BeiGene, Ltd. (NASDAQ:BGNE) Receives $292.86 Average Target Price from Analysts

Posted by ABMN Staff on Mar 19th, 2023

Shares of BeiGene, Ltd. (NASDAQ:BGNE – Get Rating) have received a consensus rating of “Moderate Buy” from the eight research firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $292.86.

BGNE has been the subject of a number of analyst reports. Cowen upped their price objective on BeiGene from $213.00 to $262.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 28th. Morgan Stanley reduced their price objective on BeiGene from $325.00 to $321.00 and set an “overweight” rating for the company in a research note on Tuesday, February 28th. SVB Leerink raised their target price on BeiGene from $236.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, January 20th. Guggenheim reaffirmed a “buy” rating and set a $350.00 target price on shares of BeiGene in a report on Tuesday, February 28th. Finally, StockNews.com began coverage on BeiGene in a report on Thursday. They set a “hold” rating on the stock.

Insider Buying and Selling at BeiGene

In other news, insider Xiaodong Wang sold 900 shares of BeiGene stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $250.00, for a total value of $225,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO John Oyler sold 1,120 shares of BeiGene stock in a transaction that occurred on Tuesday, December 27th. The stock was sold at an average price of $224.29, for a total transaction of $251,204.80. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Xiaodong Wang sold 900 shares of BeiGene stock in a transaction on Monday, January 9th. The shares were sold at an average price of $250.00, for a total value of $225,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 80,668 shares of company stock valued at $18,469,758. Company insiders own 7.50% of the company’s stock.

Institutional Investors Weigh In On BeiGene

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. grew its stake in shares of BeiGene by 26.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 244 shares of the company’s stock valued at $54,000 after buying an additional 51 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new stake in shares of BeiGene in the third quarter valued at $61,000. CI Investments Inc. grew its stake in shares of BeiGene by 295.4% in the fourth quarter. CI Investments Inc. now owns 518 shares of the company’s stock valued at $114,000 after buying an additional 387 shares in the last quarter. 1832 Asset Management L.P. grew its stake in shares of BeiGene by 1,279.3% in the fourth quarter. 1832 Asset Management L.P. now owns 800 shares of the company’s stock valued at $176,000 after buying an additional 742 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its stake in shares of BeiGene by 8.3% in the third quarter. Rockefeller Capital Management L.P. now owns 885 shares of the company’s stock valued at $119,000 after buying an additional 68 shares in the last quarter. Hedge funds and other institutional investors own 51.43% of the company’s stock.

BeiGene Stock Performance

Shares of BeiGene stock opened at $223.32 on Thursday. The stock’s fifty day moving average is $244.26 and its two-hundred day moving average is $202.29. The company has a market capitalization of $23.28 billion, a PE ratio of -11.46 and a beta of 0.77. The company has a quick ratio of 3.35, a current ratio of 3.55 and a debt-to-equity ratio of 0.05. BeiGene has a 52 week low of $118.18 and a 52 week high of $280.62.

BeiGene (NASDAQ:BGNE – Get Rating) last announced its quarterly earnings data on Monday, February 27th. The company reported ($4.29) EPS for the quarter, missing the consensus estimate of ($4.18) by ($0.11). The business had revenue of $380.10 million during the quarter, compared to the consensus estimate of $388.17 million. BeiGene had a negative net margin of 141.86% and a negative return on equity of 39.72%. The business’s revenue was up 77.6% compared to the same quarter last year. During the same period last year, the company earned ($6.22) EPS. As a group, analysts expect that BeiGene will post -12.65 earnings per share for the current year.

BeiGene Company Profile

(Get Rating)

BeiGene Ltd. is a global, science-driven biotechnology company focused on developing innovative and affordable medicines to improve treatment outcomes and access for patients worldwide. The company was founded by Xiao Dong Wang and John V. Oyler on October 28, 2010 and is headquartered in George Town, KY.