BeiGene (NASDAQ:BGNE) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a research note issued to investors on Wednesday, Zacks.com reports.
According to Zacks, "BeiGene, Ltd. is a biotechnology company which focused on immuno-oncological therapeutics. The company's clinical-stage drug candidates include BGB-3111, BGB-283, BGB-290, and BGB-A317. BeiGene, Ltd. is based in Camana Bay, Cayman Islands. "
Several other research analysts have also commented on BGNE. ValuEngine raised shares of BeiGene from a "hold" rating to a "buy" rating in a report on Tuesday, December 1st. Maxim Group downgraded shares of BeiGene from a "buy" rating to a "hold" rating in a research report on Friday, November 6th. Piper Sandler boosted their price target on shares of BeiGene from $185.00 to $190.00 in a research report on Tuesday. Morgan Stanley boosted their price target on shares of BeiGene from $270.00 to $310.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 11th. Finally, SVB Leerink boosted their target price on shares of BeiGene from $240.00 to $327.00 and gave the stock an "outperform" rating in a report on Thursday, November 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of "Hold" and an average price target of $258.04.
Shares of BGNE traded up $21.21 during midday trading on Wednesday, hitting $310.14. The company had a trading volume of 544,346 shares, compared to its average volume of 392,518. The company's 50 day moving average price is $253.43 and its 200 day moving average price is $254.24. The stock has a market cap of $28.20 billion, a price-to-earnings ratio of -15.35 and a beta of 0.91. BeiGene has a 52 week low of $118.55 and a 52 week high of $322.98. The company has a quick ratio of 7.64, a current ratio of 7.69 and a debt-to-equity ratio of 0.04.
BeiGene (NASDAQ:BGNE) last released its earnings results on Thursday, November 5th. The company reported ($4.81) earnings per share for the quarter, missing the Thomson Reuters' consensus estimate of ($4.12) by ($0.69). The company had revenue of $91.08 million during the quarter, compared to the consensus estimate of $78.50 million. BeiGene had a negative return on equity of 56.81% and a negative net margin of 569.22%. Equities analysts anticipate that BeiGene will post -17.83 EPS for the current fiscal year.
In other news, CMO Jane Huang sold 1,500 shares of the business's stock in a transaction that occurred on Tuesday, December 29th. The shares were sold at an average price of $249.13, for a total transaction of $373,695.00. Following the sale, the chief marketing officer now owns 285,583 shares in the company, valued at $71,147,292.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bros. Advisors Lp Baker sold 121,154 shares of the business's stock in a transaction that occurred on Monday, January 4th. The shares were sold at an average price of $220.50, for a total transaction of $26,714,457.00. The disclosure for this sale can be found here. Insiders sold a total of 222,554 shares of company stock worth $50,588,748 over the last quarter. Insiders own 9.00% of the company's stock.
Several hedge funds have recently added to or reduced their stakes in BGNE. Boxer Capital LLC raised its holdings in shares of BeiGene by 20.5% during the third quarter. Boxer Capital LLC now owns 1,114,188 shares of the company's stock valued at $319,148,000 after acquiring an additional 189,188 shares during the period. USS Investment Management Ltd purchased a new position in BeiGene during the third quarter valued at approximately $34,344,000. Sands Capital Management LLC grew its position in BeiGene by 30.8% during the third quarter. Sands Capital Management LLC now owns 466,595 shares of the company's stock valued at $133,651,000 after purchasing an additional 109,754 shares in the last quarter. California Public Employees Retirement System grew its position in BeiGene by 82.1% during the third quarter. California Public Employees Retirement System now owns 240,287 shares of the company's stock valued at $68,828,000 after purchasing an additional 108,324 shares in the last quarter. Finally, State Street Corp grew its position in BeiGene by 9.8% during the third quarter. State Street Corp now owns 855,928 shares of the company's stock valued at $245,172,000 after purchasing an additional 76,257 shares in the last quarter. Institutional investors and hedge funds own 60.65% of the company's stock.
BeiGene, Ltd., a commercial-stage biotechnology company, develops and commercializes molecularly-targeted and immuno-oncology cancer therapeutics in the People's Republic of China, the United States, and internationally. Its commercial products include BRUKINSA to treat R/R mantle cell lymphoma; Tislelizumab to treat R/R classical Hodgkin's lymphoma; ABRAXANE to treat breast cancer; REVLIMID to treat multiple myeloma; VIDAZA to treat myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia; XGEVA to treat giant cell tumor of bone; KYPROLIS to treat multiple myeloma; BLINCYTO to treat acute lymphocytic leukemia; SYLVANT to treat idiopathic multicentric castleman disease; and QARZIBA to treat neuroblastoma.
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