Beigene (NASDAQ:BGNE) Rating Increased to Strong-Buy at BidaskClub

Beigene (NASDAQ:BGNE) was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report issued on Saturday, BidAskClub reports.

BGNE has been the subject of several other research reports. Morgan Stanley cut their price target on Beigene from $207.00 to $201.00 and set an “overweight” rating for the company in a research note on Monday, August 12th. Piper Jaffray Companies reiterated a “buy” rating on shares of Beigene in a research note on Thursday, June 20th. Zacks Investment Research lowered Beigene from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Macquarie assumed coverage on Beigene in a research note on Friday, July 5th. They set an “underperform” rating for the company. Finally, Cowen reiterated a “buy” rating and set a $170.00 price objective on shares of Beigene in a research note on Friday, May 31st. One investment analyst has rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $181.28.

Shares of Beigene stock opened at $143.76 on Friday. The company has a quick ratio of 7.47, a current ratio of 6.46 and a debt-to-equity ratio of 0.15. Beigene has a twelve month low of $105.19 and a twelve month high of $182.30. The business has a 50-day moving average price of $129.84 and a 200 day moving average price of $129.97. The firm has a market cap of $6.70 billion, a PE ratio of -11.83 and a beta of 1.03.

Beigene (NASDAQ:BGNE) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($1.43) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($3.01) by $1.58. Beigene had a negative return on equity of 38.41% and a negative net margin of 153.32%. The firm had revenue of $243.35 million during the quarter, compared to analyst estimates of $65.58 million. During the same quarter in the previous year, the business earned ($2.92) EPS. Beigene’s revenue for the quarter was up 360.8% compared to the same quarter last year. On average, sell-side analysts expect that Beigene will post -11.46 EPS for the current year.

In other news, CFO Howard Liang sold 23,200 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $130.21, for a total transaction of $3,020,872.00. Following the transaction, the chief financial officer now directly owns 52,338 shares in the company, valued at approximately $6,814,930.98. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CMO Jane Huang sold 430 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $124.52, for a total value of $53,543.60. Following the transaction, the chief marketing officer now owns 3 shares in the company, valued at $373.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,089 shares of company stock valued at $5,836,811. 13.40% of the stock is owned by company insiders.

Several institutional investors have recently modified their holdings of BGNE. Principal Financial Group Inc. acquired a new position in shares of Beigene during the 4th quarter worth approximately $351,000. Metropolitan Life Insurance Co. NY acquired a new position in shares of Beigene during the 4th quarter worth approximately $140,000. Millennium Management LLC boosted its holdings in shares of Beigene by 19.1% during the 4th quarter. Millennium Management LLC now owns 6,692 shares of the company’s stock worth $939,000 after purchasing an additional 1,073 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Beigene by 418.8% during the 4th quarter. Geode Capital Management LLC now owns 134,057 shares of the company’s stock worth $18,629,000 after purchasing an additional 108,218 shares during the last quarter. Finally, Brinker Capital Inc. boosted its holdings in shares of Beigene by 45.3% during the 1st quarter. Brinker Capital Inc. now owns 3,883 shares of the company’s stock worth $513,000 after purchasing an additional 1,210 shares during the last quarter.

About Beigene

BeiGene, Ltd., a commercial-stage biotechnology company, develops and commercializes molecularly-targeted and immuno-oncology drugs for the treatment of cancer in the People's Republic of China, the United States, and internationally. Its commercial products include ABRAXANE, a chemotherapy product for the treatment of breast, non-small cell lung, pancreatic, and gastric cancers; 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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