Beigene (NASDAQ:BGNE) Cut to “Neutral” at UBS Group

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UBS Group cut shares of Beigene (NASDAQ:BGNE) from a buy rating to a neutral rating in a research report report published on Tuesday morning, Briefing.com Automated Import reports.

A number of other equities research analysts have also recently commented on the company. Morgan Stanley dropped their target price on Beigene from $201.00 to $200.00 and set an overweight rating on the stock in a research report on Friday, October 11th. BidaskClub upgraded Beigene from a hold rating to a buy rating in a research report on Tuesday, October 22nd. Bank of America restated a buy rating and set a $230.00 target price on shares of Beigene in a research report on Monday. Cowen raised their target price on Beigene from $170.00 to $225.00 and gave the company an outperform rating in a research report on Wednesday, November 13th. Finally, ValuEngine cut Beigene from a strong-buy rating to a buy rating in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $208.00.

Shares of NASDAQ:BGNE traded down $0.10 during trading on Tuesday, reaching $208.24. 6,379 shares of the company’s stock traded hands, compared to its average volume of 492,108. Beigene has a fifty-two week low of $108.00 and a fifty-two week high of $208.98. The company has a quick ratio of 5.26, a current ratio of 5.40 and a debt-to-equity ratio of 0.20. The firm has a market cap of $9.68 billion, a PE ratio of -17.06 and a beta of 1.00. The company has a 50-day simple moving average of $155.52 and a 200-day simple moving average of $135.99.

Beigene (NASDAQ:BGNE) last posted its earnings results on Tuesday, November 12th. The company reported ($5.11) EPS for the quarter, missing the Zacks’ consensus estimate of ($3.56) by ($1.55). Beigene had a negative net margin of 192.75% and a negative return on equity of 53.11%. The business had revenue of $50.14 million for the quarter, compared to analyst estimates of $65.43 million. During the same quarter last year, the business earned ($2.53) earnings per share. Beigene’s revenue was down 7.5% on a year-over-year basis. On average, equities research analysts forecast that Beigene will post -12.85 EPS for the current year.

In related news, CMO Jane Huang sold 32,900 shares of Beigene stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $190.46, for a total value of $6,266,134.00. Following the sale, the chief marketing officer now directly owns 291,667 shares in the company, valued at approximately $55,550,896.82. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Xiaodong Wang sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $170.00, for a total transaction of $170,000.00. Following the completion of the transaction, the insider now directly owns 7,585,628 shares in the company, valued at $1,289,556,760. The disclosure for this sale can be found here. Over the last quarter, insiders sold 76,566 shares of company stock worth $14,552,463. 13.40% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ladenburg Thalmann Financial Services Inc. lifted its stake in Beigene by 24.8% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 443 shares of the company’s stock worth $55,000 after purchasing an additional 88 shares in the last quarter. Riverhead Capital Management LLC lifted its stake in Beigene by 28.6% in the 2nd quarter. Riverhead Capital Management LLC now owns 450 shares of the company’s stock worth $56,000 after purchasing an additional 100 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in Beigene by 5.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 2,157 shares of the company’s stock worth $264,000 after purchasing an additional 110 shares in the last quarter. CIBC Asset Management Inc lifted its stake in Beigene by 5.5% in the 3rd quarter. CIBC Asset Management Inc now owns 2,235 shares of the company’s stock worth $274,000 after purchasing an additional 116 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Beigene by 8.0% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 2,093 shares of the company’s stock worth $256,000 after purchasing an additional 155 shares in the last quarter.

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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