BeiGene (NASDAQ:BGNE) Trading Up 4.3% After Analyst Upgrade

Shares of BeiGene, Ltd. (NASDAQ:BGNE) shot up 4.3% during trading on Thursday after TD Cowen raised their price target on the stock from $235.00 to $236.00. TD Cowen currently has a buy rating on the stock. BeiGene traded as high as $150.38 and last traded at $150.34. 109,824 shares traded hands during mid-day trading, a decline of 57% from the average session volume of 255,402 shares. The stock had previously closed at $144.12.

Other equities analysts have also issued research reports about the stock. Sanford C. Bernstein cut their target price on shares of BeiGene from $196.00 to $161.00 and set a “market perform” rating on the stock in a research note on Wednesday, March 27th. JPMorgan Chase & Co. upped their target price on shares of BeiGene from $184.00 to $186.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Bank of America cut their target price on shares of BeiGene from $179.30 to $164.30 and set a “neutral” rating on the stock in a research note on Monday, April 8th. Finally, Guggenheim cut their target price on shares of BeiGene from $350.00 to $345.00 and set a “buy” rating on the stock in a research note on Tuesday, February 27th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, BeiGene currently has an average rating of “Moderate Buy” and a consensus price target of $250.13.

Insider Activity at BeiGene

In related news, CFO Julia Aijun Wang sold 397 shares of the business’s stock in a transaction dated 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 Securities & Exchange Commission, which is available at this link. In other BeiGene news, CEO John Oyler sold 37,668 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $164.02, for a total value of $6,178,305.36. Following the completion of the transaction, the chief executive officer now owns 12,332 shares in the company, valued at approximately $2,022,694.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Julia Aijun Wang sold 397 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $167.08, for a total transaction of $66,330.76. The disclosure for this sale can be found here. Insiders sold a total of 64,781 shares of company stock valued at $10,222,381 in the last quarter. Insiders own 7.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Toronto Dominion Bank grew its position in BeiGene by 166.4% in the 3rd quarter. Toronto Dominion Bank now owns 333 shares of the company’s stock worth $60,000 after purchasing an additional 208 shares during the last quarter. Knights of Columbus Asset Advisors LLC grew its position in BeiGene by 20.5% in the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 447 shares of the company’s stock worth $80,000 after purchasing an additional 76 shares during the last quarter. Benjamin F. Edwards & Company Inc. bought a new position in BeiGene in the 4th quarter worth about $98,000. PNC Financial Services Group Inc. grew its position in BeiGene by 123.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 732 shares of the company’s stock worth $132,000 after purchasing an additional 405 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of BeiGene in the fourth quarter valued at approximately $183,000. Institutional investors own 48.55% of the company’s stock.

BeiGene Stock Up 3.4 %

The firm’s fifty day moving average price is $154.84 and its 200-day moving average price is $167.26. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.32 and a quick ratio of 2.09. The firm has a market capitalization of $14.69 billion, a P/E ratio of -18.07 and a beta of 0.61.

BeiGene (NASDAQ:BGNE) last posted its quarterly earnings data on Monday, February 26th. The company reported ($3.53) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.61) by $0.08. The business had revenue of $634.40 million during the quarter, compared to analysts’ expectations of $632.52 million. BeiGene had a negative net margin of 35.86% and a negative return on equity of 23.12%. The business’s revenue was up 66.9% on a year-over-year basis. During the same period last year, the firm posted ($4.29) earnings per share. As a group, equities research analysts forecast that BeiGene, Ltd. will post -8.87 earnings per share for the current year.

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.