BeiGene (NASDAQ:BGNE) Price Target Raised to $254.00

BeiGene (NASDAQ:BGNE) had its price target hoisted by research analysts at TD Cowen from $236.00 to $254.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s target price would indicate a potential upside of 51.10% from the stock’s previous close.

A number of other research analysts have also recently weighed in on BGNE. 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. Guggenheim decreased their price objective on shares of BeiGene from $350.00 to $345.00 and set a “buy” rating on the stock in a research report on Tuesday, February 27th. Bank of America lowered their price objective on BeiGene from $179.30 to $164.30 and set a “neutral” rating on the stock in a research report on Monday, April 8th. Finally, JPMorgan Chase & Co. increased their target price on BeiGene from $184.00 to $186.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, BeiGene presently has a consensus rating of “Moderate Buy” and a consensus target price of $251.93.

BeiGene Stock Performance

NASDAQ:BGNE traded up $3.66 on Thursday, hitting $168.10. The stock had a trading volume of 76,064 shares, compared to its average volume of 250,576. The business’s 50-day simple moving average is $154.92 and its two-hundred day simple moving average is $166.53. The stock has a market cap of $16.08 billion, a price-to-earnings ratio of -19.72 and a beta of 0.63. BeiGene has a 52-week low of $126.97 and a 52-week high of $246.82. The company has a quick ratio of 2.09, a current ratio of 2.32 and a debt-to-equity ratio of 0.06.

BeiGene (NASDAQ:BGNE) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($2.41) earnings per share for the quarter, topping the consensus estimate of ($3.07) by $0.66. BeiGene had a negative net margin of 35.86% and a negative return on equity of 23.12%. The business had revenue of $751.70 million for the quarter, compared to the consensus estimate of $670.09 million. During the same period last year, the firm earned ($3.34) earnings per share. The company’s quarterly revenue was up 67.9% on a year-over-year basis. As a group, research analysts predict that BeiGene will post -8.9 earnings per share for the current year.

Insider Buying and Selling at BeiGene

In other news, CFO Julia Aijun Wang sold 397 shares of BeiGene stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $167.08, for a total value of $66,330.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO John Oyler sold 26,716 shares of the stock in a transaction that occurred on Wednesday, April 10th. The stock was 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 in the company, valued at $1,799,186.76. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Julia Aijun Wang sold 397 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $167.08, for a total value of $66,330.76. The disclosure for this sale can be found here. Insiders sold 64,781 shares of company stock worth $10,222,381 over the last 90 days. 7.40% of the stock is owned by insiders.

Institutional Trading of BeiGene

Several institutional investors and hedge funds have recently made changes to their positions in BGNE. Wellington Management Group LLP grew its stake in BeiGene by 57.4% in the third quarter. Wellington Management Group LLP now owns 55,478 shares of the company’s stock worth $9,979,000 after purchasing an additional 20,239 shares in the last quarter. abrdn plc increased its stake in shares of BeiGene by 1,346.8% during the fourth quarter. abrdn plc now owns 21,138 shares of the company’s stock valued at $3,812,000 after buying an additional 19,677 shares during the period. XY Capital Ltd raised its holdings in shares of BeiGene by 1,205.3% in the third quarter. XY Capital Ltd now owns 15,416 shares of the company’s stock valued at $2,773,000 after acquiring an additional 14,235 shares in the last quarter. FMR LLC lifted its stake in BeiGene by 3.0% in the third quarter. FMR LLC now owns 2,352,730 shares of the company’s stock worth $423,186,000 after acquiring an additional 69,297 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in BeiGene by 53.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 46,682 shares of the company’s stock worth $8,397,000 after acquiring an additional 16,295 shares in the last quarter. 48.55% of the stock is currently owned by institutional investors.

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.