Brokerages Expect Beigene Ltd (BGNE) Will Post Earnings of -$3.01 Per Share

Wall Street brokerages predict that Beigene Ltd (NASDAQ:BGNE) will report earnings per share (EPS) of ($3.01) for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Beigene’s earnings, with the lowest EPS estimate coming in at ($3.20) and the highest estimate coming in at ($2.87). Beigene reported earnings per share of $2.54 during the same quarter last year, which indicates a negative year over year growth rate of 218.5%. The business is expected to issue its next earnings results on Monday, November 12th.

According to Zacks, analysts expect that Beigene will report full year earnings of ($10.86) per share for the current financial year, with EPS estimates ranging from ($11.50) to ($9.87). For the next financial year, analysts expect that the company will report earnings of ($11.56) per share, with EPS estimates ranging from ($13.61) to ($8.40). Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Beigene.

Beigene (NASDAQ:BGNE) last issued its quarterly earnings data on Thursday, August 9th. The company reported ($2.92) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.12) by ($0.80). Beigene had a negative return on equity of 24.14% and a negative net margin of 75.19%. The company had revenue of $52.80 million during the quarter, compared to the consensus estimate of $22.53 million. During the same quarter last year, the company posted ($1.52) earnings per share. The firm’s revenue for the quarter was up 5279999900.0% compared to the same quarter last year.

Several research analysts have commented on BGNE shares. CLSA started coverage on shares of Beigene in a report on Wednesday, September 19th. They issued a “buy” rating and a $160.75 price objective for the company. Cowen reiterated a “buy” rating on shares of Beigene in a research note on Thursday, September 20th. BidaskClub lowered shares of Beigene from a “sell” rating to a “strong sell” rating in a research note on Monday, October 15th. Zacks Investment Research upgraded shares of Beigene from a “sell” rating to a “hold” rating in a research note on Wednesday, October 10th. Finally, Guggenheim started coverage on shares of Beigene in a research note on Monday, September 17th. They issued a “buy” rating for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Beigene presently has an average rating of “Buy” and an average target price of $186.34.

In related news, Director Xiaodong Wang sold 3,449 shares of the stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $158.77, for a total transaction of $547,597.73. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CMO Amy C. Peterson sold 5,769 shares of the stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $169.12, for a total transaction of $975,653.28. Following the sale, the chief marketing officer now directly owns 4,661 shares in the company, valued at $788,268.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,129 shares of company stock valued at $2,389,512. 14.10% of the stock is owned by company insiders.

A number of hedge funds have recently made changes to their positions in the stock. ARK Investment Management LLC purchased a new stake in Beigene during the 3rd quarter valued at about $3,480,000. JPMorgan Chase & Co. grew its position in Beigene by 65.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 59,384 shares of the company’s stock valued at $10,226,000 after purchasing an additional 23,495 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in Beigene by 2,639.5% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 24,025 shares of the company’s stock valued at $4,138,000 after purchasing an additional 23,148 shares during the last quarter. Robeco Institutional Asset Management B.V. purchased a new stake in Beigene during the 3rd quarter valued at about $2,119,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in Beigene during the 3rd quarter valued at about $490,000. 77.55% of the stock is currently owned by institutional investors.

NASDAQ BGNE traded down $1.00 during trading on Friday, hitting $123.65. The company had a trading volume of 342,918 shares, compared to its average volume of 505,444. The company has a current ratio of 8.14, a quick ratio of 8.10 and a debt-to-equity ratio of 0.16. Beigene has a one year low of $77.54 and a one year high of $220.10. The firm has a market capitalization of $6.80 billion, a PE ratio of -55.45 and a beta of 1.76.

About Beigene

BeiGene, Ltd. develops and commercializes molecularly-targeted and immuno-oncology drugs for the treatment of cancer. Its commercial products include ABRAXANE, a chemotherapy product for the treatment of breast, non-small cell lung, pancreatic, and gastric cancer; REVLIMID, an oral immunomodulatory drug for the treatment of multiple myeloma in combination with dexamethasone; and VIDAZA, a pyrimidine nucleoside analog for the treatment of intermediate-2 and myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia with 20% to 30% blasts and multi-lineage dysplasia.

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