Zacks: Analysts Anticipate Beigene Ltd (BGNE) Will Announce Quarterly Sales of $52.77 Million

Brokerages predict that Beigene Ltd (NASDAQ:BGNE) will report $52.77 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Beigene’s earnings. The highest sales estimate is $65.31 million and the lowest is $40.00 million. Beigene reported sales of $32.54 million during the same quarter last year, which indicates a positive year-over-year growth rate of 62.2%. The firm is scheduled to announce its next earnings report on Wednesday, May 8th.

According to Zacks, analysts expect that Beigene will report full-year sales of $302.23 million for the current financial year, with estimates ranging from $180.00 million to $456.45 million. For the next year, analysts forecast that the company will report sales of $406.54 million, with estimates ranging from $312.40 million to $560.99 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for Beigene.

Beigene (NASDAQ:BGNE) last posted its quarterly earnings data on Wednesday, February 27th. The company reported ($4.52) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.87) by ($1.65). The firm had revenue of $58.67 million for the quarter, compared to the consensus estimate of $59.37 million. Beigene had a negative return on equity of 42.63% and a negative net margin of 339.91%. The company’s revenue for the quarter was up 222.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($2.19) EPS.

A number of brokerages recently issued reports on BGNE. Piper Jaffray Companies dropped their price objective on shares of Beigene to $170.00 and set an “overweight” rating for the company in a report on Thursday, February 28th. Maxim Group reiterated a “buy” rating and issued a $170.00 price objective on shares of Beigene in a report on Thursday, January 3rd. BidaskClub lowered shares of Beigene from a “buy” rating to a “hold” rating in a report on Friday, January 25th. Bank of America began coverage on shares of Beigene in a report on Friday, March 15th. They issued a “buy” rating and a $200.00 price objective for the company. Finally, Zacks Investment Research lowered shares of Beigene from a “buy” rating to a “hold” rating in a report on Wednesday, January 9th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $177.68.

Shares of BGNE stock traded down $6.71 on Friday, reaching $121.92. The company had a trading volume of 17,596 shares, compared to its average volume of 265,327. The stock has a market capitalization of $7.68 billion, a P/E ratio of -10.01 and a beta of 1.18. The company has a current ratio of 7.89, a quick ratio of 7.82 and a debt-to-equity ratio of 0.11. Beigene has a one year low of $105.19 and a one year high of $220.10.

In other Beigene news, Director Xiaodong Wang sold 5,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $146.82, for a total transaction of $734,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Jane Huang sold 14,130 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $142.77, for a total transaction of $2,017,340.10. Following the sale, the chief marketing officer now directly owns 271,621 shares of the company’s stock, valued at approximately $38,779,330.17. The disclosure for this sale can be found here. Insiders have sold a total of 66,897 shares of company stock valued at $9,709,044 in the last three months. Insiders own 13.30% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in BGNE. Hillhouse Capital Advisors Ltd. acquired a new stake in Beigene during the 4th quarter valued at approximately $622,467,000. BlackRock Inc. grew its position in shares of Beigene by 294.9% during the 4th quarter. BlackRock Inc. now owns 1,877,110 shares of the company’s stock worth $263,281,000 after buying an additional 1,401,773 shares during the period. Northern Trust Corp grew its position in shares of Beigene by 22,043.2% during the 4th quarter. Northern Trust Corp now owns 566,423 shares of the company’s stock worth $79,446,000 after buying an additional 563,865 shares during the period. Norges Bank acquired a new stake in shares of Beigene during the 4th quarter worth approximately $47,799,000. Finally, Fiera Capital Corp grew its position in shares of Beigene by 3,554.4% during the 4th quarter. Fiera Capital Corp now owns 215,464 shares of the company’s stock worth $30,221,000 after buying an additional 209,568 shares during the period. 79.85% of the stock is owned by institutional investors and hedge funds.

About Beigene

BeiGene, Ltd., a commercial-stage biotechnology company, develops and commercializes molecularly-targeted and immuno-oncology drugs for the treatment of cancer in the People's Republic of China, the United States, and internationally. Its commercial products include ABRAXANE, a chemotherapy product for the treatment of breast, non-small cell lung, pancreatic, and gastric cancers; REVLIMID, an oral immunomodulatory drug for the treatment of multiple myeloma in combination with dexamethasone; and VIDAZA, a pyrimidine nucleoside analog for the treatment of intermediate-2 and myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia with 20% to 30% blasts and multi-lineage dysplasia.

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