BeiGene (NASDAQ:BGNE) Releases Earnings Results, Beats Estimates By $0.66 EPS

BeiGene (NASDAQ:BGNE) released its quarterly earnings results on Wednesday. The company reported ($2.41) EPS for the quarter, topping analysts’ consensus estimates of ($3.07) by $0.66, Briefing.com reports. The company had revenue of $751.70 million for the quarter, compared to the consensus estimate of $670.09 million. BeiGene had a negative net margin of 35.86% and a negative return on equity of 23.12%. BeiGene’s revenue was up 67.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($3.34) EPS.

BeiGene Stock Performance

BGNE stock traded up $4.12 during trading hours on Thursday, reaching $168.56. The stock had a trading volume of 90,405 shares, compared to its average volume of 250,617. The stock has a 50-day simple moving average of $154.92 and a 200 day simple moving average of $166.53. The stock has a market capitalization of $16.12 billion, a PE ratio of -19.72 and a beta of 0.63. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.32 and a quick ratio of 2.09. BeiGene has a fifty-two week low of $126.97 and a fifty-two week high of $246.82.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on BGNE shares. TD Cowen increased their price objective on BeiGene from $236.00 to $254.00 and gave the company a “buy” rating in a research report on Thursday. Bank of America lowered their price objective on shares of BeiGene from $179.30 to $164.30 and set a “neutral” rating on the stock in a research report on Monday, April 8th. Guggenheim dropped their target price on BeiGene from $350.00 to $345.00 and set a “buy” rating on the stock in a research report on Tuesday, February 27th. Sanford C. Bernstein cut their price target on shares of BeiGene from $196.00 to $161.00 and set a “market perform” rating on the stock in a report on Wednesday, March 27th. Finally, JPMorgan Chase & Co. boosted their target price on BeiGene from $184.00 to $186.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, BeiGene presently has an average rating of “Moderate Buy” and a consensus price target of $251.93.

Insiders Place Their Bets

In other news, CFO Julia Aijun Wang sold 397 shares of BeiGene stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $167.08, for a total transaction of $66,330.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Julia Aijun Wang sold 397 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $167.08, for a total transaction of $66,330.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO John Oyler sold 37,668 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $164.02, for a total value of $6,178,305.36. Following the completion of the transaction, the chief executive officer now owns 12,332 shares of the company’s stock, valued at $2,022,694.64. The disclosure for this sale can be found here. Insiders sold a total of 64,781 shares of company stock valued at $10,222,381 over the last ninety days. 7.40% of the stock is currently owned by company insiders.

About BeiGene

BeiGene, Ltd., through its subsidiaries, engages in the development and commercialization of oncology medicines worldwide. Its products include BRUKINSA to treat various blood cancers; TEVIMBRA to treat various solid tumor and blood cancers; PARTRUVIX for the treatment of various solid tumor malignancies; XGEVA to treat bone metastases from solid tumors and multiple myeloma, as well as giant cell tumor of bone; BLINCYTO to treat acute lymphoblastic leukemia; KYPROLIS to treat R/R multiple myeloma; REVLIMID to treat multiple myeloma; VIDAZA to treat myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia; SYLVANT to treat idiopathic multicentric castleman disease; QARZIBA to treat neuroblastoma; POBEVCY to treat metastatic colorectal cancer, liver cancer, and non-small cell lung cancer (NSCLC); BAITUOWEI, to treat breast and prostate cancers; TAFINLAR and MEKINIST to treat NSCLC and melanoma; VOTRIENT for advance renal cell carcinoma; AFINITOR for advance renal cell carcinoma, NET, SEGA, & breast cancers; and ZYKADIA to treat ALK + NSCLC.