BeiGene (NASDAQ:BGNE) Price Target Raised to $190.00


Share on StockTwits

BeiGene (NASDAQ:BGNE) had its price objective boosted by research analysts at Piper Sandler from $185.00 to $190.00 in a research note issued to investors on Tuesday, The Fly reports. Piper Sandler’s price target would indicate a potential downside of 38.74% from the stock’s previous close.

Several other analysts also recently weighed in on BGNE. SVB Leerink boosted their price target on shares of BeiGene from $240.00 to $327.00 and gave the stock an “outperform” rating in a research note on Thursday, November 19th. BidaskClub downgraded shares of BeiGene from a “buy” rating to a “hold” rating in a research note on Tuesday, January 5th. Maxim Group downgraded shares of BeiGene from a “buy” rating to a “hold” rating in a research note on Friday, November 6th. ValuEngine raised shares of BeiGene from a “hold” rating to a “buy” rating in a research note on Tuesday, December 1st. Finally, Morgan Stanley upped their price objective on shares of BeiGene from $270.00 to $310.00 and gave the company an “overweight” rating in a research note on Wednesday, November 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $258.04.

BeiGene stock opened at $310.14 on Tuesday. The company has a quick ratio of 7.64, a current ratio of 7.69 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $28.20 billion, a PE ratio of -15.35 and a beta of 0.91. The firm has a fifty day simple moving average of $254.09 and a two-hundred day simple moving average of $254.76. BeiGene has a twelve month low of $118.55 and a twelve month high of $322.98.

BeiGene (NASDAQ:BGNE) last posted its quarterly earnings results on Thursday, November 5th. The company reported ($4.81) earnings per share for the quarter, missing the consensus estimate of ($4.12) by ($0.69). The business had revenue of $91.08 million during the quarter, compared to the consensus estimate of $78.50 million. BeiGene had a negative return on equity of 56.81% and a negative net margin of 569.22%. As a group, equities analysts expect that BeiGene will post -17.83 earnings per share for the current fiscal year.

In related news, Director Bros. Advisors Lp Baker sold 121,154 shares of the business’s stock in a transaction dated Monday, January 4th. The shares were sold at an average price of $220.50, for a total transaction of $26,714,457.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Xiaodong Wang sold 5,000 shares of the business’s stock in a transaction dated Friday, October 16th. The shares were sold at an average price of $320.00, for a total transaction of $1,600,000.00. Following the transaction, the insider now owns 7,201,009 shares in the company, valued at approximately $2,304,322,880. The disclosure for this sale can be found here. Insiders have sold 222,554 shares of company stock worth $50,588,748 in the last quarter. 9.00% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in BeiGene by 1.8% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 2,248 shares of the company’s stock worth $643,000 after purchasing an additional 39 shares during the period. Lindbrook Capital LLC grew its holdings in BeiGene by 21.2% in the third quarter. Lindbrook Capital LLC now owns 320 shares of the company’s stock worth $92,000 after purchasing an additional 56 shares during the period. Signaturefd LLC grew its holdings in shares of BeiGene by 92.6% during the third quarter. Signaturefd LLC now owns 131 shares of the company’s stock valued at $38,000 after buying an additional 63 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of BeiGene by 25.8% during the second quarter. PNC Financial Services Group Inc. now owns 444 shares of the company’s stock valued at $84,000 after buying an additional 91 shares during the last quarter. Finally, Crossmark Global Holdings Inc. lifted its position in BeiGene by 5.7% during the third quarter. Crossmark Global Holdings Inc. now owns 1,866 shares of the company’s stock valued at $534,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 60.65% of the company’s stock.

About BeiGene

BeiGene, Ltd., a commercial-stage biotechnology company, develops and commercializes molecularly-targeted and immuno-oncology cancer therapeutics in the People's Republic of China, the United States, and internationally. Its commercial products include BRUKINSA to treat R/R mantle cell lymphoma; Tislelizumab to treat R/R classical Hodgkin's lymphoma; ABRAXANE to treat breast cancer; REVLIMID to treat multiple myeloma; VIDAZA to treat myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia; XGEVA to treat giant cell tumor of bone; KYPROLIS to treat multiple myeloma; BLINCYTO to treat acute lymphocytic leukemia; SYLVANT to treat idiopathic multicentric castleman disease; and QARZIBA to treat neuroblastoma.

Further Reading: What is the price-to-earnings growth (PEG) ratio?

The Fly

Analyst Recommendations for BeiGene (NASDAQ:BGNE)

Receive News & Ratings for BeiGene Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BeiGene and related companies with MarketBeat.com's FREE daily email newsletter.