Beigene (NASDAQ:BGNE) Announces Earnings Results

Beigene (NASDAQ:BGNE) posted its quarterly earnings results on Tuesday. The company reported ($5.11) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($3.56) by ($1.55), Briefing.com reports. The company had revenue of $50.14 million during the quarter, compared to the consensus estimate of $65.43 million. Beigene had a negative net margin of 153.32% and a negative return on equity of 38.41%. The firm’s revenue for the quarter was down 7.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($2.53) earnings per share.

Shares of NASDAQ BGNE traded up $0.79 during midday trading on Wednesday, hitting $197.10. 14,217 shares of the company’s stock were exchanged, compared to its average volume of 330,673. The company has a quick ratio of 6.28, a current ratio of 6.46 and a debt-to-equity ratio of 0.15. Beigene has a 12 month low of $108.00 and a 12 month high of $200.00. The company’s 50 day moving average price is $142.31 and its 200 day moving average price is $132.54. The firm has a market capitalization of $9.47 billion, a PE ratio of -16.26 and a beta of 1.00.

In other news, Director Timothy Yung-Cheng Chen sold 8,614 shares of Beigene stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $144.96, for a total transaction of $1,248,685.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CMO Jane Huang sold 2,862 shares of Beigene stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $144.45, for a total value of $413,415.90. Following the transaction, the chief marketing officer now owns 291,667 shares of the company’s stock, valued at $42,131,298.15. The disclosure for this sale can be found here. Insiders have sold a total of 50,176 shares of company stock valued at $9,007,005 over the last quarter. 13.40% of the stock is currently owned by corporate insiders.

BGNE has been the subject of a number of analyst reports. Guggenheim set a $205.00 price target on Beigene and gave the company a “buy” rating in a research note on Friday, November 1st. Maxim Group raised their price target on Beigene from $170.00 to $210.00 and gave the company a “buy” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. set a $215.00 price target on Beigene and gave the company a “buy” rating in a research note on Monday, November 4th. Piper Jaffray Companies raised their price target on Beigene from $180.00 to $200.00 in a research note on Friday, November 1st. Finally, ValuEngine downgraded Beigene from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $198.78.

Beigene Company Profile

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.

Featured Article: What is the Moving Average Convergence Divergence (MACD) oscillator?

Earnings History for Beigene (NASDAQ:BGNE)

Receive News & Ratings for Beigene Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Beigene and related companies with MarketBeat.com's FREE daily email newsletter.