SVB Leerink Raises BeiGene (NASDAQ:BGNE) Price Target to $300.00

BeiGene (NASDAQ:BGNEGet Rating) had its target price upped by stock analysts at SVB Leerink from $236.00 to $300.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has an “outperform” rating on the stock. SVB Leerink’s price target points to a potential upside of 12.60% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Guggenheim upped their price objective on BeiGene from $290.00 to $350.00 and gave the company a “buy” rating in a research report on Friday. Cowen increased their price target on BeiGene from $200.00 to $213.00 in a report on Thursday, November 10th. Daiwa Capital Markets initiated coverage on BeiGene in a report on Wednesday, January 11th. They issued a “buy” rating and a $308.00 price target on the stock. StockNews.com upgraded BeiGene from a “sell” rating to a “hold” rating in a report on Saturday, November 19th. Finally, Cowen increased their price target on BeiGene from $200.00 to $213.00 in a report on Thursday, November 10th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $282.14.

BeiGene Price Performance

Shares of BeiGene stock opened at $266.42 on Friday. BeiGene has a 12 month low of $118.18 and a 12 month high of $280.62. The company has a current ratio of 4.07, a quick ratio of 3.87 and a debt-to-equity ratio of 0.04. The stock has a 50 day moving average of $217.59 and a 200 day moving average of $185.77. The firm has a market cap of $27.70 billion, a PE ratio of -12.48 and a beta of 0.78.

BeiGene (NASDAQ:BGNEGet Rating) last issued its quarterly earnings data on Wednesday, November 9th. The company reported ($5.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($4.02) by ($1.37). BeiGene had a negative net margin of 171.94% and a negative return on equity of 38.92%. The company had revenue of $387.63 million for the quarter, compared to analysts’ expectations of $360.25 million. On average, research analysts expect that BeiGene will post -17.64 EPS for the current fiscal year.

Insiders Place Their Bets

In other BeiGene news, insider Xiaodong Wang sold 1,987 shares of the firm’s stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $210.14, for a total transaction of $417,548.18. Following the transaction, the insider now directly owns 5,629,556 shares in the company, valued at approximately $1,182,994,897.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other BeiGene news, insider Xiaodong Wang sold 1,987 shares of the stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $210.14, for a total transaction of $417,548.18. Following the sale, the insider now owns 5,629,556 shares of the company’s stock, valued at approximately $1,182,994,897.84. The sale was disclosed in a legal filing 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 shares were sold at an average price of $206.84, for a total value 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 in the last ninety days. 7.50% of the stock is owned by company insiders.

Institutional Trading of BeiGene

A number of institutional investors have recently made changes to their positions in the business. Primecap Management Co. CA boosted its position in shares of BeiGene by 17.5% in the 3rd quarter. Primecap Management Co. CA now owns 4,734,979 shares of the company’s stock worth $638,370,000 after purchasing an additional 703,530 shares in the last quarter. Temasek Holdings Private Ltd lifted its position in BeiGene by 4.8% during the 3rd quarter. Temasek Holdings Private Ltd now owns 3,109,970 shares of the company’s stock worth $419,286,000 after acquiring an additional 143,507 shares during the period. BlackRock Inc. lifted its position in BeiGene by 3.8% during the 1st quarter. BlackRock Inc. now owns 2,699,444 shares of the company’s stock worth $509,114,000 after acquiring an additional 98,316 shares during the period. Bank of America Corp DE lifted 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 acquiring an additional 180,470 shares during the period. Finally, Pictet Asset Management SA lifted its position in BeiGene by 301.5% during the 2nd quarter. Pictet Asset Management SA now owns 308,919 shares of the company’s stock worth $49,999,000 after acquiring an additional 231,976 shares during the period. Institutional investors and hedge funds own 51.43% of the company’s stock.

About BeiGene

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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).

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Analyst Recommendations for BeiGene (NASDAQ:BGNE)

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