Beigene (NASDAQ:BGNE) Earns Buy Rating from Guggenheim

Beigene (NASDAQ:BGNE)‘s stock had its “buy” rating reissued by stock analysts at Guggenheim in a research note issued on Friday, The Fly reports. They presently have a $228.00 price target on the stock, up from their previous price target of $205.00. Guggenheim’s price objective would suggest a potential upside of 16.32% from the stock’s current price.

Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. set a $215.00 price target on shares of Beigene and gave the stock a “buy” rating in a research note on Monday, November 4th. BidaskClub upgraded shares of Beigene from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Piper Jaffray Companies upped their target price on shares of Beigene from $180.00 to $200.00 in a research report on Friday, November 1st. Morgan Stanley lowered their target price on shares of Beigene from $201.00 to $200.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. Finally, ValuEngine lowered shares of Beigene from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $208.00.

Shares of Beigene stock traded down $2.24 on Friday, reaching $196.01. 308,400 shares of the stock were exchanged, compared to its average volume of 331,022. Beigene has a 1-year low of $108.00 and a 1-year high of $204.00. The company has a current ratio of 5.40, a quick ratio of 6.28 and a debt-to-equity ratio of 0.20. The business has a fifty day moving average price of $150.55 and a two-hundred day moving average price of $134.80. The firm has a market capitalization of $9.33 billion, a PE ratio of -16.13 and a beta of 1.00.

Beigene (NASDAQ:BGNE) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($5.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($3.56) by ($1.55). Beigene had a negative return on equity of 53.11% and a negative net margin of 192.75%. The firm had revenue of $50.14 million for the quarter, compared to analyst estimates of $65.43 million. During the same quarter last year, the firm earned ($2.53) earnings per share. The company’s revenue was down 7.5% compared to the same quarter last year. Research analysts expect that Beigene will post -12.44 EPS for the current year.

In other news, Director Timothy Yung-Cheng Chen sold 8,614 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $144.96, for a total value of $1,248,685.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CMO Jane Huang sold 2,862 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $144.45, for a total transaction of $413,415.90. Following the completion of the sale, the chief marketing officer now owns 291,667 shares in the company, valued at $42,131,298.15. The disclosure for this sale can be found here. Insiders have sold 58,680 shares of company stock worth $10,650,914 over the last 90 days. 13.40% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the company. Capital Investment Advisory Services LLC acquired a new stake in shares of Beigene in the second quarter valued at approximately $26,000. Ladenburg Thalmann Financial Services Inc. grew its position in shares of Beigene by 24.8% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 443 shares of the company’s stock valued at $55,000 after purchasing an additional 88 shares during the last quarter. Riverhead Capital Management LLC grew its position in shares of Beigene by 28.6% in the second quarter. Riverhead Capital Management LLC now owns 450 shares of the company’s stock valued at $56,000 after purchasing an additional 100 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new stake in shares of Beigene in the third quarter valued at approximately $58,000. Finally, Marshall Wace North America L.P. acquired a new stake in shares of Beigene in the first quarter valued at approximately $76,000.

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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The Fly

Analyst Recommendations for Beigene (NASDAQ:BGNE)

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