BeiGene (NASDAQ:BGNE) Shares Gap Up to $149.75

Shares of BeiGene, Ltd. (NASDAQ:BGNE) gapped up prior to trading on Tuesday . The stock had previously closed at $149.75, but opened at $153.70. BeiGene shares last traded at $152.81, with a volume of 10,000 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BGNE. Sanford C. Bernstein cut their price target on BeiGene from $196.00 to $161.00 and set a “market perform” rating on the stock in a research note on Wednesday, March 27th. Bank of America cut their target price on shares of BeiGene from $179.30 to $164.30 and set a “neutral” rating on the stock in a research report on Monday. JPMorgan Chase & Co. boosted their price objective on shares of BeiGene from $184.00 to $186.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Finally, Guggenheim dropped their target price on BeiGene from $350.00 to $345.00 and set a “buy” rating on the stock in a research report on Tuesday, February 27th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, BeiGene currently has a consensus rating of “Moderate Buy” and a consensus price target of $251.70.

BeiGene Stock Performance

The company’s fifty day moving average price is $156.56 and its 200-day moving average price is $170.95. The company has a current ratio of 2.32, a quick ratio of 2.09 and a debt-to-equity ratio of 0.06.

BeiGene (NASDAQ:BGNE) last posted its quarterly earnings results on Monday, February 26th. The company reported ($3.53) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.61) by $0.08. The business had revenue of $634.40 million during the quarter, compared to analysts’ expectations of $632.52 million. BeiGene had a negative net margin of 35.86% and a negative return on equity of 23.12%. The business’s quarterly revenue was up 66.9% on a year-over-year basis. During the same quarter last year, the company posted ($4.29) earnings per share. On average, analysts anticipate that BeiGene, Ltd. will post -8.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO John Oyler sold 37,668 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $164.02, for a total value of $6,178,305.36. Following the transaction, the chief executive officer now directly owns 12,332 shares of the company’s stock, valued at $2,022,694.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO John Oyler sold 37,668 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $164.02, for a total value of $6,178,305.36. Following the sale, the chief executive officer now owns 12,332 shares in the company, valued at $2,022,694.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Julia Aijun Wang sold 397 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $167.08, for a total transaction of $66,330.76. The disclosure for this sale can be found here. 7.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BGNE. Capital International Investors grew its stake in shares of BeiGene by 4.7% during the 4th quarter. Capital International Investors now owns 6,336,872 shares of the company’s stock worth $1,142,636,000 after purchasing an additional 285,397 shares during the period. Baillie Gifford & Co. boosted its holdings in BeiGene by 17.9% during the third quarter. Baillie Gifford & Co. now owns 3,871,598 shares of the company’s stock worth $696,384,000 after buying an additional 588,294 shares in the last quarter. BlackRock Inc. grew its position in BeiGene by 3.8% during the first quarter. BlackRock Inc. now owns 2,699,444 shares of the company’s stock valued at $509,114,000 after buying an additional 98,316 shares during the period. FMR LLC increased its holdings in BeiGene by 3.0% in the third quarter. FMR LLC now owns 2,352,730 shares of the company’s stock valued at $423,186,000 after buying an additional 69,297 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of BeiGene by 9.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,908,189 shares of the company’s stock worth $344,162,000 after acquiring an additional 158,624 shares during the period. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

BeiGene Company Profile

BeiGene, Ltd., through its subsidiaries, engages in the development and commercialization of oncology medicines worldwide. Its products include BRUKINSA to treat various blood cancers; TEVIMBRA to treat various solid tumor and blood cancers; PARTRUVIX for the treatment of various solid tumor malignancies; XGEVA to treat bone metastases from solid tumors and multiple myeloma, as well as giant cell tumor of bone; BLINCYTO to treat acute lymphoblastic leukemia; KYPROLIS to treat R/R multiple myeloma; REVLIMID to treat multiple myeloma; VIDAZA to treat myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia; SYLVANT to treat idiopathic multicentric castleman disease; QARZIBA to treat neuroblastoma; POBEVCY to treat metastatic colorectal cancer, liver cancer, and non-small cell lung cancer (NSCLC); BAITUOWEI, to treat breast and prostate cancers; TAFINLAR and MEKINIST to treat NSCLC and melanoma; VOTRIENT for advance renal cell carcinoma; AFINITOR for advance renal cell carcinoma, NET, SEGA, & breast cancers; and ZYKADIA to treat ALK + NSCLC.