BeiGene (BGNE) Rating Lowered to Buy at BidaskClub

BidaskClub downgraded shares of BeiGene (NASDAQ:BGNE) from a strong-buy rating to a buy rating in a research report report published on Wednesday morning.

Several other research analysts have also recently weighed in on BGNE. Maxim Group set a $200.00 price objective on shares of BeiGene and gave the company a buy rating in a report on Thursday, May 10th. Zacks Investment Research raised shares of BeiGene from a sell rating to a hold rating in a report on Wednesday. Robert W. Baird reissued a hold rating and set a $138.00 price objective on shares of BeiGene in a report on Thursday, March 1st. Finally, ValuEngine raised shares of BeiGene from a hold rating to a buy rating in a report on Friday, June 1st. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $173.00.

Shares of NASDAQ BGNE opened at $176.23 on Wednesday. The company has a market capitalization of $10.75 billion, a PE ratio of -79.03 and a beta of 0.36. BeiGene has a 52-week low of $38.14 and a 52-week high of $220.10. The company has a debt-to-equity ratio of 0.12, a quick ratio of 11.12 and a current ratio of 11.18.

BeiGene (NASDAQ:BGNE) last issued its earnings results on Wednesday, May 9th. The company reported ($2.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.62) by ($0.41). The firm had revenue of $32.54 million for the quarter, compared to analysts’ expectations of $16.88 million. During the same quarter in the previous year, the company posted ($1.27) EPS. research analysts anticipate that BeiGene will post -8.4 earnings per share for the current year.

In other BeiGene news, CFO Howard Liang sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, March 19th. The shares were sold at an average price of $160.27, for a total transaction of $6,410,800.00. Following the completion of the sale, the chief financial officer now directly owns 15,872 shares of the company’s stock, valued at $2,543,805.44. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 14.10% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Temasek Holdings Private Ltd increased its stake in shares of BeiGene by 77.4% in the first quarter. Temasek Holdings Private Ltd now owns 2,270,100 shares of the company’s stock worth $381,377,000 after purchasing an additional 990,100 shares in the last quarter. Artal Group S.A. increased its stake in shares of BeiGene by 100.0% in the first quarter. Artal Group S.A. now owns 600,000 shares of the company’s stock worth $100,800,000 after purchasing an additional 300,000 shares in the last quarter. Indus Capital Partners LLC increased its stake in shares of BeiGene by 48.2% in the first quarter. Indus Capital Partners LLC now owns 564,089 shares of the company’s stock worth $94,767,000 after purchasing an additional 183,503 shares in the last quarter. BlackRock Inc. increased its stake in shares of BeiGene by 3.8% in the fourth quarter. BlackRock Inc. now owns 357,577 shares of the company’s stock worth $34,942,000 after purchasing an additional 13,232 shares in the last quarter. Finally, Prince Street Capital Management LLC increased its stake in shares of BeiGene by 1.4% in the fourth quarter. Prince Street Capital Management LLC now owns 350,800 shares of the company’s stock worth $34,281,000 after purchasing an additional 5,000 shares in the last quarter. 67.15% of the stock is owned by hedge funds and other institutional investors.

BeiGene Company Profile

BeiGene, Ltd., a clinical-stage biopharmaceutical company, develops and commercializes molecularly-targeted and immuno-oncology drugs for the treatment of cancer. Its commercial products include ABRAXANE, a solvent-free chemotherapy product for the treatment of breast, non-small cell lung, pancreatic, and gastric cancer; REVLIMID, an oral immunomodulatory drug for the treatment of multiple myeloma in combination with dexamethasone; and VIDAZA, a pyrimidine nucleoside analog for the treatment of intermediate-2 and high-risk myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia with 20% to 30% blasts and multi-lineage dysplasia.

Analyst Recommendations for BeiGene (NASDAQ:BGNE)

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