BeiGene (NASDAQ:BGNE) Shares Gap Up to $200.32

BeiGene, Ltd. (NASDAQ:BGNE)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $200.32, but opened at $205.00. BeiGene shares last traded at $208.14, with a volume of 37,142 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on BGNE shares. StockNews.com assumed coverage on BeiGene in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. Macquarie assumed coverage on BeiGene in a report on Monday, September 11th. They set an “outperform” rating and a $259.00 price objective for the company. 22nd Century Group reiterated a “downgrade” rating on shares of BeiGene in a research note on Friday, June 30th. Morgan Stanley cut their price target on BeiGene from $321.00 to $319.00 and set an “overweight” rating for the company in a research note on Tuesday, August 29th. Finally, JPMorgan Chase & Co. boosted their price target on BeiGene from $297.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, August 7th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $276.25.

BeiGene Stock Up 3.9 %

The firm has a market capitalization of $20.15 billion, a price-to-earnings ratio of -12.02 and a beta of 0.71. The stock has a fifty day moving average of $200.04 and a two-hundred day moving average of $217.20. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.13 and a quick ratio of 2.90.

BeiGene (NASDAQ:BGNE) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported ($3.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($3.47) by ($0.17). The company had revenue of $595.30 million during the quarter, compared to analyst estimates of $501.07 million. BeiGene had a negative net margin of 95.67% and a negative return on equity of 40.78%. The business’s revenue for the quarter was up 74.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($5.56) earnings per share. Sell-side analysts anticipate that BeiGene, Ltd. will post -12.54 earnings per share for the current year.

Insider Buying and Selling at BeiGene

In other BeiGene news, SVP Chan Henry Lee sold 791 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $216.26, for a total transaction of $171,061.66. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Lai Wang sold 1,325 shares of the stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $192.42, for a total transaction of $254,956.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Chan Henry Lee sold 791 shares of the stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $216.26, for a total transaction of $171,061.66. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,609 shares of company stock valued at $1,243,951. 7.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On BeiGene

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Alberta Investment Management Corp acquired a new stake in shares of BeiGene in the 2nd quarter worth about $486,000. Alliancebernstein L.P. acquired a new stake in shares of BeiGene in the 2nd quarter worth about $432,000. XTX Topco Ltd acquired a new stake in shares of BeiGene in the 2nd quarter worth about $214,000. Goldman Sachs Group Inc. raised its holdings in shares of BeiGene by 7.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 70,946 shares of the company’s stock worth $12,650,000 after acquiring an additional 4,731 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in BeiGene by 51.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,856 shares of the company’s stock valued at $688,000 after buying an additional 1,304 shares during the last quarter. Institutional investors and hedge funds own 48.55% of the company’s stock.

BeiGene Company Profile

BeiGene, Ltd., a biotechnology company, develops and commercializes oncology medicines worldwide. Its products include BRUKINSA to treat various blood cancers; Tislelizumab to treat various solid tumor and blood cancers; REVLIMID to treat multiple myeloma; VIDAZA to treat myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia; 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; SYLVANT to treat idiopathic multicentric castleman disease; QARZIBA to treat neuroblastoma; Pamiparib for the treatment of various solid tumor malignancies; and Pobevcy to treat metastatic colorectal cancer, liver cancer, and non-small cell lung cancer (NSCLC).