Beigene Ltd (BGNE) Expected to Announce Earnings of -$0.97 Per Share

Equities research analysts forecast that Beigene Ltd (NASDAQ:BGNE) will report earnings per share (EPS) of ($0.97) for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for Beigene’s earnings. The lowest EPS estimate is ($1.08) and the highest is ($0.86). Beigene also posted earnings per share of ($0.97) during the same quarter last year. The company is scheduled to announce its next earnings report on Wednesday, May 10th.

On average, analysts expect that Beigene will report full-year earnings of ($3.98) per share for the current fiscal year, with EPS estimates ranging from ($4.36) to ($3.60). For the next financial year, analysts forecast that the company will report earnings of ($4.01) per share, with EPS estimates ranging from ($4.33) to ($3.70). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that cover Beigene.

Beigene (NASDAQ:BGNE) last released its quarterly earnings results on Wednesday, March 22nd. The company reported ($1.05) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.86) by $0.19. The business had revenue of $1 million for the quarter, compared to the consensus estimate of $3.75 million. During the same period last year, the business earned ($3.05) EPS. Beigene’s revenue for the quarter was down 78.6% on a year-over-year basis.

A number of research analysts recently commented on the stock. Maxim Group set a $52.00 price target on shares of Beigene and gave the company a “buy” rating in a research note on Thursday, March 2nd. Zacks Investment Research lowered shares of Beigene from a “buy” rating to a “hold” rating in a research note on Tuesday, January 17th.

In related news, CEO John Oyler sold 64,963 shares of the company’s stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $40.55, for a total value of $2,634,249.65. Following the transaction, the chief executive officer now owns 378,383 shares in the company, valued at approximately $15,343,430.65. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Xiaodong Wang sold 14,461 shares of the company’s stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $40.80, for a total transaction of $590,008.80. Following the completion of the transaction, the director now owns 65,030 shares in the company, valued at approximately $2,653,224. The disclosure for this sale can be found here. In the last quarter, insiders sold 381,561 shares of company stock worth $15,180,155.

A number of hedge funds have recently bought and sold shares of BGNE. Baker BROS. Advisors LP acquired a new stake in Beigene during the third quarter worth about $58,930,000. Orbimed Advisors LLC acquired a new stake in Beigene during the fourth quarter worth about $27,436,000. Hillhouse Capital Management Ltd. acquired a new stake in Beigene during the third quarter worth about $21,567,000. FMR LLC increased its stake in Beigene by 18.1% in the fourth quarter. FMR LLC now owns 3,880,425 shares of the company’s stock worth $117,810,000 after buying an additional 593,896 shares in the last quarter. Finally, Boxer Capital LLC increased its stake in Beigene by 72.2% in the fourth quarter. Boxer Capital LLC now owns 850,000 shares of the company’s stock worth $25,806,000 after buying an additional 356,370 shares in the last quarter. 33.01% of the stock is owned by hedge funds and other institutional investors.

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Shares of Beigene (NASDAQ:BGNE) opened at 37.44 on Wednesday. The company’s market capitalization is $1.34 billion. The firm’s 50-day moving average is $38.04 and its 200-day moving average is $34.94. Beigene has a 12-month low of $24.53 and a 12-month high of $42.09.

About Beigene

BeiGene, Ltd. is a clinical-stage biopharmaceutical company. The Company is focused in the discovery and development of molecularly targeted and immuno-oncology drugs for the treatment of cancer. The Company had used its cancer biology platform to develop four clinical-stage drug candidates, such as BGB-3111, BGB-A317, BGB-290 and BGB-283, as of December 31, 2016.

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