BeiGene (NASDAQ:BGNE) Hits New 12-Month High Following Analyst Upgrade

BeiGene, Ltd. (NASDAQ:BGNE – Get Rating)’s share price hit a new 52-week high on Friday after SVB Leerink raised their price target on the stock from $236.00 to $300.00. SVB Leerink currently has an outperform rating on the stock. BeiGene traded as high as $285.64 and last traded at $274.57, with a volume of 577 shares traded. The stock had previously closed at $274.50.

BGNE has been the topic of a number of other reports. Daiwa Capital Markets started coverage on shares of BeiGene in a report on Wednesday, January 11th. They issued a “buy” rating and a $308.00 price target on the stock. Cowen upped their price target on shares of BeiGene from $200.00 to $213.00 in a report on Thursday, November 10th. StockNews.com raised shares of BeiGene from a “sell” rating to a “hold” rating in a research report on Saturday, November 19th. Guggenheim upped their price target on shares of BeiGene from $290.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Morgan Stanley upped their price target on shares of BeiGene from $290.00 to $295.00 and gave the stock an “overweight” rating in a research report on Thursday, October 13th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, BeiGene has a consensus rating of “Moderate Buy” and an average target price of $282.14.

Insider Transactions at BeiGene

In other news, CEO John Oyler sold 25,000 shares of the stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $206.84, for a total value of $5,171,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Xiaodong Wang sold 3,013 shares of the stock in a transaction on Tuesday, December 13th. The shares were sold at an average price of $211.33, for a total value of $636,737.29. Following the sale, the insider now owns 5,577,556 shares in the company, valued at $1,178,704,909.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John Oyler sold 25,000 shares of the stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $206.84, for a total transaction of $5,171,000.00. The disclosure for this sale can be found here. Insiders have sold 43,033 shares of company stock worth $9,407,504 over the last 90 days. 7.50% of the stock is currently owned by company insiders.

Institutional Trading of BeiGene

Hedge funds have recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in BeiGene during the second quarter worth $6,443,000. KBC Group NV boosted its holdings in BeiGene by 2.3% during the second quarter. KBC Group NV now owns 14,523 shares of the company’s stock worth $2,351,000 after buying an additional 331 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in BeiGene during the second quarter worth $65,000. Primecap Management Co. CA boosted its holdings in BeiGene by 8.7% during the second quarter. Primecap Management Co. CA now owns 4,031,449 shares of the company’s stock worth $652,490,000 after buying an additional 322,645 shares in the last quarter. Finally, UBS Asset Management Americas Inc. boosted its holdings in BeiGene by 1.7% during the second quarter. UBS Asset Management Americas Inc. now owns 188,005 shares of the company’s stock worth $30,429,000 after buying an additional 3,134 shares in the last quarter. 51.43% of the stock is owned by hedge funds and other institutional investors.

BeiGene Price Performance

The stock’s fifty day moving average is $217.59 and its 200-day moving average is $185.83. The stock has a market capitalization of $27.70 billion, a PE ratio of -12.48 and a beta of 0.78. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.07 and a quick ratio of 3.87.

BeiGene (NASDAQ:BGNE – Get Rating) last posted its quarterly earnings data on Wednesday, November 9th. The company reported ($5.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($4.02) by ($1.37). The company had revenue of $387.63 million for the quarter, compared to analysts’ expectations of $360.25 million. BeiGene had a negative net margin of 171.94% and a negative return on equity of 38.92%. As a group, equities analysts predict that BeiGene, Ltd. will post -17.64 earnings per share for the current fiscal year.

BeiGene Company Profile

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BeiGene, Ltd., a biotechnology company, focuses on discovering, developing, manufacturing, and commercializing various medicines worldwide. 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).