Beigene Ltd (BGNE) Expected to Post Earnings of -$3.38 Per Share

Wall Street brokerages expect that Beigene Ltd (NASDAQ:BGNE) will post ($3.38) earnings per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Beigene’s earnings. The highest EPS estimate is ($3.04) and the lowest is ($3.60). Beigene posted earnings of ($2.03) per share during the same quarter last year, which indicates a negative year over year growth rate of 66.5%. The business is scheduled to report its next quarterly earnings report on Wednesday, May 8th.

According to Zacks, analysts expect that Beigene will report full-year earnings of ($14.21) per share for the current fiscal year, with EPS estimates ranging from ($16.01) to ($11.47). For the next financial year, analysts expect that the firm will post earnings of ($14.10) per share, with EPS estimates ranging from ($16.35) to ($10.59). Zacks’ earnings per share calculations are a mean average based on a survey of analysts that that provide coverage for Beigene.

Beigene (NASDAQ:BGNE) last posted its quarterly earnings results on Wednesday, February 27th. The company reported ($4.52) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.87) by ($1.65). The company had revenue of $58.67 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 222.8% on a year-over-year basis. During the same period in the prior year, the business earned ($2.19) EPS.

BGNE has been the topic of several recent analyst reports. Maxim Group reaffirmed a “buy” rating and issued a $170.00 price target on shares of Beigene in a research note on Thursday, January 3rd. Zacks Investment Research downgraded shares of Beigene from a “buy” rating to a “hold” rating in a research report on Thursday, January 3rd. BidaskClub downgraded shares of Beigene from a “buy” rating to a “hold” rating in a research report on Saturday, January 5th. ValuEngine downgraded shares of Beigene from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 15th. Finally, Piper Jaffray Companies cut their target price on shares of Beigene to $170.00 and set an “overweight” rating on the stock in a research report on Thursday, February 28th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Beigene presently has a consensus rating of “Buy” and a consensus price target of $177.68.

In other news, CEO John Oyler sold 4,588 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $152.01, for a total value of $697,421.88. Following the sale, the chief executive officer now directly owns 17,298,245 shares in the company, valued at approximately $2,629,506,222.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Xiaodong Wang sold 5,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were 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. Insiders have sold a total of 66,897 shares of company stock worth $9,709,044 in the last three months. Insiders own 13.30% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Jennison Associates LLC boosted its holdings in shares of Beigene by 1.9% in the 4th quarter. Jennison Associates LLC now owns 4,513 shares of the company’s stock valued at $633,000 after buying an additional 86 shares in the last quarter. Neuburgh Advisers LLC bought a new stake in shares of Beigene in the 4th quarter valued at about $27,000. Cornerstone Advisors Inc. bought a new stake in shares of Beigene in the 4th quarter valued at about $30,000. Advisor Group Inc. boosted its holdings in shares of Beigene by 301.4% in the 4th quarter. Advisor Group Inc. now owns 285 shares of the company’s stock valued at $40,000 after buying an additional 214 shares in the last quarter. Finally, Krane Funds Advisors LLC bought a new stake in shares of Beigene in the 3rd quarter valued at about $40,000. Institutional investors and hedge funds own 79.85% of the company’s stock.

BGNE stock traded down $1.23 during trading on Friday, hitting $119.80. The company had a trading volume of 576,449 shares, compared to its average volume of 356,096. The company has a market capitalization of $7.15 billion, a PE ratio of -9.86 and a beta of 1.18. Beigene has a 52-week low of $105.19 and a 52-week high of $220.10. The company has a debt-to-equity ratio of 0.11, a current ratio of 7.89 and a quick ratio of 7.82.

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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