BeiGene (NASDAQ:BGNE) Stock Price Down 5%

BeiGene, Ltd. (NASDAQ:BGNE)’s stock price dropped 5% on Thursday . The stock traded as low as $158.38 and last traded at $159.52. Approximately 16,923 shares changed hands during trading, a decline of 93% from the average daily volume of 241,489 shares. The stock had previously closed at $167.92.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of BeiGene from $184.00 to $186.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. Sanford C. Bernstein dropped their price objective on BeiGene from $196.00 to $161.00 and set a “market perform” rating on the stock in a research note on Wednesday, March 27th. Bank of America decreased their target price on BeiGene from $179.30 to $164.30 and set a “neutral” rating for the company in a research report on Monday, April 8th. TD Cowen raised their price target on BeiGene from $236.00 to $254.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Finally, Guggenheim decreased their price objective on BeiGene from $350.00 to $345.00 and set a “buy” rating for the company in a report on Tuesday, February 27th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $251.93.

BeiGene Stock Performance

The stock has a 50-day moving average of $155.64 and a 200 day moving average of $165.86. The company has a quick ratio of 1.84, a current ratio of 2.08 and a debt-to-equity ratio of 0.06. The stock has a market cap of $14.91 billion, a PE ratio of -20.55 and a beta of 0.63.

BeiGene (NASDAQ:BGNE) last posted its earnings results on Wednesday, May 8th. The company reported ($2.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.07) by $0.66. The firm had revenue of $751.70 million for the quarter, compared to analyst estimates of $670.09 million. BeiGene had a negative return on equity of 21.70% and a negative net margin of 28.39%. BeiGene’s revenue was up 67.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($3.34) EPS. Equities analysts predict that BeiGene, Ltd. will post -8.2 EPS for the current fiscal year.

Insider Activity at BeiGene

In other news, CFO Julia Aijun Wang sold 397 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $167.08, for a total transaction of $66,330.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other BeiGene news, CFO Julia Aijun Wang sold 397 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $167.08, for a total value of $66,330.76. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO John Oyler sold 26,716 shares of the business’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $148.89, for a total transaction of $3,977,745.24. Following the transaction, the chief executive officer now owns 12,084 shares in the company, valued at $1,799,186.76. 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 in the last three months. 7.43% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BeiGene

Several institutional investors have recently made changes to their positions in BGNE. Swedbank AB acquired a new position in BeiGene during the first quarter worth $2,596,000. Price T Rowe Associates Inc. MD lifted its holdings in BeiGene by 6.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,026,094 shares of the company’s stock valued at $316,862,000 after purchasing an additional 117,905 shares in the last quarter. Affinity Asset Advisors LLC acquired a new stake in shares of BeiGene during the 1st quarter worth about $12,846,000. Capital International Sarl grew its holdings in shares of BeiGene by 8.8% during the first quarter. Capital International Sarl now owns 191,942 shares of the company’s stock worth $30,018,000 after buying an additional 15,605 shares in the last quarter. Finally, Capital International Ltd. CA raised its position in shares of BeiGene by 14.0% in the first quarter. Capital International Ltd. CA now owns 74,874 shares of the company’s stock valued at $11,710,000 after buying an additional 9,213 shares during the last quarter. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

BeiGene Company Profile

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.