BeiGene (NASDAQ:BGNE) Announces Quarterly Earnings Results, Beats Expectations By $0.66 EPS

BeiGene (NASDAQ:BGNE) posted its quarterly earnings data on Wednesday. The company reported ($2.41) earnings per share for the quarter, topping the consensus estimate of ($3.07) by $0.66, Briefing.com reports. The business had revenue of $751.70 million during the quarter, compared to the consensus estimate of $670.09 million. BeiGene had a negative net margin of 35.86% and a negative return on equity of 23.12%. The company’s quarterly revenue was up 67.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($3.34) earnings per share.

BeiGene Stock Up 2.2 %

Shares of BGNE traded up $3.64 during trading hours on Thursday, reaching $168.08. The company’s stock had a trading volume of 76,644 shares, compared to its average volume of 250,576. The firm 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 1-year low of $126.97 and a 1-year 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. The company has a 50 day moving average of $154.92 and a two-hundred day moving average of $166.53.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. TD Cowen upped their price objective on shares of BeiGene from $236.00 to $254.00 and gave the stock a “buy” rating in a report on Thursday. Guggenheim cut 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. Bank of America cut 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. JPMorgan Chase & Co. upped their price target on shares of BeiGene from $184.00 to $186.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Finally, Sanford C. Bernstein cut their price target on shares of BeiGene from $196.00 to $161.00 and set a “market perform” rating for the company in a report on Wednesday, March 27th. Three 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, BeiGene presently has an average rating of “Moderate Buy” and a consensus price target of $251.93.

Insider Activity

In related 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 transaction, the chief executive officer now owns 12,084 shares in the company, valued at $1,799,186.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other BeiGene news, CEO John Oyler sold 26,716 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $148.89, for a total transaction of $3,977,745.24. Following the completion of the sale, the chief executive officer now owns 12,084 shares of the company’s stock, valued at $1,799,186.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Julia Aijun Wang sold 397 shares of the company’s 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 disclosure for this sale can be found here. Insiders have sold 64,781 shares of company stock worth $10,222,381 in the last 90 days. Company insiders own 7.40% of the company’s stock.

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.