Cowen Reaffirms Buy Rating for Beigene (BGNE)

Beigene (NASDAQ:BGNE)‘s stock had its “buy” rating restated by stock analysts at Cowen in a research note issued on Wednesday.

Several other research firms have also recently weighed in on BGNE. Zacks Investment Research cut shares of Beigene from a “hold” rating to a “sell” rating in a research report on Tuesday, July 10th. Piper Jaffray Companies set a $200.00 price objective on shares of Beigene and gave the stock a “buy” rating in a research report on Monday, July 23rd. BidaskClub upgraded shares of Beigene from a “hold” rating to a “buy” rating in a research report on Thursday, July 26th. Maxim Group reiterated a “buy” rating and set a $225.00 price objective on shares of Beigene in a research report on Monday, July 30th. Finally, Guggenheim initiated coverage on shares of Beigene in a research report on Monday, September 17th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $186.34.

NASDAQ BGNE traded down $1.16 on Wednesday, hitting $123.49. The company’s stock had a trading volume of 496,791 shares, compared to its average volume of 349,673. The company has a debt-to-equity ratio of 0.16, a quick ratio of 8.10 and a current ratio of 8.14. Beigene has a 1-year low of $77.54 and a 1-year high of $220.10. The stock has a market cap of $6.80 billion, a P/E ratio of -55.38 and a beta of 1.76.

Beigene (NASDAQ:BGNE) last announced its quarterly earnings results on Thursday, August 9th. The company reported ($2.92) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.12) by ($0.80). Beigene had a negative net margin of 75.19% and a negative return on equity of 24.14%. The business had revenue of $52.80 million during the quarter, compared to analyst estimates of $22.53 million. During the same quarter last year, the company posted ($1.52) earnings per share. The company’s revenue was up 5279999900.0% compared to the same quarter last year. Analysts predict that Beigene will post -10.86 earnings per share for the current fiscal year.

In other Beigene news, CMO Amy C. Peterson sold 5,769 shares of the firm’s stock in a transaction on Thursday, August 23rd. The shares were sold at an average price of $169.12, for a total value of $975,653.28. Following the completion of the sale, the chief marketing officer now directly owns 4,661 shares in the company, valued at $788,268.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Donald W. Glazer sold 2,000 shares of the firm’s stock in a transaction on Thursday, August 30th. The stock was sold at an average price of $179.00, for a total transaction of $358,000.00. Following the completion of the sale, the director now owns 14,384 shares of the company’s stock, valued at $2,574,736. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,129 shares of company stock valued at $2,389,512. 14.10% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of the business. Baker BROS. Advisors LP grew its holdings in Beigene by 105.2% in the second quarter. Baker BROS. Advisors LP now owns 11,959,824 shares of the company’s stock worth $1,838,584,000 after purchasing an additional 6,130,395 shares during the period. FMR LLC grew its holdings in Beigene by 0.4% in the second quarter. FMR LLC now owns 5,376,029 shares of the company’s stock worth $826,457,000 after purchasing an additional 19,547 shares during the period. Morgan Stanley grew its holdings in Beigene by 39.6% in the second quarter. Morgan Stanley now owns 500,476 shares of the company’s stock worth $76,939,000 after purchasing an additional 142,078 shares during the period. BlackRock Inc. grew its holdings in Beigene by 23.1% in the second quarter. BlackRock Inc. now owns 435,389 shares of the company’s stock worth $66,933,000 after purchasing an additional 81,748 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in Beigene in the second quarter worth $33,377,000. Institutional investors and hedge funds own 77.55% of the company’s stock.

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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Analyst Recommendations for Beigene (NASDAQ:BGNE)

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