BeiGene (NASDAQ:BGNE) Shares Gap Down to $147.04

BeiGene, Ltd. (NASDAQ:BGNEGet Free Report)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $147.04, but opened at $142.11. BeiGene shares last traded at $144.41, with a volume of 20,180 shares traded.

Wall Street Analysts Forecast Growth

BGNE has been the subject of a number of recent analyst reports. Bank of America decreased their target price on BeiGene from $180.00 to $152.50 and set a “neutral” rating for the company in a research report on Tuesday. JPMorgan Chase & Co. boosted their target price on BeiGene from $184.00 to $186.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Sanford C. Bernstein decreased their target price on BeiGene from $196.00 to $161.00 and set a “market perform” rating for the company in a research report on Wednesday, March 27th. Finally, TD Cowen upped their price target on shares of BeiGene from $236.00 to $254.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $250.75.

Get Our Latest Stock Analysis on BGNE

BeiGene Stock Up 0.1 %

The stock has a 50 day moving average of $156.81 and a 200-day moving average of $157.82. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.84 and a current ratio of 2.08.

BeiGene (NASDAQ:BGNEGet Free Report) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($2.41) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.07) by $0.66. The company had revenue of $751.70 million during the quarter, compared to the consensus estimate of $670.09 million. BeiGene had a negative return on equity of 21.70% and a negative net margin of 28.39%. The firm’s revenue was up 67.9% on a year-over-year basis. During the same period in the previous year, the company posted ($3.34) EPS. On average, sell-side analysts expect that BeiGene, Ltd. will post -8.2 earnings per share for the current year.

Insider Activity at BeiGene

In related news, CEO John Oyler sold 2,789 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $159.58, for a total transaction of $445,068.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other BeiGene news, COO Xiaobin Wu sold 1,459 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $159.79, for a total value of $233,133.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John Oyler sold 2,789 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $159.58, for a total value of $445,068.62. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,683 shares of company stock worth $1,056,089. 7.43% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BGNE. Capital International Investors raised its holdings in shares of BeiGene by 11.5% during the 1st quarter. Capital International Investors now owns 7,064,428 shares of the company’s stock worth $1,104,806,000 after acquiring an additional 727,556 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of BeiGene by 6.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,026,094 shares of the company’s stock worth $316,862,000 after acquiring an additional 117,905 shares in the last quarter. Capital International Inc. CA raised its holdings in shares of BeiGene by 6.0% during the 1st quarter. Capital International Inc. CA now owns 858,364 shares of the company’s stock worth $134,240,000 after acquiring an additional 48,615 shares in the last quarter. First Trust Advisors LP purchased a new stake in shares of BeiGene during the 4th quarter worth approximately $39,632,000. Finally, Goldman Sachs Group Inc. raised its holdings in shares of BeiGene by 175.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 214,339 shares of the company’s stock worth $38,658,000 after acquiring an additional 136,458 shares in the last quarter. 48.55% of the stock is currently owned by institutional investors.

About BeiGene

(Get Free Report)

BeiGene, Ltd., through its subsidiaries, engages in the development and commercialization of oncology medicines worldwide. Its products include BRUKINSA to treat various blood cancers; TEVIMBRA to treat various solid tumor and blood cancers; PARTRUVIX for the treatment of various solid tumor malignancies; XGEVA to treat bone metastases from solid tumors and multiple myeloma, as well as giant cell tumor of bone; BLINCYTO to treat acute lymphoblastic leukemia; KYPROLIS to treat R/R multiple myeloma; REVLIMID to treat multiple myeloma; VIDAZA to treat myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia; SYLVANT to treat idiopathic multicentric castleman disease; QARZIBA to treat neuroblastoma; POBEVCY to treat metastatic colorectal cancer, liver cancer, and non-small cell lung cancer (NSCLC); BAITUOWEI, to treat breast and prostate cancers; TAFINLAR and MEKINIST to treat NSCLC and melanoma; VOTRIENT for advance renal cell carcinoma; AFINITOR for advance renal cell carcinoma, NET, SEGA, & breast cancers; and ZYKADIA to treat ALK + NSCLC.

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