Beigene Ltd (BGNE) Given Buy Rating at Maxim Group
Beigene Ltd (NASDAQ:BGNE)‘s stock had its “buy” rating reiterated by stock analysts at Maxim Group in a research note issued on Thursday. They currently have a $52.00 price objective on the stock. Maxim Group’s price objective would indicate a potential upside of 42.50% from the company’s current price.
The analysts wrote, “BeiGene reported 1Q17 results. The company spent $52.5M during the quarter. The increased operating expenses were driven by clinical expansion to pivotal studies. Net loss for the quarter was $50.6M or ($1.27) per share. BeiGene ended the period with $327M of liquidity on the balance sheet. We model rising R&D expenses with clinical advances.””
Separately, Zacks Investment Research lowered shares of Beigene from a “buy” rating to a “hold” rating in a report on Tuesday, January 17th.
Beigene (NASDAQ:BGNE) traded down 1.24% on Thursday, reaching $36.49. The company’s stock had a trading volume of 55,245 shares. Beigene has a 52 week low of $24.53 and a 52 week high of $42.09. The firm has a 50 day moving average price of $37.95 and a 200 day moving average price of $35.01. The stock’s market capitalization is $1.46 billion.
Beigene (NASDAQ:BGNE) last posted its earnings results on Wednesday, March 22nd. The company reported ($1.05) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.86) by $0.19. The company had revenue of $1 million for the quarter, compared to analyst estimates of $3.75 million. The company’s quarterly revenue was down 78.6% on a year-over-year basis. During the same quarter last year, the firm earned ($3.05) EPS. On average, equities analysts anticipate that Beigene will post ($3.92) EPS for the current year.
In other Beigene news, Director Xiaodong Wang sold 14,461 shares of the business’s stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $40.80, for a total value of $590,008.80. Following the transaction, the director now owns 65,030 shares in the company, valued at approximately $2,653,224. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John Oyler sold 64,963 shares of the business’s stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $40.55, for a total transaction of $2,634,249.65. Following the completion of the transaction, the chief executive officer now owns 378,383 shares in the company, valued at approximately $15,343,430.65. The disclosure for this sale can be found here. Insiders sold a total of 381,561 shares of company stock worth $15,180,155 in the last quarter.
Several large investors have recently added to or reduced their stakes in the company. Boxer Capital LLC increased its stake in Beigene by 72.2% in the fourth quarter. Boxer Capital LLC now owns 850,000 shares of the company’s stock valued at $25,806,000 after buying an additional 356,370 shares during the last quarter. Guggenheim Capital LLC bought a new stake in Beigene during the fourth quarter valued at $670,000. Baillie Gifford & Co. increased its stake in Beigene by 0.7% in the fourth quarter. Baillie Gifford & Co. now owns 69,284 shares of the company’s stock valued at $2,103,000 after buying an additional 449 shares during the last quarter. Baker BROS. Advisors LP bought a new stake in Beigene during the third quarter valued at $58,930,000. Finally, Hsbc Holdings PLC bought a new stake in Beigene during the third quarter valued at $636,000. 33.01% of the stock is owned by institutional investors.
BeiGene, Ltd. is a clinical-stage biopharmaceutical company. The Company is focused in the discovery and development of molecularly targeted and immuno-oncology drugs for the treatment of cancer. The Company had used its cancer biology platform to develop four clinical-stage drug candidates, such as BGB-3111, BGB-A317, BGB-290 and BGB-283, as of December 31, 2016.
Receive News & Ratings for Beigene Ltd Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Beigene Ltd and related companies with MarketBeat.com's FREE daily email newsletter.