BeiGene (NASDAQ:BGNE) Given New $152.50 Price Target at Bank of America

BeiGene (NASDAQ:BGNE) had its target price decreased by Bank of America from $180.00 to $152.50 in a report published on Tuesday morning, Benzinga reports. Bank of America currently has a neutral rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. TD Cowen increased their target price on shares of BeiGene from $236.00 to $254.00 and gave the company a buy rating in a research report on Thursday, May 9th. JPMorgan Chase & Co. increased their price objective on BeiGene from $184.00 to $186.00 and gave the company an overweight rating in a report on Tuesday, March 19th. Finally, Sanford C. Bernstein decreased their price target on BeiGene from $196.00 to $161.00 and set a market perform rating for the company in a research note on Wednesday, March 27th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $250.75.

BeiGene Trading Up 3.1 %

NASDAQ BGNE opened at $150.50 on Tuesday. The company’s 50-day simple moving average is $156.37 and its two-hundred day simple moving average is $157.69. BeiGene has a one year low of $126.97 and a one year high of $225.23. The company has a market capitalization of $14.58 billion, a price-to-earnings ratio of -19.88 and a beta of 0.59. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.84 and a current ratio of 2.08.

BeiGene (NASDAQ:BGNE) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($2.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.07) by $0.66. The company had revenue of $751.70 million for the quarter, compared to the consensus estimate of $670.09 million. BeiGene had a negative return on equity of 21.70% and a negative net margin of 28.39%. The firm’s revenue for the quarter was up 67.9% compared to the same quarter last year. During the same quarter last year, the company earned ($3.34) earnings per share. Equities analysts forecast that BeiGene will post -8.2 EPS for the current fiscal year.

Insider Activity at BeiGene

In other BeiGene news, COO Xiaobin Wu sold 1,459 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $159.79, for a total transaction of $233,133.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, COO Xiaobin Wu sold 1,459 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $159.79, for a total value of $233,133.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Julia Aijun Wang sold 472 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $143.90, for a total value of $67,920.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,683 shares of company stock valued at $1,056,089. 7.43% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its holdings in shares of BeiGene by 57.4% during the 3rd quarter. Wellington Management Group LLP now owns 55,478 shares of the company’s stock worth $9,979,000 after purchasing an additional 20,239 shares during the period. Clear Harbor Asset Management LLC purchased a new position in shares of BeiGene in the fourth quarter valued at approximately $208,000. JGP Global Gestao de Recursos Ltda. grew its holdings in shares of BeiGene by 135.5% in the fourth quarter. JGP Global Gestao de Recursos Ltda. now owns 9,845 shares of the company’s stock valued at $1,776,000 after purchasing an additional 5,665 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its stake in BeiGene by 350.5% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 4,856 shares of the company’s stock worth $876,000 after buying an additional 3,778 shares during the period. Finally, NewEdge Wealth LLC boosted its position in BeiGene by 7.5% in the 4th quarter. NewEdge Wealth LLC now owns 1,612 shares of the company’s stock valued at $291,000 after buying an additional 112 shares during the period. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

About BeiGene

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.