BeiGene (NASDAQ:BGNE) Shares Gap Up After Analyst Upgrade


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BeiGene, Ltd. (NASDAQ:BGNE) gapped up prior to trading on Tuesday after Piper Sandler raised their price target on the stock from $185.00 to $190.00. The stock had previously closed at $278.92, but opened at $306.99. BeiGene shares last traded at $303.51, with a volume of 553 shares changing hands.

Other equities analysts have also recently issued reports about the stock. BidaskClub cut shares of BeiGene from a “buy” rating to a “hold” rating in a research note on Tuesday, January 5th. Maxim Group cut shares of BeiGene from a “buy” rating to a “hold” rating in a research note on Friday, November 6th. ValuEngine raised shares of BeiGene from a “hold” rating to a “buy” rating in a research note on Tuesday, December 1st. LADENBURG THALM/SH SH raised shares of BeiGene from a “neutral” rating to a “buy” rating and set a $278.00 target price for the company in a research note on Tuesday, December 8th. Finally, Morgan Stanley raised their target price on shares of BeiGene from $270.00 to $310.00 and gave the company an “overweight” rating in a research note on Wednesday, November 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. BeiGene presently has an average rating of “Hold” and an average target price of $258.04.

In related news, CFO Howard Liang sold 91,900 shares of the company’s stock in a transaction that occurred on Monday, December 14th. The stock was sold at an average price of $229.04, for a total value of $21,048,776.00. Following the sale, the chief financial officer now directly owns 1,573,715 shares in the company, valued at $360,443,683.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bros. Advisors Lp Baker sold 121,154 shares of the company’s stock in a transaction that occurred on Monday, January 4th. The shares were sold at an average price of $220.50, for a total value of $26,714,457.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 222,554 shares of company stock valued at $50,588,748. Insiders own 9.00% of the company’s stock.

Several institutional investors have recently bought and sold shares of BGNE. Boxer Capital LLC boosted its holdings in shares of BeiGene by 20.5% during the 3rd quarter. Boxer Capital LLC now owns 1,114,188 shares of the company’s stock worth $319,148,000 after buying an additional 189,188 shares in the last quarter. USS Investment Management Ltd acquired a new position in shares of BeiGene in the 3rd quarter valued at about $34,344,000. Sands Capital Management LLC boosted its holdings in shares of BeiGene by 30.8% in the 3rd quarter. Sands Capital Management LLC now owns 466,595 shares of the company’s stock valued at $133,651,000 after buying an additional 109,754 shares during the period. California Public Employees Retirement System boosted its stake in BeiGene by 82.1% during the 3rd quarter. California Public Employees Retirement System now owns 240,287 shares of the company’s stock valued at $68,828,000 after purchasing an additional 108,324 shares during the period. Finally, State Street Corp boosted its stake in BeiGene by 9.8% during the 3rd quarter. State Street Corp now owns 855,928 shares of the company’s stock valued at $245,172,000 after purchasing an additional 76,257 shares during the period. Hedge funds and other institutional investors own 60.65% of the company’s stock.

The company has a debt-to-equity ratio of 0.04, a quick ratio of 7.64 and a current ratio of 7.69. The business’s 50 day simple moving average is $254.09 and its 200-day simple moving average is $254.76. The stock has a market capitalization of $28.20 billion, a price-to-earnings ratio of -15.35 and a beta of 0.91.

BeiGene (NASDAQ:BGNE) last released its earnings results on Thursday, November 5th. The company reported ($4.81) EPS for the quarter, missing analysts’ consensus estimates of ($4.12) by ($0.69). The business had revenue of $91.08 million during the quarter, compared to the consensus estimate of $78.50 million. BeiGene had a negative return on equity of 56.81% and a negative net margin of 569.22%. As a group, sell-side analysts expect that BeiGene, Ltd. will post -17.83 EPS for the current year.

BeiGene Company Profile (NASDAQ:BGNE)

BeiGene, Ltd., a commercial-stage biotechnology company, develops and commercializes molecularly-targeted and immuno-oncology cancer therapeutics in the People's Republic of China, the United States, and internationally. Its commercial products include BRUKINSA to treat R/R mantle cell lymphoma; Tislelizumab to treat R/R classical Hodgkin's lymphoma; ABRAXANE to treat breast cancer; REVLIMID to treat multiple myeloma; VIDAZA to treat myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia; XGEVA to treat giant cell tumor of bone; KYPROLIS to treat multiple myeloma; BLINCYTO to treat acute lymphocytic leukemia; SYLVANT to treat idiopathic multicentric castleman disease; and QARZIBA to treat neuroblastoma.

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