BeiGene, Ltd. (NASDAQ:BGNE) to Post Q1 2024 Earnings of ($2.63) Per Share, Leerink Partnrs Forecasts

BeiGene, Ltd. (NASDAQ:BGNE - Free Report) - Equities research analysts at Leerink Partnrs reduced their Q1 2024 earnings per share estimates for shares of BeiGene in a report issued on Wednesday, April 24th. Leerink Partnrs analyst A. Berens now expects that the company will earn ($2.63) per share for the quarter, down from their previous estimate of ($2.43). The consensus estimate for BeiGene's current full-year earnings is ($8.93) per share. Leerink Partnrs also issued estimates for BeiGene's Q2 2024 earnings at ($2.53) EPS, Q3 2024 earnings at ($2.31) EPS, Q4 2024 earnings at ($2.15) EPS, FY2024 earnings at ($9.61) EPS, FY2025 earnings at ($4.91) EPS, FY2026 earnings at $1.73 EPS and FY2027 earnings at $7.32 EPS.

BeiGene (NASDAQ:BGNE - Get Free Report) last posted its earnings results on Monday, February 26th. The company reported ($3.53) earnings per share for the quarter, topping the consensus estimate of ($3.61) by $0.08. The firm had revenue of $634.40 million during the quarter, compared to the consensus estimate of $632.52 million. BeiGene had a negative net margin of 35.86% and a negative return on equity of 23.12%. The company's revenue was up 66.9% on a year-over-year basis. During the same quarter last year, the company earned ($4.29) earnings per share.

Several other equities analysts have also recently weighed in on the company. Guggenheim reduced their price target on BeiGene from $350.00 to $345.00 and set a "buy" rating for the company in a research report on Tuesday, February 27th. JPMorgan Chase & Co. upped their price target on BeiGene from $184.00 to $186.00 and gave the company an "overweight" rating in a research report on Tuesday, March 19th. Bank of America lowered their price target on shares of BeiGene from $179.30 to $164.30 and set a "neutral" rating on the stock in a report on Monday, April 8th. TD Cowen boosted their price objective on shares of BeiGene from $235.00 to $236.00 and gave the company a "buy" rating in a research note on Wednesday, April 24th. Finally, Sanford C. Bernstein decreased their target price on shares of BeiGene from $196.00 to $161.00 and set a "market perform" rating on the stock in a report on Wednesday, March 27th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $250.13.

BeiGene Stock Performance

BGNE stock traded up $2.95 during midday trading on Monday, reaching $156.53. 185,726 shares of the company's stock traded hands, compared to its average volume of 257,811. The firm has a market capitalization of $14.97 billion, a PE ratio of -18.42 and a beta of 0.61. The company has a 50-day moving average price of $155.00 and a two-hundred day moving average price of $166.95. BeiGene has a 52 week low of $126.97 and a 52 week high of $266.67. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.09 and a current ratio of 2.32.

Insider Transactions at BeiGene

In related news, CEO John Oyler sold 37,668 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $164.02, for a total value of $6,178,305.36. Following the transaction, the chief executive officer now owns 12,332 shares of the company's stock, valued at $2,022,694.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other BeiGene news, CEO John Oyler sold 37,668 shares of the company's stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $164.02, for a total value of $6,178,305.36. Following the completion of the sale, the chief executive officer now owns 12,332 shares of the company's stock, valued at $2,022,694.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Julia Aijun Wang sold 397 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $167.08, for a total transaction of $66,330.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 64,781 shares of company stock valued at $10,222,381. Insiders own 7.40% of the company's stock.

Institutional Trading of BeiGene

Several institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its stake in shares of BeiGene by 57.4% in the 3rd quarter. Wellington Management Group LLP now owns 55,478 shares of the company's stock valued at $9,979,000 after acquiring an additional 20,239 shares during the last quarter. XY Capital Ltd boosted its stake in shares of BeiGene by 1,205.3% during the third quarter. XY Capital Ltd now owns 15,416 shares of the company's stock valued at $2,773,000 after purchasing an additional 14,235 shares during the period. FMR LLC grew its holdings in shares of BeiGene by 3.0% in the third quarter. FMR LLC now owns 2,352,730 shares of the company's stock worth $423,186,000 after purchasing an additional 69,297 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of BeiGene by 53.6% in the third quarter. Envestnet Asset Management Inc. now owns 46,682 shares of the company's stock worth $8,397,000 after purchasing an additional 16,295 shares during the last quarter. Finally, TD Asset Management Inc increased its stake in shares of BeiGene by 91.9% in the third quarter. TD Asset Management Inc now owns 100,256 shares of the company's stock worth $18,033,000 after buying an additional 48,018 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.