Zacks: Brokerages Expect Beigene Ltd (BGNE) Will Post Earnings of -$3.38 Per Share

Wall Street analysts forecast that Beigene Ltd (NASDAQ:BGNE) will report earnings per share (EPS) of ($3.38) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Beigene’s earnings, with the lowest EPS estimate coming in at ($3.60) and the highest estimate coming in at ($3.04). Beigene posted earnings of ($2.03) per share in the same quarter last year, which suggests a negative year-over-year growth rate of 66.5%. The firm is scheduled to report its next earnings results on Wednesday, May 8th.

According to Zacks, analysts expect that Beigene will report full year earnings of ($14.21) per share for the current year, with EPS estimates ranging from ($16.01) to ($11.47). For the next fiscal year, analysts anticipate that the company will report earnings of ($14.10) per share, with EPS estimates ranging from ($16.35) to ($10.59). Zacks’ EPS averages are an average based on a survey of research analysts that follow Beigene.

Beigene (NASDAQ:BGNE) last announced its quarterly earnings data on Wednesday, February 27th. The company reported ($4.52) EPS for the quarter, missing the consensus estimate of ($2.87) by ($1.65). The firm had revenue of $58.67 million for the quarter, compared to the consensus estimate of $59.37 million. Beigene had a negative net margin of 339.91% and a negative return on equity of 42.63%. Beigene’s revenue for the quarter was up 222.8% compared to the same quarter last year. During the same quarter last year, the company posted ($2.19) earnings per share.

Several brokerages recently weighed in on BGNE. BidaskClub upgraded Beigene from a “hold” rating to a “buy” rating in a report on Friday, April 5th. ValuEngine cut Beigene from a “strong-buy” rating to a “buy” rating in a report on Friday, February 15th. Zacks Investment Research upgraded Beigene from a “hold” rating to a “buy” rating and set a $154.00 target price for the company in a report on Tuesday, January 15th. Maxim Group restated a “buy” rating and set a $170.00 target price on shares of Beigene in a report on Monday, December 17th. Finally, Bank of America began coverage on Beigene in a report on Friday, March 15th. They set a “buy” rating and a $200.00 target price for the company. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $177.68.

Shares of BGNE stock opened at $130.10 on Friday. The stock has a market cap of $7.77 billion, a P/E ratio of -10.71 and a beta of 1.18. Beigene has a 1-year low of $105.19 and a 1-year high of $220.10. The company has a debt-to-equity ratio of 0.11, a current ratio of 7.89 and a quick ratio of 7.82.

In other Beigene news, Director Xiaodong Wang sold 5,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $146.82, for a total value of $734,100.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John Oyler sold 4,588 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $152.01, for a total value of $697,421.88. Following the completion of the sale, the chief executive officer now owns 17,298,245 shares of the company’s stock, valued at approximately $2,629,506,222.45. The disclosure for this sale can be found here. Insiders have sold a total of 66,897 shares of company stock valued at $9,709,044 over the last 90 days. 13.30% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in shares of Beigene by 9.2% in the 3rd quarter. BlackRock Inc. now owns 475,337 shares of the company’s stock valued at $81,863,000 after purchasing an additional 39,948 shares during the period. Cornerstone Advisors Inc. purchased a new position in shares of Beigene in the 4th quarter valued at approximately $30,000. Daiwa Securities Group Inc. lifted its stake in shares of Beigene by 953.8% in the 4th quarter. Daiwa Securities Group Inc. now owns 2,055 shares of the company’s stock valued at $288,000 after purchasing an additional 1,860 shares during the period. Vanguard Group Inc. lifted its stake in shares of Beigene by 11.0% in the 3rd quarter. Vanguard Group Inc. now owns 1,064,236 shares of the company’s stock valued at $183,283,000 after purchasing an additional 105,702 shares during the period. Finally, Belpointe Asset Management LLC lifted its stake in shares of Beigene by 314.5% in the 3rd quarter. Belpointe Asset Management LLC now owns 15,998 shares of the company’s stock valued at $2,755,000 after purchasing an additional 12,138 shares during the period. Institutional investors and hedge funds own 79.85% of the company’s stock.

Beigene Company Profile

BeiGene, Ltd., a commercial-stage biotechnology company, develops and commercializes molecularly-targeted and immuno-oncology drugs for the treatment of cancer in the People's Republic of China, the United States, and internationally. Its commercial products include ABRAXANE, a chemotherapy product for the treatment of breast, non-small cell lung, pancreatic, and gastric cancers; 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 myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia with 20% to 30% blasts and multi-lineage dysplasia.

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