Beigene Ltd (BGNE) Receives $178.72 Consensus Price Target from Brokerages

Beigene Ltd (NASDAQ:BGNE) has been given a consensus recommendation of “Buy” by the fourteen research firms that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $178.72.

Several research analysts recently commented on the company. Cowen reaffirmed a “buy” rating on shares of Beigene in a research report on Sunday, October 14th. Leerink Swann began coverage on Beigene in a research report on Monday, September 24th. They issued an “outperform” rating and a $215.00 target price for the company. BidaskClub lowered Beigene from a “sell” rating to a “strong sell” rating in a research note on Monday, October 15th. Maxim Group reiterated a “buy” rating and set a $215.00 price objective on shares of Beigene in a research note on Thursday, September 20th. Finally, CLSA began coverage on Beigene in a research note on Wednesday, September 19th. They set a “buy” rating and a $160.75 price objective for the company.

In other news, CMO Amy C. Peterson sold 40,000 shares of the firm’s stock in a transaction on Monday, November 12th. The stock was sold at an average price of $120.20, for a total value of $4,808,000.00. Following the completion of the sale, the chief marketing officer now directly owns 194,569 shares in the company, valued at $23,387,193.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO John Oyler sold 29,195 shares of the firm’s stock in a transaction on Wednesday, November 28th. The shares were sold at an average price of $143.66, for a total value of $4,194,153.70. Following the completion of the sale, the chief executive officer now owns 17,420,172 shares of the company’s stock, valued at $2,502,581,909.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 130,122 shares of company stock valued at $17,156,904. 13.30% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the stock. Belpointe Asset Management LLC increased its position in Beigene by 314.5% in the third quarter. Belpointe Asset Management LLC now owns 15,998 shares of the company’s stock worth $2,755,000 after purchasing an additional 12,138 shares during the period. FMR LLC boosted its holdings in Beigene by 1.7% during the third quarter. FMR LLC now owns 5,466,101 shares of the company’s stock worth $941,371,000 after buying an additional 90,072 shares during the last quarter. BlackRock Inc. boosted its holdings in Beigene by 9.2% during the third quarter. BlackRock Inc. now owns 475,337 shares of the company’s stock worth $81,863,000 after buying an additional 39,948 shares during the last quarter. Pictet Asset Management Ltd. bought a new position in Beigene during the third quarter worth about $2,213,000. Finally, Morgan Stanley boosted its holdings in Beigene by 39.6% during the second quarter. Morgan Stanley now owns 500,476 shares of the company’s stock worth $76,939,000 after buying an additional 142,078 shares during the last quarter. Hedge funds and other institutional investors own 76.70% of the company’s stock.

BGNE stock opened at $144.25 on Friday. Beigene has a one year low of $95.34 and a one year high of $220.10. The stock has a market cap of $8.48 billion, a price-to-earnings ratio of -64.69 and a beta of 1.70. The company has a quick ratio of 11.47, a current ratio of 11.57 and a debt-to-equity ratio of 0.09.

Beigene (NASDAQ:BGNE) last posted its quarterly earnings data on Wednesday, November 7th. The company reported ($2.53) earnings per share for the quarter, beating the consensus estimate of ($2.97) by $0.44. Beigene had a negative return on equity of 38.44% and a negative net margin of 320.08%. The company had revenue of $54.20 million during the quarter, compared to analysts’ expectations of $47.06 million. During the same period in the prior year, the business earned $2.54 earnings per share. Beigene’s revenue for the quarter was down 75.4% compared to the same quarter last year. Sell-side analysts predict that Beigene will post -10.09 EPS for the current year.

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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