Beigene Ltd (BGNE) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Beigene Ltd (NASDAQ:BGNE) have been assigned a consensus rating of “Buy” from the fourteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $178.72.

A number of equities research analysts have recently commented on the stock. Maxim Group reiterated a “buy” rating and issued a $215.00 target price on shares of Beigene in a research report on Thursday, September 20th. Guggenheim assumed coverage on shares of Beigene in a research report on Monday, September 17th. They issued a “buy” rating for the company. Cowen reiterated a “buy” rating on shares of Beigene in a research report on Thursday, September 20th. BidaskClub upgraded shares of Beigene from a “strong sell” rating to a “sell” rating in a research report on Tuesday, November 20th. Finally, Zacks Investment Research raised shares of Beigene from a “hold” rating to a “buy” rating and set a $147.00 price objective for the company in a report on Tuesday.

In other Beigene news, CMO Jane Huang sold 3,000 shares of the stock in a transaction dated Monday, November 26th. The shares were sold at an average price of $139.58, for a total transaction of $418,740.00. Following the completion of the transaction, the chief marketing officer now owns 271,621 shares of the company’s stock, valued at $37,912,859.18. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Xiaodong Wang sold 5,000 shares of the stock in a transaction dated Monday, November 19th. The stock was sold at an average price of $124.30, for a total transaction of $621,500.00. Following the transaction, the director now directly owns 3,900 shares of the company’s stock, valued at approximately $484,770. The disclosure for this sale can be found here. Insiders sold 130,122 shares of company stock valued at $17,156,904 in the last three months. 13.30% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. FMR LLC boosted its stake in Beigene by 1.7% during the third quarter. FMR LLC now owns 5,466,101 shares of the company’s stock worth $941,371,000 after buying an additional 90,072 shares during the period. Hsbc Holdings PLC boosted its stake in shares of Beigene by 1,214.2% in the third quarter. Hsbc Holdings PLC now owns 2,628,418 shares of the company’s stock valued at $452,666,000 after purchasing an additional 2,428,418 shares during the period. Capital Research Global Investors purchased a new position in shares of Beigene in the third quarter valued at approximately $314,859,000. Canada Pension Plan Investment Board boosted its stake in shares of Beigene by 12.1% in the third quarter. Canada Pension Plan Investment Board now owns 1,115,870 shares of the company’s stock valued at $192,175,000 after purchasing an additional 120,870 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Beigene by 11.0% in the third quarter. Vanguard Group Inc. now owns 1,064,236 shares of the company’s stock valued at $183,283,000 after purchasing an additional 105,702 shares during the period. 76.70% of the stock is owned by institutional investors.

Shares of NASDAQ BGNE opened at $139.19 on Friday. The stock has a market capitalization of $8.48 billion, a PE ratio of -63.84 and a beta of 1.70. The company has a quick ratio of 11.47, a current ratio of 11.57 and a debt-to-equity ratio of 0.09. Beigene has a 52 week low of $95.34 and a 52 week high of $220.10.

Beigene (NASDAQ:BGNE) last issued its earnings results on Wednesday, November 7th. The company reported ($2.53) EPS for the quarter, beating the Zacks’ consensus estimate of ($2.97) by $0.44. The business had revenue of $54.20 million during the quarter, compared to analysts’ expectations of $47.06 million. Beigene had a negative net margin of 320.08% and a negative return on equity of 38.44%. The company’s quarterly revenue was down 75.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.54 earnings per share. As a group, equities research analysts predict that Beigene will post -10.09 EPS for the current fiscal year.

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.

Featured Article: Back-End Load

Analyst Recommendations for Beigene (NASDAQ:BGNE)

Receive News & Ratings for Beigene Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Beigene and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply