Beigene Ltd (BGNE) Receives Average Recommendation of “Buy” from Analysts

Beigene Ltd (NASDAQ:BGNE) has earned an average recommendation of “Buy” from the twelve ratings firms that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $181.63.

BGNE has been the subject of several research reports. BidaskClub upgraded shares of Beigene from a “hold” rating to a “buy” rating in a research report on Saturday, January 12th. Bank of America initiated coverage on shares of Beigene in a research report on Friday, March 15th. They issued a “buy” rating and a $200.00 price objective for the company. Zacks Investment Research upgraded shares of Beigene from a “hold” rating to a “buy” rating and set a $147.00 price target for the company in a research report on Tuesday, January 8th. Piper Jaffray Companies lowered their price target on shares of Beigene to $170.00 and set an “overweight” rating for the company in a research report on Thursday, February 28th. Finally, Maxim Group reiterated a “buy” rating and set a $170.00 price target on shares of Beigene in a research report on Thursday, January 3rd.

In other news, Director Donald W. Glazer sold 14,973 shares of Beigene stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $136.10, for a total transaction of $2,037,825.30. Following the completion of the sale, the director now owns 4,106,869 shares in the company, valued at approximately $558,944,870.90. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Xiaodong Wang sold 5,000 shares of Beigene stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $146.82, for a total transaction of $734,100.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,767 shares of company stock valued at $7,691,704. 13.30% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in BGNE. Neuburgh Advisers LLC acquired a new stake in Beigene during the 4th quarter valued at approximately $27,000. Cornerstone Advisors Inc. purchased a new stake in shares of Beigene during the fourth quarter worth about $30,000. Krane Funds Advisors LLC purchased a new stake in shares of Beigene during the third quarter worth about $40,000. Advisor Group Inc. grew its position in shares of Beigene by 301.4% during the fourth quarter. Advisor Group Inc. now owns 285 shares of the company’s stock worth $40,000 after purchasing an additional 214 shares in the last quarter. Finally, PNC Financial Services Group Inc. purchased a new stake in shares of Beigene during the fourth quarter worth about $46,000. 79.85% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:BGNE traded up $6.42 during midday trading on Wednesday, reaching $138.42. 10,743 shares of the company’s stock were exchanged, compared to its average volume of 273,079. The company has a market capitalization of $7.88 billion, a price-to-earnings ratio of -11.36 and a beta of 1.18. Beigene has a 12 month low of $105.19 and a 12 month high of $220.10. The company has a debt-to-equity ratio of 0.11, a quick ratio of 7.82 and a current ratio of 7.89.

Beigene (NASDAQ:BGNE) last released its quarterly earnings data on Wednesday, February 27th. The company reported ($4.52) EPS for the quarter, missing analysts’ consensus estimates of ($2.87) by ($1.65). The business 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%. Beigene’s revenue was up 222.8% on a year-over-year basis. During the same period in the previous year, the business posted ($2.19) earnings per share. Sell-side analysts forecast that Beigene will post -14.21 EPS for the current year.

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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Analyst Recommendations for Beigene (NASDAQ:BGNE)

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