Piper Jaffray Companies Analysts Give Beigene (BGNE) a $200.00 Price Target

Piper Jaffray Companies set a $200.00 target price on Beigene (NASDAQ:BGNE) in a research report report published on Wednesday morning. The brokerage currently has a buy rating on the stock.

BGNE has been the subject of a number of other reports. Cowen reissued a buy rating on shares of Beigene in a research report on Sunday, October 14th. Zacks Investment Research cut Beigene from a hold rating to a sell rating in a research report on Tuesday, July 10th. ValuEngine raised Beigene from a buy rating to a strong-buy rating in a research report on Tuesday, October 2nd. BidaskClub raised Beigene from a hold rating to a buy rating in a research report on Thursday, July 26th. Finally, Leerink Swann assumed coverage on Beigene in a research report on Monday, September 24th. They set an outperform rating and a $215.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Beigene currently has a consensus rating of Buy and an average price target of $186.34.

Shares of NASDAQ BGNE traded up $3.07 during trading hours on Wednesday, reaching $126.56. The stock had a trading volume of 7,690 shares, compared to its average volume of 499,894. The stock has a market cap of $6.70 billion, a PE ratio of -56.41 and a beta of 1.76. The company has a quick ratio of 8.10, a current ratio of 8.14 and a debt-to-equity ratio of 0.16. Beigene has a fifty-two week low of $77.54 and a fifty-two week high of $220.10.

Beigene (NASDAQ:BGNE) last announced its earnings results on Wednesday, November 7th. The company reported ($2.53) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.97) by $0.44. The firm had revenue of $54.20 million during the quarter, compared to analysts’ expectations of $47.06 million. Beigene had a negative return on equity of 24.14% and a negative net margin of 75.19%. The business’s revenue was down 75.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.54 EPS. Sell-side analysts anticipate that Beigene will post -10.86 earnings per share for the current year.

In other news, CMO Amy C. Peterson sold 5,769 shares of the firm’s stock in a transaction that occurred on Thursday, August 23rd. The stock was 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 of the company’s stock, valued at approximately $788,268.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Donald W. Glazer sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $179.00, for a total value of $358,000.00. Following the completion of the sale, the director now directly owns 14,384 shares of the company’s stock, valued at $2,574,736. The disclosure for this sale can be found here. Insiders have sold a total of 14,129 shares of company stock valued at $2,389,512 over the last ninety days. 14.10% of the stock is owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC lifted its holdings in shares of Beigene by 5,558.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 679 shares of the company’s stock valued at $104,000 after buying an additional 667 shares during the period. Rockefeller Capital Management L.P. acquired a new stake in shares of Beigene in the 2nd quarter valued at approximately $135,000. K.J. Harrison & Partners Inc acquired a new stake in shares of Beigene in the 3rd quarter valued at approximately $207,000. Virtu Financial LLC acquired a new stake in shares of Beigene in the 2nd quarter valued at approximately $212,000. Finally, Northern Trust Corp acquired a new stake in shares of Beigene in the 1st quarter valued at approximately $302,000. 77.55% of the stock is owned by institutional investors and hedge funds.

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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