Analysts Set Beigene Ltd (NASDAQ:BGNE) Target Price at $218.03

Shares of Beigene Ltd (NASDAQ:BGNE) have received an average rating of “Buy” from the sixteen research firms that are currently covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $218.03.

BGNE has been the topic of several recent analyst reports. Piper Sandler raised their target price on shares of Beigene from $165.00 to $175.00 and gave the company a “neutral” rating in a report on Thursday, August 6th. BidaskClub raised shares of Beigene from a “buy” rating to a “strong-buy” rating in a report on Friday, October 2nd. Maxim Group reissued a “buy” rating and issued a $250.00 target price (up from $190.00) on shares of Beigene in a report on Friday, July 10th. Zacks Investment Research lowered shares of Beigene from a “buy” rating to a “hold” rating in a report on Friday, October 2nd. Finally, ValuEngine raised shares of Beigene from a “hold” rating to a “buy” rating in a report on Saturday, September 5th.

In related news, CMO Jane Huang sold 3,000 shares of the stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $209.93, for a total value of $629,790.00. Following the completion of the sale, the chief marketing officer now directly owns 326,247 shares in the company, valued at $68,489,032.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Howard Liang sold 14,000 shares of the stock in a transaction on Monday, September 14th. The shares were sold at an average price of $250.27, for a total value of $3,503,780.00. Following the completion of the sale, the chief financial officer now owns 168,415 shares of the company’s stock, valued at $42,149,222.05. The disclosure for this sale can be found here. Insiders have sold 381,460 shares of company stock valued at $94,009,219 over the last quarter. Company insiders own 9.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of BGNE. Marshall Wace North America L.P. acquired a new stake in Beigene in the first quarter valued at $76,000. Amundi Pioneer Asset Management Inc. grew its holdings in Beigene by 9.7% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 17,001 shares of the company’s stock worth $2,244,000 after acquiring an additional 1,500 shares during the period. Public Employees Retirement Association of Colorado grew its holdings in Beigene by 4.7% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 12,254 shares of the company’s stock worth $1,509,000 after acquiring an additional 554 shares during the period. Geode Capital Management LLC grew its holdings in Beigene by 10.5% during the 1st quarter. Geode Capital Management LLC now owns 191,540 shares of the company’s stock worth $23,287,000 after acquiring an additional 18,168 shares during the period. Finally, APG Asset Management N.V. acquired a new stake in Beigene during the 1st quarter worth about $3,349,000. Institutional investors and hedge funds own 56.12% of the company’s stock.

NASDAQ:BGNE opened at $299.00 on Thursday. Beigene has a 52 week low of $118.55 and a 52 week high of $322.98. The firm has a market cap of $27.10 billion, a price-to-earnings ratio of -14.58 and a beta of 1.21. The firm’s 50-day simple moving average is $278.81 and its 200 day simple moving average is $210.22. The company has a debt-to-equity ratio of 0.11, a quick ratio of 6.09 and a current ratio of 6.15.

Beigene (NASDAQ:BGNE) last released its earnings results on Thursday, August 6th. The company reported ($4.31) EPS for the quarter, beating the consensus estimate of ($4.78) by $0.47. Beigene had a negative net margin of 620.47% and a negative return on equity of 72.94%. The firm had revenue of $65.64 million for the quarter, compared to analyst estimates of $50.10 million. Sell-side analysts anticipate that Beigene will post -17.38 EPS for the current year.

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.

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Analyst Recommendations for Beigene (NASDAQ:BGNE)

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