BidaskClub lowered shares of Beigene (NASDAQ:BGNE) from a hold rating to a sell rating in a report published on Tuesday.
Other equities analysts have also recently 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 on the stock. Cowen reissued a buy rating on shares of Beigene in a research report on Friday, August 10th. Maxim Group reissued 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 on the stock. Finally, Zacks Investment Research raised shares of Beigene from a sell rating to a hold rating in a research report on Wednesday, June 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $186.34.
Beigene stock opened at $126.84 on Tuesday. Beigene has a 52 week low of $77.54 and a 52 week high of $220.10. The company has a current ratio of 8.14, a quick ratio of 8.10 and a debt-to-equity ratio of 0.16. The company has a market cap of $9.26 billion, a price-to-earnings ratio of -56.79 and a beta of 0.67.
Beigene (NASDAQ:BGNE) last posted its earnings results on Thursday, August 9th. The company reported ($2.92) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.12) by ($0.80). Beigene had a negative return on equity of 24.14% and a negative net margin of 75.19%. The firm had revenue of $52.80 million for the quarter, compared to the consensus estimate of $22.53 million. During the same period in the prior year, the business earned ($1.52) EPS. Beigene’s quarterly revenue was up 5279999900.0% compared to the same quarter last year. As a group, sell-side analysts expect that Beigene will post -10.82 earnings per share for the current fiscal year.
In related news, Director Bros. Advisors Lp Baker purchased 5,814,100 shares of the firm’s stock in a transaction dated Thursday, August 2nd. The stock was bought at an average price of $108.00 per share, for a total transaction of $627,922,800.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CMO Amy C. Peterson sold 5,769 shares of the firm’s stock in a transaction that occurred on Thursday, August 23rd. The stock was sold at an average price of $169.12, for a total transaction of $975,653.28. Following the sale, the chief marketing officer now owns 4,661 shares of the company’s stock, valued at approximately $788,268.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,679 shares of company stock valued at $2,808,018. 14.10% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of the company. Baker BROS. Advisors LP increased its stake in shares of Beigene by 105.2% during the 2nd quarter. Baker BROS. Advisors LP now owns 11,959,824 shares of the company’s stock worth $1,838,584,000 after purchasing an additional 6,130,395 shares during the last quarter. FMR LLC increased its stake in shares of Beigene by 0.4% during the 2nd quarter. FMR LLC now owns 5,376,029 shares of the company’s stock worth $826,457,000 after purchasing an additional 19,547 shares during the last quarter. Morgan Stanley increased its stake in shares of Beigene by 39.6% during the 2nd quarter. Morgan Stanley now owns 500,476 shares of the company’s stock worth $76,939,000 after purchasing an additional 142,078 shares during the last quarter. BlackRock Inc. increased its stake in shares of Beigene by 23.1% during the 2nd quarter. BlackRock Inc. now owns 435,389 shares of the company’s stock worth $66,933,000 after purchasing an additional 81,748 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of Beigene during the 2nd quarter worth approximately $33,377,000. Institutional investors own 77.87% of the company’s stock.
Beigene Company Profile
BeiGene, Ltd., a clinical-stage biopharmaceutical company, develops and commercializes molecularly-targeted and immuno-oncology drugs for the treatment of cancer. Its commercial products include ABRAXANE, a solvent-free 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 high-risk myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia with 20% to 30% blasts and multi-lineage dysplasia.
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