Morgan Stanley Lowers Beigene (NASDAQ:BGNE) Price Target to $207.00

Beigene (NASDAQ:BGNE) had its price target cut by Morgan Stanley from $210.00 to $207.00 in a research note published on Monday, BenzingaRatingsTable reports. They currently have an overweight rating on the stock.

A number of other brokerages have also commented on BGNE. Piper Jaffray Companies reiterated a buy rating on shares of Beigene in a research note on Thursday, June 20th. BidaskClub lowered shares of Waterstone Financial from a hold rating to a sell rating in a research note on Friday, June 21st. Maxim Group set a $9.00 price target on shares of Pitney Bowes and gave the company a buy rating in a research note on Friday, May 31st. Sanford C. Bernstein began coverage on shares of Beigene in a research note on Tuesday, June 4th. They issued an outperform rating and a $201.00 price target on the stock. Finally, Zacks Investment Research upgraded shares of DLH from a sell rating to a hold rating in a research note on Tuesday, July 9th. One analyst has rated the stock with a sell rating, one has given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Beigene has a consensus rating of Buy and a consensus price target of $181.88.

Beigene stock opened at $124.40 on Monday. The business’s 50-day moving average price is $122.78. Beigene has a fifty-two week low of $105.19 and a fifty-two week high of $194.56. The company has a current ratio of 7.52, a quick ratio of 7.47 and a debt-to-equity ratio of 0.14.

Beigene (NASDAQ:BGNE) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($2.81) EPS for the quarter, beating the Zacks’ consensus estimate of ($3.15) by $0.34. Beigene had a negative net margin of 302.58% and a negative return on equity of 44.75%. The business had revenue of $77.83 million for the quarter, compared to analyst estimates of $55.79 million. During the same quarter in the prior year, the business earned ($2.03) EPS. Beigene’s quarterly revenue was up 139.2% on a year-over-year basis. Research analysts expect that Beigene will post -12.95 EPS for the current fiscal year.

In other Beigene news, CFO Howard Liang sold 23,200 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $130.21, for a total value of $3,020,872.00. Following the completion of the sale, the chief financial officer now owns 52,338 shares of the company’s stock, valued at approximately $6,814,930.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John Oyler sold 3,106 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $126.87, for a total transaction of $394,058.22. Following the completion of the sale, the chief executive officer now directly owns 17,221,155 shares of the company’s stock, valued at approximately $2,184,847,934.85. The disclosure for this sale can be found here. Insiders sold a total of 63,365 shares of company stock valued at $7,385,178 in the last three months. Insiders own 13.30% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Neuburgh Advisers LLC bought a new stake in Beigene in the 4th quarter valued at about $27,000. Advisor Group Inc. boosted its holdings in Beigene by 301.4% in the 4th quarter. Advisor Group Inc. now owns 285 shares of the company’s stock valued at $40,000 after purchasing an additional 214 shares during the period. PNC Financial Services Group Inc. bought a new stake in Beigene in the 4th quarter valued at about $46,000. Quadrant Capital Group LLC boosted its holdings in Beigene by 131.8% in the 1st quarter. Quadrant Capital Group LLC now owns 364 shares of the company’s stock valued at $47,000 after purchasing an additional 207 shares during the period. Finally, Marshall Wace North America L.P. bought a new stake in Beigene in the 1st quarter valued at about $76,000.

About Beigene

BeiGene, Ltd., a commercial-stage biotechnology company, develops and commercializes molecularly-targeted and immuno-oncology drugs for the treatment of cancer in the People's Republic of China, the United States, and internationally. Its commercial products include ABRAXANE, a chemotherapy product for the treatment of breast, non-small cell lung, pancreatic, and gastric cancers; 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.

Read More: Why are percentage decliners important?

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.