BeiGene, Ltd. (NASDAQ:BGNE - Free Report) - Equities researchers at Leerink Partnrs lifted their Q2 2024 earnings per share (EPS) estimates for shares of BeiGene in a report released on Wednesday, May 8th. Leerink Partnrs analyst A. Berens now anticipates that the company will post earnings per share of ($2.36) for the quarter, up from their previous estimate of ($2.53). The consensus estimate for BeiGene's current full-year earnings is ($8.23) per share. Leerink Partnrs also issued estimates for BeiGene's Q3 2024 earnings at ($2.15) EPS, Q4 2024 earnings at ($2.07) EPS, FY2024 earnings at ($8.99) EPS, FY2025 earnings at ($4.28) EPS and FY2026 earnings at $2.66 EPS.
BeiGene (NASDAQ:BGNE - Get Free Report) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($2.41) EPS for the quarter, topping the consensus estimate of ($3.07) by $0.66. BeiGene had a negative net margin of 28.39% and a negative return on equity of 21.70%. The company had revenue of $751.70 million during the quarter, compared to the consensus estimate of $670.09 million. During the same period last year, the firm earned ($3.34) EPS. BeiGene's revenue for the quarter was up 67.9% on a year-over-year basis.
A number of other research firms have also weighed in on BGNE. JPMorgan Chase & Co. lifted their target price on BeiGene from $184.00 to $186.00 and gave the company an "overweight" rating in a report on Tuesday, March 19th. Guggenheim reduced their price objective on shares of BeiGene from $350.00 to $345.00 and set a "buy" rating for the company in a research note on Tuesday, February 27th. Bank of America lowered their target price on shares of BeiGene from $179.30 to $164.30 and set a "neutral" rating on the stock in a research note on Monday, April 8th. TD Cowen boosted their price target on shares of BeiGene from $236.00 to $254.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Sanford C. Bernstein lowered their price objective on BeiGene from $196.00 to $161.00 and set a "market perform" rating on the stock in a research report on Wednesday, March 27th. Three equities research 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 stock has an average rating of "Moderate Buy" and an average price target of $251.93.
Read Our Latest Stock Analysis on BeiGene
BeiGene Stock Performance
Shares of NASDAQ BGNE traded up $1.04 during mid-day trading on Monday, hitting $162.17. The company had a trading volume of 108,508 shares, compared to its average volume of 250,432. The company has a current ratio of 2.08, a quick ratio of 1.84 and a debt-to-equity ratio of 0.06. BeiGene has a 1 year low of $126.97 and a 1 year high of $245.74. The company has a market capitalization of $15.52 billion, a price-to-earnings ratio of -21.42 and a beta of 0.63. The stock's 50-day moving average price is $154.79 and its 200-day moving average price is $166.42.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Headlands Technologies LLC purchased a new position in shares of BeiGene in the 1st quarter worth $50,000. Toronto Dominion Bank lifted its position in shares of BeiGene by 166.4% during the 3rd quarter. Toronto Dominion Bank now owns 333 shares of the company's stock valued at $60,000 after buying an additional 208 shares in the last quarter. Knights of Columbus Asset Advisors LLC increased its holdings in BeiGene by 20.5% in the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 447 shares of the company's stock worth $80,000 after acquiring an additional 76 shares in the last quarter. Benjamin F. Edwards & Company Inc. bought a new stake in BeiGene during the 4th quarter worth approximately $98,000. Finally, PNC Financial Services Group Inc. raised its position in shares of BeiGene by 123.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 732 shares of the company's stock valued at $132,000 after purchasing an additional 405 shares during the period. Institutional investors own 48.55% of the company's stock.
Insider Buying and Selling
In other news, CEO John Oyler sold 26,716 shares of the company's stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $148.89, for a total value of $3,977,745.24. Following the sale, the chief executive officer now directly owns 12,084 shares of the company's stock, valued at approximately $1,799,186.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Julia Aijun Wang sold 397 shares of BeiGene stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $167.08, for a total value of $66,330.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO John Oyler sold 26,716 shares of the stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $148.89, for a total transaction of $3,977,745.24. Following the sale, the chief executive officer now directly owns 12,084 shares in the company, valued at $1,799,186.76. The disclosure for this sale can be found here. Insiders sold 64,781 shares of company stock worth $10,222,381 in the last quarter. 7.40% of the stock is owned by insiders.
BeiGene Company Profile
(
Get Free Report)
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.
Featured Articles
Before you consider BeiGene, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and BeiGene wasn't on the list.
While BeiGene currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
