BeiGene (NASDAQ:BGNE) Price Target Cut to $161.00

BeiGene (NASDAQ:BGNE) had its target price dropped by equities research analysts at Sanford C. Bernstein from $196.00 to $161.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “market perform” rating on the stock. Sanford C. Bernstein’s price target points to a potential upside of 2.95% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. boosted their price objective on shares of BeiGene from $184.00 to $186.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Guggenheim lowered their target price on BeiGene from $350.00 to $345.00 and set a “buy” rating for the company in a research note on Tuesday, February 27th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $257.00.

BeiGene Stock Up 0.8 %

Shares of NASDAQ BGNE opened at $156.39 on Wednesday. BeiGene has a 12-month low of $132.95 and a 12-month high of $272.49. The company has a quick ratio of 2.09, a current ratio of 2.32 and a debt-to-equity ratio of 0.06. The firm’s 50-day simple moving average is $157.72 and its 200 day simple moving average is $173.74. The company has a market cap of $14.95 billion, a price-to-earnings ratio of -18.40 and a beta of 0.62.

BeiGene (NASDAQ:BGNE) last released its earnings results on Monday, February 26th. The company reported ($3.53) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.61) by $0.08. The company had revenue of $634.40 million for the quarter, compared to the consensus estimate of $632.52 million. BeiGene had a negative net margin of 35.86% and a negative return on equity of 23.12%. The company’s revenue was up 66.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($4.29) EPS. On average, research analysts expect that BeiGene will post -8.87 earnings per share for the current fiscal year.

Insider Activity at BeiGene

In related news, CFO Julia Aijun Wang sold 397 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $167.08, for a total transaction of $66,330.76. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CFO Julia Aijun Wang sold 397 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $167.08, for a total value of $66,330.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO John Oyler sold 37,668 shares of BeiGene stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $164.02, for a total transaction of $6,178,305.36. Following the transaction, the chief executive officer now directly owns 12,332 shares of the company’s stock, valued at $2,022,694.64. The disclosure for this sale can be found here. Insiders own 7.40% of the company’s stock.

Hedge Funds Weigh In On BeiGene

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP boosted its stake in BeiGene by 57.4% in the 3rd quarter. Wellington Management Group LLP now owns 55,478 shares of the company’s stock valued at $9,979,000 after purchasing an additional 20,239 shares during the period. XY Capital Ltd increased its position in BeiGene by 1,205.3% during the third quarter. XY Capital Ltd now owns 15,416 shares of the company’s stock worth $2,773,000 after acquiring an additional 14,235 shares during the period. FMR LLC raised its stake in BeiGene by 3.0% in the 3rd quarter. FMR LLC now owns 2,352,730 shares of the company’s stock worth $423,186,000 after purchasing an additional 69,297 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in BeiGene by 53.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 46,682 shares of the company’s stock valued at $8,397,000 after purchasing an additional 16,295 shares during the period. Finally, TD Asset Management Inc grew its position in shares of BeiGene by 91.9% during the 3rd quarter. TD Asset Management Inc now owns 100,256 shares of the company’s stock worth $18,033,000 after purchasing an additional 48,018 shares in the last quarter. Institutional investors and hedge funds own 48.55% of the company’s stock.

BeiGene Company Profile

BeiGene, Ltd., through its subsidiaries, engages in the development and commercialization of oncology medicines worldwide. Its products include BRUKINSA to treat various blood cancers; TEVIMBRA to treat various solid tumor and blood cancers; PARTRUVIX for the treatment of various solid tumor malignancies; 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; REVLIMID to treat multiple myeloma; VIDAZA to treat myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia; SYLVANT to treat idiopathic multicentric castleman disease; QARZIBA to treat neuroblastoma; POBEVCY to treat metastatic colorectal cancer, liver cancer, and non-small cell lung cancer (NSCLC); BAITUOWEI, to treat breast and prostate cancers; TAFINLAR and MEKINIST to treat NSCLC and melanoma; VOTRIENT for advance renal cell carcinoma; AFINITOR for advance renal cell carcinoma, NET, SEGA, & breast cancers; and ZYKADIA to treat ALK + NSCLC.