BeiGene, Ltd. (NASDAQ:BGNE) Receives Average Analyst Rating of “Moderate Buy”

Shares of BeiGene, Ltd. (NASDAQ: BGNE – Get a rating) have been given an average rating of “moderate buy” by the seven rating agencies that currently cover the company, reports MarketBeat Ratings. One analyst rated the stock with a sell rating, one issued a hold rating and five issued a buy rating on the company. The 12-month average target price among brokers who have issued ratings on the stock over the past year is $315.33.

A number of research analysts have published reports on the company. Morgan Stanley raised its price target on BeiGene from $330.00 to $338.00 and gave the company an “overweight” rating in a Tuesday, April 12 research note. StockNews.com downgraded BeiGene from a “hold” rating to a “sell” rating in a Thursday, June 16 research note. Finally, SVB Leerink downgraded BeiGene from an “outperforming” rating to a “market performance” rating and lowered its price target for the stock from $300.00 to $177.00 in a research note. Thursday, March 17.

In other BeiGene news, an Insider Lai Wang sold 445 shares of the company in a transaction dated Friday, June 17. The stock was sold at an average price of $139.40, for a total value of $62,033.00. Following the completion of the transaction, the insider now owns 723 shares of the company, valued at approximately $100,786.20. The sale was disclosed in a filing with the SEC, accessible via the SEC website. Also, CFO Julia Aijun Wang sold 295 shares of the company in a transaction dated Friday, July 1. The stock was sold at an average price of $158.50, for a total value of $46,757.50. Disclosure of this sale can be found here. Insiders sold a total of 14,465 shares of the company valued at $2,229,388 during the last quarter. 8.90% of the shares are held by insiders.

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A number of hedge funds and other institutional investors have recently changed their holdings in BGNE. Capital International Investors increased its stake in BeiGene by 11.2% in the 1st quarter. Capital International Investors now owns 7,055,295 shares of the company worth $1,337,378,000 after purchasing an additional 711,396 shares during the period. Bank of America Corp DE increased its stake in BeiGene shares by 77.1% in Q1. Bank of America Corp DE now owns 414,466 shares of the company valued at $78,169,000 after acquiring an additional 180,470 shares last quarter. Bridgewater Associates LP increased its equity stake in BeiGene by 67.3% in Q1. Bridgewater Associates LP now owns 383,818 shares of the company valued at $72,388,000 after acquiring an additional 154,335 shares last quarter. Zeal Asset Management Ltd increased its stake in BeiGene shares by 266.3% in Q1. Zeal Asset Management Ltd now owns 194,838 shares in the company valued at $38,098,000 after acquiring an additional 141,646 shares last quarter. Finally, Capital Group International Inc. CA increased its stake in BeiGene shares by 14.1% in the 1st quarter. Capital Group International Inc. CA now owns 1,140,960 shares of the company valued at $215,185,000 after acquiring an additional 141,133 shares last quarter.

The NASDAQ BGNE opened at $188.74 on Friday. The company has a market capitalization of $19.49 billion, a P/E ratio of -9.39 and a beta of 0.72. The company has a fifty-day simple moving average of $148.31 and a 200-day simple moving average of $188.89. BeiGene has a 12-month low of $118.18 and a 12-month high of $426.56. The company has a current ratio of 5.05, a quick ratio of 4.87 and a debt ratio of 0.03.

BeiGene (NASDAQ: BGNE – Get a rating) last released its quarterly results on Thursday, May 5. The company reported EPS ($4.24) for the quarter, beating analyst consensus estimates of ($4.52) by $0.28. The company posted revenue of $306.60 million in the quarter, compared to analyst estimates of $300.41 million. BeiGene had a negative return on equity of 40.10% and a negative net margin of 218.25%. BeiGene’s revenue decreased by 49.4% compared to the same quarter last year. As a group, sell-side analysts expect BeiGene to post EPS of -15.54 for the current fiscal year.

BeiGene Company Profile (Get a rating)

BeiGene, Ltd., a biotechnology company, focuses on the discovery, development, manufacture and marketing of various drugs globally. Its products include BRUKINSA to treat relapsed/refractory (R/R) mantle cell lymphoma; Tislelizumab to treat classic R/R Hodgkin’s lymphoma; REVLIMID to treat multiple myeloma; VIDAZA to treat myelodysplastic syndromes, chronic myelomonocytic leukemia and acute myeloid leukemia; XGEVA to treat giant cell tumor of bone; BLINCYTO to treat acute lymphoblastic leukaemia; KYPROLIS to treat R/R multiple myeloma; SYLVANT to treat idiopathic multicentric Castleman’s disease; QARZIBA to treat neuroblastoma; Pamiparib for the treatment of various solid tumors; and Pobevcy to treat metastatic colorectal cancer, liver cancer and non-small cell lung cancer (NSCLC).

Further reading

Analyst Recommendations for BeiGene (NASDAQ: BGNE)

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