Beigene (BGNE) Releases Quarterly Earnings Results

Beigene (NASDAQ:BGNE) released its quarterly earnings data on Wednesday. The company reported ($2.53) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($2.97) by $0.44, Briefing.com reports. Beigene had a negative net margin of 75.19% and a negative return on equity of 24.14%. The firm had revenue of $54.20 million for the quarter, compared to the consensus estimate of $47.06 million. During the same period in the previous year, the company earned $2.54 earnings per share. The company’s quarterly revenue was down 75.4% on a year-over-year basis.

Shares of BGNE stock traded up $2.94 on Thursday, hitting $126.43. The company’s stock had a trading volume of 597,501 shares, compared to its average volume of 350,815. 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 fifty-two week low of $77.54 and a fifty-two week high of $220.10. The company has a market capitalization of $6.70 billion, a PE ratio of -56.70 and a beta of 1.76.

Several research firms recently commented on BGNE. Zacks Investment Research upgraded shares of Beigene from a “sell” rating to a “hold” rating in a research note on Thursday. Cowen restated a “buy” rating on shares of Beigene in a research note on Friday, August 10th. Guggenheim began coverage on shares of Beigene in a research note on Monday, September 17th. They issued a “buy” rating on the stock. Maxim Group restated a “buy” rating and issued a $215.00 price target on shares of Beigene in a research note on Thursday, September 20th. Finally, BidaskClub downgraded shares of Beigene from a “hold” rating to a “sell” rating in a research note on Thursday, September 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $186.34.

In related news, CMO Jane Huang sold 2,911 shares of the company’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $174.60, for a total transaction of $508,260.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Xiaodong Wang sold 3,449 shares of the company’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $158.77, for a total transaction of $547,597.73. The disclosure for this sale can be found here. Insiders sold 14,129 shares of company stock worth $2,389,512 over the last 90 days. 14.10% of the stock is currently owned by corporate insiders.

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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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Earnings History for Beigene (NASDAQ:BGNE)

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