BeiGene (NASDAQ:BGNE) Shares Gap Down - Time to Sell?

BeiGene, Ltd. (NASDAQ:BGNE - Get Free Report) shares gapped down before the market opened on Friday . The stock had previously closed at $193.29, but opened at $187.79. BeiGene shares last traded at $187.03, with a volume of 31,286 shares traded.

Analyst Ratings Changes

A number of brokerages have commented on BGNE. Citigroup increased their target price on BeiGene from $269.00 to $288.00 and gave the company a "buy" rating in a report on Thursday, August 8th. StockNews.com upgraded BeiGene from a "hold" rating to a "buy" rating in a research report on Wednesday. JMP Securities began coverage on shares of BeiGene in a report on Wednesday, September 18th. They issued a "market outperform" rating and a $288.00 target price on the stock. JPMorgan Chase & Co. lifted their price target on shares of BeiGene from $200.00 to $235.00 and gave the stock an "overweight" rating in a report on Tuesday, October 22nd. Finally, TD Cowen upped their price objective on shares of BeiGene from $254.00 to $260.00 and gave the company a "buy" rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $247.07.

BeiGene Stock Performance

The company's fifty day moving average price is $212.95 and its two-hundred day moving average price is $181.80. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.75 and a current ratio of 1.93. The firm has a market capitalization of $18.43 billion, a PE ratio of -22.96 and a beta of 0.63.

BeiGene (NASDAQ:BGNE - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share for the quarter, missing analysts' consensus estimates of ($1.11) by ($0.04). The company had revenue of $1 billion during the quarter, compared to analyst estimates of $983.26 million. BeiGene had a negative net margin of 25.94% and a negative return on equity of 25.12%. The firm's revenue for the quarter was up 28.2% compared to the same quarter last year. During the same quarter last year, the business earned $2.01 EPS. As a group, equities analysts expect that BeiGene, Ltd. will post -5 earnings per share for the current year.

Insider Activity at BeiGene

In other BeiGene news, COO Xiaobin Wu sold 5,556 shares of BeiGene stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $189.65, for a total transaction of $1,053,695.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Chan Henry Lee sold 1,202 shares of the business's stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $237.10, for a total transaction of $284,994.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,070 shares of company stock worth $4,901,050. 7.43% of the stock is owned by insiders.

Institutional Trading of BeiGene

Several large investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. grew its stake in shares of BeiGene by 156.3% in the third quarter. Blue Trust Inc. now owns 123 shares of the company's stock valued at $28,000 after buying an additional 75 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in BeiGene in the third quarter valued at approximately $36,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in BeiGene in the third quarter valued at approximately $67,000. Headlands Technologies LLC purchased a new stake in shares of BeiGene during the first quarter valued at approximately $50,000. Finally, SG Americas Securities LLC acquired a new position in shares of BeiGene during the third quarter worth $105,000. 48.55% of the stock is currently owned by institutional investors and hedge funds.

BeiGene Company Profile

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.