Beigene (BGNE) – Research Analysts’ Weekly Ratings Changes

Beigene (NASDAQ: BGNE) has recently received a number of price target changes and ratings updates:

  • 2/7/2018 – Beigene had its “buy” rating reaffirmed by analysts at Maxim Group. They wrote, “BeiGene announced the commercial availability of Celgene’s VIDAZA. Recall that VIDAZA is an injectable nucleoside metabolic inhibitor for patients with Intermediate-2/high-risk myelodysplastic syndrome (MDS), AML with 20-30% bone marrow blasts and chronic myelomonocyte leukemia (CMML). The asset is the third product in BeiGene’s China commercial portfolio along with Abraxane and Revlimid and positions BeiGene to be a leader in the oncology space in China.””
  • 2/2/2018 – Beigene was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 1/31/2018 – Beigene was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 1/30/2018 – Beigene was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “BeiGene, Ltd. is a biotechnology company which focused on immuno-oncological therapeutics. The company’s clinical-stage drug candidates include BGB-3111, BGB-283, BGB-290, and BGB-A317. BeiGene, Ltd. is based in Camana Bay, Cayman Islands. “
  • 1/22/2018 – Beigene was given a new $120.00 price target on by analysts at Maxim Group. They now have a “buy” rating on the stock. They wrote, “BeiGene has announced pricing on a $750M public offering. The company intends to sell 7.4M ADS at a price of $101 per ADS, bringing the total share count to ~50M. After the underwriting discount, the company expects proceeds of ~$710M, bringing the estimated cash on the balance sheet to ~ $1B after including the portion of Celgene’s $263M upfront payment which was due in 4Q17 ($171M). Based on the 2017 burn rate of $260M (excluding nonrecurring collaboration revenue), the offering should extend BeiGene’s cash runway to the expected commercial launches of BGB-3111 and BGB- A317 in 2020. ○ Our model has been adjusted for the raise with several other factors being considered. After incorporating all these changes and rolling our metrics forward, our price target remains at $120. Recall that BGB-A317 is also being evaluated in pivotal trials in China for r/ r Hodgkin’s lymphoma and urothelial cancer, as well as a global P3 trial for NSCLC, bringing the number of ongoing pivotal trials to four. In addition, BeiGene has recently initiated a global PIII trial testing BGB-A317 (anti-PD-1 mAb tislelizumab) vs. Nexavar as a first-line treatment for advanced liver cancer. BGB-A317 is also in a global Phase III trial to treat non-small cell lung cancer (NSCLC), as well as two pivotal (China-based) trials to treat relapsed/ refractory Hodgkin’s lymphoma and urothelial cancer.””
  • 1/13/2018 – Beigene was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 1/8/2018 – Beigene was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “BeiGene, Ltd. is a biotechnology company which focused on immuno-oncological therapeutics. The company’s clinical-stage drug candidates include BGB-3111, BGB-283, BGB-290, and BGB-A317. BeiGene, Ltd. is based in Camana Bay, Cayman Islands. “
  • 1/8/2018 – Beigene had its “buy” rating reaffirmed by analysts at Cowen Inc.
  • 1/5/2018 – Beigene was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 1/3/2018 – Beigene was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 1/3/2018 – Beigene was given a new $120.00 price target on by analysts at Maxim Group. They now have a “buy” rating on the stock.
  • 12/18/2017 – Beigene was given a new $120.00 price target on by analysts at Maxim Group. They now have a “buy” rating on the stock.

Shares of Beigene Ltd (NASDAQ:BGNE) opened at $129.24 on Thursday. The firm has a market cap of $6,445.50, a P/E ratio of -99.42 and a beta of 0.61. The company has a quick ratio of 9.27, a current ratio of 9.33 and a debt-to-equity ratio of 0.20. Beigene Ltd has a 1-year low of $34.36 and a 1-year high of $142.00.

Beigene (NASDAQ:BGNE) last announced its quarterly earnings data on Monday, November 13th. The company reported $2.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.23 by $2.31. The business had revenue of $220.21 million during the quarter, compared to the consensus estimate of $1.55 million. During the same quarter in the previous year, the firm posted ($1.08) earnings per share. research analysts predict that Beigene Ltd will post -2.04 earnings per share for the current year.

In other Beigene news, Director Bros. Advisors Lp Baker acquired 1,980,198 shares of the stock in a transaction dated Thursday, January 18th. The stock was purchased at an average cost of $101.00 per share, for a total transaction of $199,999,998.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CMO Jane Huang sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $98.00, for a total transaction of $98,000.00. Following the completion of the sale, the chief marketing officer now owns 1,000 shares of the company’s stock, valued at $98,000. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 303,270 shares of company stock valued at $27,556,711. Company insiders own 19.90% of the company’s stock.

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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