares of company stock worth $2,389,512. Insiders own 14.10% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC lifted its holdings in shares of Beigene by 5,558.3% in the second quarter. Tower Research Capital LLC TRC now owns 679 shares of the company’s stock worth $104,000 after buying an additional 667 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new stake in Beigene in the second quarter valued at approximately $135,000. K.J. Harrison & Partners Inc purchased a new stake in Beigene in the third quarter valued at approximately $207,000. Virtu Financial LLC purchased a new stake in Beigene in the second quarter valued at approximately $212,000. Finally, Northern Trust Corp purchased a new stake in Beigene in the first quarter valued at approximately $302,000. 77.55% of the stock is currently owned by hedge funds and other institutional investors.
BeiGene, Ltd. develops and commercializes molecularly-targeted and immuno-oncology drugs for the treatment of cancer. Its commercial products include ABRAXANE, a 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 myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia with 20% to 30% blasts and multi-lineage dysplasia.
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