BeiGene (NASDAQ:BGNE) Shares Gap Down – Here’s Why

BeiGene, Ltd. (NASDAQ:BGNEGet Free Report) shares gapped down prior to trading on Monday . The stock had previously closed at $236.10, but opened at $228.73. BeiGene shares last traded at $225.32, with a volume of 96,668 shares trading hands.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Citigroup upped their price target on BeiGene from $269.00 to $288.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Bank of America lowered their target price on BeiGene from $180.00 to $152.50 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. JPMorgan Chase & Co. lifted their price target on shares of BeiGene from $194.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Finally, JMP Securities started coverage on shares of BeiGene in a report on Wednesday, September 18th. They set a “market outperform” rating and a $288.00 price objective on the stock. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $241.21.

Read Our Latest Stock Report on BGNE

BeiGene Stock Performance

The company’s 50 day moving average price is $202.89 and its 200-day moving average price is $171.29. The stock has a market cap of $22.06 billion, a P/E ratio of -29.55 and a beta of 0.62. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.98.

BeiGene (NASDAQ:BGNEGet Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($1.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.27) by $1.12. BeiGene had a negative net margin of 16.91% and a negative return on equity of 14.93%. The business had revenue of $929.20 million during the quarter, compared to the consensus estimate of $810.34 million. During the same period in the prior year, the firm posted ($3.64) EPS. The firm’s quarterly revenue was up 56.1% compared to the same quarter last year. Equities analysts forecast that BeiGene, Ltd. will post -5.07 EPS for the current fiscal year.

Insider Buying and Selling

In other BeiGene news, SVP Chan Henry Lee sold 834 shares of the company’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $160.57, for a total value of $133,915.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other BeiGene news, SVP Chan Henry Lee sold 834 shares of BeiGene stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $160.57, for a total value of $133,915.38. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO John Oyler sold 6,175 shares of the stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $232.22, for a total transaction of $1,433,958.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,904 shares of company stock worth $5,034,965. 7.43% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Capital International Investors raised its stake in BeiGene by 11.5% in the 1st quarter. Capital International Investors now owns 7,064,428 shares of the company’s stock valued at $1,104,806,000 after acquiring an additional 727,556 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of BeiGene in the second quarter valued at approximately $54,412,000. M&G Plc purchased a new stake in shares of BeiGene during the 1st quarter valued at approximately $29,649,000. Goldman Sachs Group Inc. lifted its stake 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 valued at $38,658,000 after buying an additional 136,458 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in BeiGene by 6.2% in 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 buying an additional 117,905 shares during the period. Hedge funds and other institutional investors own 48.55% of the company’s stock.

BeiGene Company Profile

(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.

Featured Articles

Receive News & Ratings for BeiGene Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BeiGene and related companies with MarketBeat.com's FREE daily email newsletter.