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

BeiGene, Ltd. (NASDAQ:BGNE) shot up 4.3% during mid-day 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 were traded 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.

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

Insider Buying and Selling at BeiGene

In other BeiGene news, CFO Julia Aijun Wang sold 397 shares of the company’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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Julia Aijun Wang sold 397 shares of the company’s stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $6,178,305.36. Following the completion of the sale, 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 sold 64,781 shares of company stock worth $10,222,381 over the last 90 days. Corporate insiders own 7.40% of the company’s stock.

Institutional Investors Weigh In On BeiGene

Institutional investors and hedge funds have recently made changes to their positions in the business. Toronto Dominion Bank raised its holdings in shares of BeiGene by 166.4% in the third quarter. Toronto Dominion Bank now owns 333 shares of the company’s stock valued at $60,000 after buying an additional 208 shares during the last quarter. Knights of Columbus Asset Advisors LLC raised its holdings in shares of BeiGene by 20.5% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 447 shares of the company’s stock valued at $80,000 after buying an additional 76 shares during the last quarter. Benjamin F. Edwards & Company Inc. purchased a new position in BeiGene during the fourth quarter worth about $98,000. PNC Financial Services Group Inc. raised its holdings in BeiGene by 123.9% during the third quarter. PNC Financial Services Group Inc. now owns 732 shares of the company’s stock worth $132,000 after purchasing an additional 405 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in BeiGene during the fourth quarter worth about $183,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

BeiGene Stock Up 3.4 %

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

BeiGene (NASDAQ:BGNE) last posted its quarterly earnings results on Monday, February 26th. The company reported ($3.53) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.61) by $0.08. The firm 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 firm’s revenue for the quarter was up 66.9% on a year-over-year basis. During the same period in the prior year, the company posted ($4.29) earnings per share. On average, equities research analysts predict that BeiGene, Ltd. will post -8.87 earnings per share for the current year.

About BeiGene

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.