Recent Analysts’ Ratings Updates for Beigene (BGNE)

A number of research firms have changed their ratings and price targets for Beigene (NASDAQ: BGNE):

  • 1/22/2018 – Beigene was given a new $120.00 price target on by analysts at Maxim Group. They now have a “buy” rating on the stock. They wrote, “BeiGene has announced pricing on a $750M public offering. The company intends to sell 7.4M ADS at a price of $101 per ADS, bringing the total share count to ~50M. After the underwriting discount, the company expects proceeds of ~$710M, bringing the estimated cash on the balance sheet to ~ $1B after including the portion of Celgene’s $263M upfront payment which was due in 4Q17 ($171M). Based on the 2017 burn rate of $260M (excluding nonrecurring collaboration revenue), the offering should extend BeiGene’s cash runway to the expected commercial launches of BGB-3111 and BGB- A317 in 2020. ○ Our model has been adjusted for the raise with several other factors being considered. After incorporating all these changes and rolling our metrics forward, our price target remains at $120. Recall that BGB-A317 is also being evaluated in pivotal trials in China for r/ r Hodgkin’s lymphoma and urothelial cancer, as well as a global P3 trial for NSCLC, bringing the number of ongoing pivotal trials to four. In addition, BeiGene has recently initiated a global PIII trial testing BGB-A317 (anti-PD-1 mAb tislelizumab) vs. Nexavar as a first-line treatment for advanced liver cancer. BGB-A317 is also in a global Phase III trial to treat non-small cell lung cancer (NSCLC), as well as two pivotal (China-based) trials to treat relapsed/ refractory Hodgkin’s lymphoma and urothelial cancer.””
  • 1/13/2018 – Beigene was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 1/8/2018 – Beigene was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “BeiGene, Ltd. is a biotechnology company which focused on immuno-oncological therapeutics. The company’s clinical-stage drug candidates include BGB-3111, BGB-283, BGB-290, and BGB-A317. BeiGene, Ltd. is based in Camana Bay, Cayman Islands. “
  • 1/8/2018 – Beigene had its “buy” rating reaffirmed by analysts at Cowen Inc.
  • 1/5/2018 – Beigene was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 1/3/2018 – Beigene was given a new $120.00 price target on by analysts at Maxim Group. They now have a “buy” rating on the stock.
  • 1/3/2018 – Beigene was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 12/18/2017 – Beigene was given a new $120.00 price target on by analysts at Maxim Group. They now have a “buy” rating on the stock.
  • 12/11/2017 – Beigene had its “buy” rating reaffirmed by analysts at Cowen Inc.
  • 12/11/2017 – Beigene was given a new $120.00 price target on by analysts at Maxim Group. They now have a “buy” rating on the stock. They wrote, “BeiGene presented initial data from the ongoing Phase 1b trial of its BTK inhibitor (BGB-3111), in combination with its investigational anti-PD-1 antibody, BGB-A317, in patients with B-cell malignancies at the ASH Annual Meeting.””

Shares of Beigene Ltd (NASDAQ BGNE) traded up $5.59 during trading hours on Monday, reaching $118.26. 310,203 shares of the company traded hands, compared to its average volume of 326,564. The company has a market cap of $5,380.00 and a P/E ratio of -90.27. Beigene Ltd has a one year low of $31.90 and a one year high of $120.00. The company has a debt-to-equity ratio of 0.20, a current ratio of 9.33 and a quick ratio of 9.27.

Beigene (NASDAQ:BGNE) last issued its quarterly earnings results on Monday, November 13th. The company reported $2.54 EPS for the quarter, beating the consensus estimate of $0.23 by $2.31. The firm had revenue of $220.21 million for the quarter, compared to the consensus estimate of $1.55 million. During the same quarter in the previous year, the company posted ($1.08) earnings per share. analysts predict that Beigene Ltd will post -2.04 earnings per share for the current fiscal year.

In related news, Director Bros. Advisors Lp Baker bought 1,980,198 shares of the company’s stock in a transaction on Thursday, January 18th. The shares were acquired at an average cost of $101.00 per share, for a total transaction of $199,999,998.00. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CEO John Oyler sold 150,957 shares of the company’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $80.50, for a total transaction of $12,152,038.50. Following the completion of the transaction, the chief executive officer now owns 491,891 shares in the company, valued at $39,597,225.50. The disclosure for this sale can be found here. Insiders sold a total of 483,482 shares of company stock worth $42,139,474 over the last 90 days. Insiders own 19.90% of the company’s stock.

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.

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