Beigene Ltd (BGNE) Expected to Post Quarterly Sales of $23.00 Million

Equities analysts predict that Beigene Ltd (NASDAQ:BGNE) will report sales of $23.00 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Beigene’s earnings. The lowest sales estimate is $16.50 million and the highest is $29.50 million. The company is expected to announce its next quarterly earnings report on Wednesday, March 28th.

On average, analysts expect that Beigene will report full-year sales of $23.00 million for the current year, with estimates ranging from $229.56 million to $249.71 million. For the next financial year, analysts forecast that the firm will post sales of $129.99 million per share, with estimates ranging from $69.37 million to $203.60 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Beigene.

Beigene (NASDAQ:BGNE) last posted its quarterly earnings results on Monday, November 13th. The company reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $2.31. The company had revenue of $220.21 million during the quarter, compared to the consensus estimate of $1.55 million. During the same period last year, the firm posted ($1.08) EPS.

A number of equities research analysts recently commented on BGNE shares. Maxim Group set a $120.00 price target on shares of Beigene and gave the stock a “buy” rating in a report on Monday, December 11th. Cowen reissued a “buy” rating on shares of Beigene in a report on Tuesday, November 14th. Zacks Investment Research cut shares of Beigene from a “hold” rating to a “sell” rating in a report on Monday, November 13th. BidaskClub cut shares of Beigene from a “buy” rating to a “hold” rating in a report on Saturday, January 13th. Finally, Robert W. Baird reissued a “neutral” rating and set a $83.00 target price (up previously from $58.00) on shares of Beigene in a report on Tuesday, November 14th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Beigene currently has an average rating of “Buy” and a consensus target price of $96.67.

Shares of Beigene (NASDAQ:BGNE) opened at $125.48 on Monday. The company has a quick ratio of 9.27, a current ratio of 9.33 and a debt-to-equity ratio of 0.20. The company has a market cap of $6,624.47, a P/E ratio of -96.52 and a beta of 0.61. Beigene has a 1-year low of $34.36 and a 1-year high of $142.00.

In other Beigene news, CEO John Oyler sold 150,957 shares of the business’s stock in a transaction on Wednesday, November 15th. The shares were 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 owns 491,891 shares of the company’s stock, valued at approximately $39,597,225.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bros. Advisors Lp Baker bought 1,980,198 shares of the 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 disclosure for this purchase can be found here. Insiders have sold a total of 454,827 shares of company stock worth $39,759,749 in the last three months. Insiders own 19.90% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in BGNE. Quantbot Technologies LP purchased a new position in shares of Beigene during the 3rd quarter valued at $160,000. Tower Research Capital LLC TRC purchased a new position in shares of Beigene during the 4th quarter valued at $182,000. Comerica Bank purchased a new position in shares of Beigene during the 4th quarter valued at $246,000. Teachers Retirement System of The State of Kentucky purchased a new position in shares of Beigene during the 3rd quarter valued at $248,000. Finally, Aperio Group LLC purchased a new position in shares of Beigene during the 3rd quarter valued at $301,000. Hedge funds and other institutional investors own 47.52% of the company’s stock.

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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.

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