Beigene’s (BGNE) Buy Rating Reaffirmed at Maxim Group

Beigene (NASDAQ:BGNE)‘s stock had its “buy” rating reiterated by equities researchers at Maxim Group in a report released on Wednesday.

The analysts wrote, “BeiGene announced the commercial availability of Celgene’s VIDAZA. Recall that VIDAZA is an injectable nucleoside metabolic inhibitor for patients with Intermediate-2/high-risk myelodysplastic syndrome (MDS), AML with 20-30% bone marrow blasts and chronic myelomonocyte leukemia (CMML). The asset is the third product in BeiGene’s China commercial portfolio along with Abraxane and Revlimid and positions BeiGene to be a leader in the oncology space in China.””

A number of other brokerages also recently weighed in on BGNE. Cowen reissued a “buy” rating on shares of Beigene in a research note on Tuesday, November 14th. ValuEngine downgraded shares of Beigene from a “hold” rating to a “sell” rating in a research note on Wednesday, January 3rd. BidaskClub raised shares of Beigene from a “hold” rating to a “buy” rating in a research note on Friday, January 5th. Zacks Investment Research raised shares of Beigene from a “sell” rating to a “hold” rating in a research note on Tuesday, January 30th. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $83.00 price target (up from $58.00) on shares of Beigene in a research note on Tuesday, November 14th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Beigene presently has a consensus rating of “Buy” and a consensus price target of $96.67.

Beigene (NASDAQ BGNE) opened at $125.00 on Wednesday. Beigene has a 52 week low of $34.28 and a 52 week high of $142.00. The firm has a market cap of $6,895.82, a price-to-earnings ratio of -96.15 and a beta of 0.61. The company has a debt-to-equity ratio of 0.20, a quick ratio of 9.27 and a current ratio of 9.33.

Beigene (NASDAQ:BGNE) last announced its earnings results on Monday, November 13th. The company reported $2.54 earnings per share for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the business earned ($1.08) EPS. analysts expect that Beigene will post -2.04 EPS for the current fiscal year.

In other news, CMO Jane Huang sold 1,600 shares of the business’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $86.25, for a total transaction of $138,000.00. Following the completion of the sale, the chief marketing officer now directly owns 264,900 shares of the company’s stock, valued at $22,847,625. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO John Oyler sold 150,957 shares of the business’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 sale, the chief executive officer now directly owns 491,891 shares of the company’s stock, valued at $39,597,225.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 483,482 shares of company stock valued at $42,139,474. Insiders own 19.90% of the company’s stock.

Several large investors have recently bought and sold shares of BGNE. Quantbot Technologies LP bought a new stake in shares of Beigene during the third quarter worth about $160,000. Comerica Bank bought a new stake in shares of Beigene during the fourth quarter worth about $246,000. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Beigene during the third quarter worth about $248,000. Profund Advisors LLC bought a new stake in shares of Beigene during the second quarter worth about $248,000. Finally, Aperio Group LLC bought a new stake in shares of Beigene during the third quarter worth about $301,000. 47.52% of the stock is owned by institutional investors.

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Beigene Company Profile

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.

Analyst Recommendations for Beigene (NASDAQ:BGNE)

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