BeiGene (NASDAQ:BGNE) Trading 4.3% Higher After Analyst Upgrade

BeiGene, Ltd. (NASDAQ:BGNE - Get Free Report) traded up 4.3% during mid-day trading on Thursday after TD Cowen raised their price target on the stock from $235.00 to $236.00. TD Cowen currently has a buy rating on the stock. BeiGene traded as high as $150.38 and last traded at $150.34. 109,824 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 255,402 shares. The stock had previously closed at $144.12.

A number of other research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of BeiGene from $184.00 to $186.00 and gave the stock an "overweight" rating in a report on Tuesday, March 19th. Bank of America decreased their price target on shares of BeiGene from $179.30 to $164.30 and set a "neutral" rating for the company in a report on Monday, April 8th. Guggenheim decreased their price target on shares of BeiGene from $350.00 to $345.00 and set a "buy" rating for the company in a report on Tuesday, February 27th. Finally, Sanford C. Bernstein cut their price objective on shares of BeiGene from $196.00 to $161.00 and set a "market perform" rating on the stock in a research note 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 company presently has an average rating of "Moderate Buy" and a consensus target price of $250.13.

Insider Activity at BeiGene

In related news, CFO Julia Aijun Wang sold 397 shares of the firm's stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $167.08, for a total transaction of $66,330.76. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO Julia Aijun Wang sold 397 shares of the firm's stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $167.08, for a total transaction of $66,330.76. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO John Oyler sold 26,716 shares of the firm's stock in a transaction on 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 owns 12,084 shares in the company, valued at approximately $1,799,186.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 64,781 shares of company stock worth $10,222,381. 7.40% of the stock is owned by company insiders.

Institutional Trading of BeiGene

Several institutional investors have recently modified their holdings of the stock. Simplicity Wealth LLC purchased a new position in shares of BeiGene in the first quarter worth about $885,000. Venturi Wealth Management LLC raised its stake in BeiGene by 87.0% during the first quarter. Venturi Wealth Management LLC now owns 2,845 shares of the company's stock worth $445,000 after purchasing an additional 1,324 shares during the period. LVW Advisors LLC raised its stake in BeiGene by 50.2% during the first quarter. LVW Advisors LLC now owns 1,957 shares of the company's stock worth $306,000 after purchasing an additional 654 shares during the period. Goldman Sachs Group Inc. raised its stake in BeiGene by 175.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 214,339 shares of the company's stock worth $38,658,000 after purchasing an additional 136,458 shares during the period. Finally, Virtu Financial LLC raised its stake in BeiGene by 94.2% during the fourth quarter. Virtu Financial LLC now owns 5,319 shares of the company's stock worth $959,000 after purchasing an additional 2,580 shares during the period. Institutional investors and hedge funds own 48.55% of the company's stock.

BeiGene Stock Up 3.1 %

The company has a debt-to-equity ratio of 0.06, a current ratio of 2.32 and a quick ratio of 2.09. The business's 50 day simple moving average is $154.68 and its 200 day simple moving average is $167.53. The company has a market capitalization of $14.21 billion, a PE ratio of -17.98 and a beta of 0.61.

BeiGene (NASDAQ:BGNE - Get Free Report) last issued its earnings results on Monday, February 26th. The company reported ($3.53) EPS for the quarter, topping analysts' consensus estimates of ($3.61) by $0.08. The company had revenue of $634.40 million for 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%. BeiGene's quarterly revenue was up 66.9% compared to the same quarter last year. During the same period in the previous year, the firm earned ($4.29) earnings per share. As a group, analysts anticipate that BeiGene, Ltd. will post -8.87 earnings per share for the current fiscal year.

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.