BeiGene (NASDAQ:BGNE) Shares Down 2.9%

BeiGene, Ltd. (NASDAQ:BGNE) shares traded down 2.9% during trading on Wednesday . The stock traded as low as $195.65 and last traded at $195.81. 100,371 shares traded hands during trading, a decline of 55% from the average session volume of 222,763 shares. The stock had previously closed at $201.58.

Analyst Ratings Changes

Several equities analysts recently issued reports on BGNE shares. StockNews.com raised BeiGene from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. Citigroup cut their target price on shares of BeiGene from $290.00 to $285.00 and set a “buy” rating on the stock in a research note on Thursday, October 26th. Royal Bank of Canada began coverage on shares of BeiGene in a research note on Tuesday, September 12th. They issued an “outperform” rating and a $259.00 price target for the company. Macquarie initiated coverage on BeiGene in a research note on Monday, September 11th. They set an “outperform” rating and a $259.00 target price for the company. Finally, JPMorgan Chase & Co. lifted their price objective on BeiGene from $297.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, August 7th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, BeiGene has an average rating of “Moderate Buy” and a consensus target price of $278.08.

BeiGene Stock Performance

The business’s fifty day moving average price is $185.14 and its 200 day moving average price is $201.31. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.16 and a quick ratio of 2.91.

BeiGene (NASDAQ:BGNE) last announced its earnings results on Thursday, November 9th. The company reported $2.01 EPS for the quarter, beating analysts’ consensus estimates of ($3.38) by $5.39. BeiGene had a negative net margin of 43.53% and a negative return on equity of 23.83%. The business had revenue of $781.30 million during the quarter, compared to analysts’ expectations of $596.75 million. During the same period in the prior year, the company earned ($5.39) earnings per share. The business’s revenue was up 101.6% compared to the same quarter last year. As a group, equities research analysts expect that BeiGene, Ltd. will post -7.62 EPS for the current fiscal year.

Institutional Investors Weigh In On BeiGene

Several large investors have recently modified their holdings of BGNE. Baillie Gifford & Co. increased its stake in BeiGene by 17.9% in the 3rd quarter. Baillie Gifford & Co. now owns 3,871,598 shares of the company’s stock valued at $696,384,000 after buying an additional 588,294 shares during the period. Temasek Holdings Private Ltd increased its stake in shares of BeiGene by 1.4% during the second quarter. Temasek Holdings Private Ltd now owns 3,008,112 shares of the company’s stock worth $536,346,000 after acquiring an additional 41,649 shares during the period. BlackRock Inc. raised its holdings in BeiGene by 3.8% during the first quarter. BlackRock Inc. now owns 2,699,444 shares of the company’s stock worth $509,114,000 after purchasing an additional 98,316 shares in the last quarter. FMR LLC lifted its position in BeiGene by 3.0% in the third quarter. FMR LLC now owns 2,352,730 shares of the company’s stock valued at $423,186,000 after purchasing an additional 69,297 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in BeiGene by 68.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 775,857 shares of the company’s stock valued at $167,222,000 after purchasing an additional 314,764 shares in the last quarter. Hedge funds and other institutional investors 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).