BeiGene (NASDAQ:BGNE) Posts Quarterly Earnings Results, Misses Expectations By $0.04 EPS

BeiGene (NASDAQ:BGNE) issued its quarterly earnings data on Tuesday. The company reported ($1.15) EPS for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.04), Briefing.com reports. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $983.26 million. BeiGene had a negative return on equity of 25.15% and a negative net margin of 25.94%. The company’s revenue was up 28.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.01 earnings per share.

BeiGene Trading Up 0.9 %

Shares of BeiGene stock opened at $195.45 on Thursday. The stock has a market cap of $19.04 billion, a P/E ratio of -23.72 and a beta of 0.63. The company has a quick ratio of 1.75, a current ratio of 1.98 and a debt-to-equity ratio of 0.06. BeiGene has a 12-month low of $126.97 and a 12-month high of $248.16. The business’s 50 day moving average is $212.91 and its 200-day moving average is $181.72.

Analysts Set New Price Targets

A number of brokerages have recently commented on BGNE. TD Cowen boosted their price target on BeiGene from $254.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday. Citigroup lifted their target price on BeiGene from $269.00 to $288.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. JMP Securities assumed coverage on BeiGene in a research report on Wednesday, September 18th. They set a “market outperform” rating and a $288.00 price target for the company. StockNews.com upgraded shares of BeiGene from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. increased their target price on shares of BeiGene from $200.00 to $235.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, BeiGene has an average rating of “Moderate Buy” and a consensus price target of $247.07.

Insider Buying and Selling

In other BeiGene news, COO Xiaobin Wu sold 5,556 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $189.65, for a total transaction of $1,053,695.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, SVP Chan Henry Lee sold 1,202 shares of BeiGene stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $237.10, for a total transaction of $284,994.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Xiaobin Wu sold 5,556 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $189.65, for a total value of $1,053,695.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,070 shares of company stock worth $4,901,050. Insiders own 7.43% of the company’s stock.

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.