Morgan Stanley Raises Beigene (BGNE) Price Target to $210.00

Beigene (NASDAQ:BGNE) had its price target hoisted by equities research analysts at Morgan Stanley from $200.00 to $210.00 in a report issued on Tuesday, BenzingaRatingsTable reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price target points to a potential upside of 70.10% from the company’s current price.

BGNE has been the subject of a number of other reports. Zacks Investment Research upgraded shares of Beigene from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. Maxim Group set a $170.00 target price on shares of Beigene and gave the stock a “buy” rating in a report on Thursday, February 28th. ValuEngine cut shares of Beigene from a “strong-buy” rating to a “buy” rating in a report on Friday, February 15th. BidaskClub cut shares of Beigene from a “buy” rating to a “hold” rating in a report on Friday, January 25th. Finally, Piper Jaffray Companies reduced their target price on shares of Beigene to $170.00 and set an “overweight” rating for the company in a report on Thursday, February 28th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $182.97.

Shares of NASDAQ:BGNE opened at $123.46 on Tuesday. The company has a market cap of $8.03 billion, a P/E ratio of -10.16 and a beta of 1.07. Beigene has a 1-year low of $105.19 and a 1-year high of $220.10. The company has a quick ratio of 7.82, a current ratio of 7.89 and a debt-to-equity ratio of 0.11.



Beigene (NASDAQ:BGNE) last issued its earnings results on Thursday, May 9th. The company reported ($2.81) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($3.15) by $0.34. The firm had revenue of $77.83 million during the quarter, compared to analysts’ expectations of $55.79 million. Beigene had a negative net margin of 302.58% and a negative return on equity of 44.53%. The firm’s revenue for the quarter was up 139.2% compared to the same quarter last year. During the same period last year, the firm posted ($2.03) earnings per share. As a group, sell-side analysts anticipate that Beigene will post -13.54 EPS for the current year.

In related news, Director Xiaodong Wang sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $146.82, for a total value of $734,100.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Donald W. Glazer sold 14,973 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $136.10, for a total transaction of $2,037,825.30. Following the completion of the sale, the director now owns 4,106,869 shares of the company’s stock, valued at approximately $558,944,870.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 77,476 shares of company stock valued at $11,038,087. 13.30% of the stock is owned by insiders.

Large investors have recently modified their holdings of the stock. Neuburgh Advisers LLC purchased a new stake in shares of Beigene in the 4th quarter valued at approximately $27,000. Cornerstone Advisors Inc. purchased a new stake in shares of Beigene in the 4th quarter valued at approximately $30,000. Advisor Group Inc. lifted its position in shares of Beigene by 301.4% in the 4th quarter. Advisor Group Inc. now owns 285 shares of the company’s stock valued at $40,000 after acquiring an additional 214 shares in the last quarter. PNC Financial Services Group Inc. purchased a new stake in shares of Beigene in the 4th quarter valued at approximately $46,000. Finally, Quadrant Capital Group LLC lifted its position in shares of Beigene by 131.8% in the 1st quarter. Quadrant Capital Group LLC now owns 364 shares of the company’s stock valued at $47,000 after acquiring an additional 207 shares in the last quarter. Institutional investors and hedge funds own 79.83% 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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Analyst Recommendations for Beigene (NASDAQ:BGNE)

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