BeiGene, Ltd. (NASDAQ:BGNE) to Post Q1 2024 Earnings of ($2.63) Per Share, Leerink Partnrs Forecasts

BeiGene, Ltd. (NASDAQ:BGNE) – Investment analysts at Leerink Partnrs lowered their Q1 2024 EPS estimates for shares of BeiGene in a research note issued on Wednesday, April 24th. Leerink Partnrs analyst A. Berens now expects that the company will earn ($2.63) per share for the quarter, down from their previous forecast of ($2.43). The consensus estimate for BeiGene’s current full-year earnings is ($8.93) per share. Leerink Partnrs also issued estimates for BeiGene’s Q2 2024 earnings at ($2.53) EPS, Q3 2024 earnings at ($2.31) EPS, Q4 2024 earnings at ($2.15) EPS, FY2024 earnings at ($9.61) EPS, FY2025 earnings at ($4.91) EPS, FY2026 earnings at $1.73 EPS and FY2027 earnings at $7.32 EPS.

A number of other equities analysts have also recently weighed in on BGNE. Sanford C. Bernstein lowered their price objective on shares of BeiGene from $196.00 to $161.00 and set a “market perform” rating for the company in a research report on Wednesday, March 27th. Guggenheim lowered their price objective on shares of BeiGene from $350.00 to $345.00 and set a “buy” rating for the company in a research report on Tuesday, February 27th. Bank of America lowered their price objective on shares of BeiGene from $179.30 to $164.30 and set a “neutral” rating for the company in a research report on Monday, April 8th. TD Cowen increased their target price on shares of BeiGene from $235.00 to $236.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Finally, JPMorgan Chase & Co. increased their target price on shares of BeiGene from $184.00 to $186.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, BeiGene currently has a consensus rating of “Moderate Buy” and an average price target of $250.13.

BeiGene Stock Performance

NASDAQ:BGNE opened at $153.58 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.09 and a current ratio of 2.32. The stock has a market capitalization of $14.69 billion, a P/E ratio of -18.07 and a beta of 0.61. The company has a 50 day moving average price of $154.84 and a 200 day moving average price of $167.09. BeiGene has a fifty-two week low of $126.97 and a fifty-two week high of $266.67.

BeiGene (NASDAQ:BGNE) last posted its quarterly earnings results on Monday, February 26th. The company reported ($3.53) earnings per share 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 for the quarter was up 66.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($4.29) EPS.

Institutional Investors Weigh In On BeiGene

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Baillie Gifford & Co. grew its position in BeiGene by 17.9% during the 3rd quarter. Baillie Gifford & Co. now owns 3,871,598 shares of the company’s stock worth $696,384,000 after purchasing an additional 588,294 shares during the last quarter. Capital International Investors grew its position in BeiGene by 4.7% during the 4th quarter. Capital International Investors now owns 6,336,872 shares of the company’s stock worth $1,142,636,000 after purchasing an additional 285,397 shares during the last quarter. First Trust Advisors LP purchased a new position in BeiGene during the 4th quarter worth $39,632,000. Goldman Sachs Group Inc. grew its position in BeiGene by 175.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 214,339 shares of the company’s stock worth $38,658,000 after purchasing an additional 136,458 shares during the last quarter. Finally, FMR LLC grew its position in BeiGene by 3.0% during 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 during the last quarter. 48.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Julia Aijun Wang sold 397 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $167.08, for a total value of $66,330.76. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Julia Aijun Wang sold 397 shares of BeiGene 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 document filed with the SEC, which can be accessed through this link. 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 sale, the chief executive officer now owns 12,332 shares in the company, valued at $2,022,694.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 64,781 shares of company stock worth $10,222,381. 7.40% of the stock is currently owned by corporate insiders.

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.