BeiGene (NASDAQ:BGNE) Rating Increased to Hold at StockNews.com

BeiGene (NASDAQ:BGNEGet Rating) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

A number of other research analysts also recently commented on BGNE. Morgan Stanley lifted their price objective on shares of BeiGene from $330.00 to $338.00 and gave the company an “overweight” rating in a research report on Tuesday, April 12th. SVB Leerink downgraded shares of BeiGene from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $300.00 to $177.00 in a research report on Thursday, March 17th. Finally, Zacks Investment Research downgraded shares of BeiGene from a “buy” rating to a “hold” rating in a research report on Tuesday, May 10th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $281.25.

BGNE stock traded up $7.48 during midday trading on Wednesday, hitting $162.05. The company’s stock had a trading volume of 365,361 shares, compared to its average volume of 310,115. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.05 and a quick ratio of 4.87. BeiGene has a twelve month low of $118.18 and a twelve month high of $426.56. The company’s fifty day moving average price is $158.47 and its 200 day moving average price is $212.57. The stock has a market capitalization of $16.67 billion, a P/E ratio of -8.07 and a beta of 0.87.

BeiGene (NASDAQ:BGNEGet Rating) last issued its quarterly earnings results on Thursday, May 5th. The company reported ($4.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($4.12) by ($0.12). BeiGene had a negative net margin of 218.25% and a negative return on equity of 40.10%. The business had revenue of $306.60 million during the quarter, compared to analyst estimates of $300.41 million. The company’s quarterly revenue was down 49.4% on a year-over-year basis. Equities analysts expect that BeiGene will post -15.13 EPS for the current fiscal year.

In other BeiGene news, insider Lai Wang sold 660 shares of BeiGene stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $142.00, for a total value of $93,720.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Xiaobin Wu sold 6,725 shares of BeiGene stock in a transaction dated Thursday, May 5th. The stock was sold at an average price of $164.35, for a total transaction of $1,105,253.75. The disclosure for this sale can be found here. Insiders have sold a total of 10,795 shares of company stock valued at $1,683,160 in the last ninety days. 8.90% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of the business. Capital International Investors raised its position in shares of BeiGene by 11.2% in the 1st quarter. Capital International Investors now owns 7,055,295 shares of the company’s stock valued at $1,337,378,000 after buying an additional 711,396 shares in the last quarter. BlackRock Inc. raised its position in shares of BeiGene by 3.8% in the 1st quarter. BlackRock Inc. now owns 2,699,444 shares of the company’s stock valued at $509,114,000 after buying an additional 98,316 shares in the last quarter. Capital Group International Inc. CA raised its position in shares of BeiGene by 14.1% in the 1st quarter. Capital Group International Inc. CA now owns 1,140,960 shares of the company’s stock valued at $215,185,000 after buying an additional 141,133 shares in the last quarter. State Street Corp raised its position in shares of BeiGene by 0.5% in the 4th quarter. State Street Corp now owns 909,355 shares of the company’s stock valued at $246,372,000 after buying an additional 4,273 shares in the last quarter. Finally, Bank of America Corp DE increased its position in BeiGene by 77.1% during the 1st quarter. Bank of America Corp DE now owns 414,466 shares of the company’s stock worth $78,169,000 after purchasing an additional 180,470 shares in the last quarter.

BeiGene Company Profile (Get Rating)

BeiGene, Ltd. discovers, develops, manufactures, and commercializes medicines for cancer therapeutics in the People's Republic of China, the United States, and internationally. Its products include BRUKINSA to treat relapsed/refractory (R/R) mantle cell lymphoma; Tislelizumab to treat R/R classical Hodgkin's lymphoma; 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; BLINCYTO to treat acute lymphoblastic leukemia; KYPROLIS to treat R/R multiple myeloma; SYLVANT to treat idiopathic multicentric castleman disease; QARZIBA to treat neuroblastoma; Pamiparib for the treatment of various solid tumors; and Pobevcy to treat metastatic colorectal cancer, liver cancer, and non-small cell lung cancer (NSCLC).

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Analyst Recommendations for BeiGene (NASDAQ:BGNE)

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