$46.95 Million in Sales Expected for Beigene Ltd (BGNE) This Quarter

Wall Street analysts expect Beigene Ltd (NASDAQ:BGNE) to announce $46.95 million in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Beigene’s earnings, with the highest sales estimate coming in at $60.85 million and the lowest estimate coming in at $30.00 million. Beigene posted sales of $220.21 million during the same quarter last year, which suggests a negative year-over-year growth rate of 78.7%. The company is scheduled to report its next earnings results on Monday, November 12th.

According to Zacks, analysts expect that Beigene will report full-year sales of $209.87 million for the current financial year, with estimates ranging from $145.00 million to $267.27 million. For the next fiscal year, analysts forecast that the business will report sales of $263.47 million, with estimates ranging from $140.00 million to $347.99 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Beigene.

Beigene (NASDAQ:BGNE) last announced its quarterly earnings results on Thursday, August 9th. The company reported ($2.92) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($2.12) by ($0.80). The firm had revenue of $52.80 million during 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%. The business’s revenue for the quarter was up 5279999900.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.52) EPS.

A number of equities analysts recently issued reports on BGNE shares. Zacks Investment Research cut shares of Beigene from a “hold” rating to a “sell” rating in a research note on Tuesday, July 10th. Piper Jaffray Companies set a $200.00 price target on shares of Beigene and gave the stock a “buy” rating in a research note on Monday, July 23rd. BidaskClub upgraded shares of Beigene from a “hold” rating to a “buy” rating in a research note on Thursday, July 26th. Maxim Group reiterated a “buy” rating and issued a $225.00 price target on shares of Beigene in a research note on Monday, July 30th. Finally, Cowen reiterated a “buy” rating on shares of Beigene in a research note on Friday, August 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $186.34.

In other Beigene news, Director Xiaodong Wang sold 3,449 shares of the business’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $158.77, for a total value of $547,597.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Donald W. Glazer sold 2,000 shares of the business’s stock in a transaction dated Thursday, August 30th. The stock was sold at an average price of $179.00, for a total value of $358,000.00. Following the completion of the transaction, the director now directly owns 14,384 shares of the company’s stock, valued at approximately $2,574,736. The disclosure for this sale can be found here. In the last three months, insiders sold 14,129 shares of company stock valued at $2,389,512. 14.10% of the stock is owned by insiders.

A number of large investors have recently modified their holdings of BGNE. Tower Research Capital LLC TRC raised its position in Beigene by 5,558.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 679 shares of the company’s stock worth $104,000 after buying an additional 667 shares during the last quarter. Rockefeller Capital Management L.P. purchased a new position in Beigene in the 2nd quarter worth about $135,000. K.J. Harrison & Partners Inc purchased a new position in Beigene in the 3rd quarter worth about $207,000. Virtu Financial LLC purchased a new position in Beigene in the 2nd quarter worth about $212,000. Finally, Northern Trust Corp purchased a new position in Beigene in the 1st quarter worth about $302,000. 77.75% of the stock is owned by institutional investors and hedge funds.

Shares of Beigene stock opened at $126.50 on Friday. Beigene has a 1 year low of $77.54 and a 1 year high of $220.10. The company has a quick ratio of 8.10, a current ratio of 8.14 and a debt-to-equity ratio of 0.16.

About Beigene

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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