FY2024 EPS Estimates for BeiGene Reduced by Leerink Partnrs

BeiGene, Ltd. (NASDAQ:BGNE - Free Report) - Investment analysts at Leerink Partnrs decreased their FY2024 earnings per share estimates for BeiGene in a research report issued on Tuesday, November 12th. Leerink Partnrs analyst A. Berens now expects that the company will post earnings per share of ($5.98) for the year, down from their prior estimate of ($5.69). The consensus estimate for BeiGene's current full-year earnings is ($5.00) per share. Leerink Partnrs also issued estimates for BeiGene's Q4 2024 earnings at ($1.30) EPS.

BeiGene (NASDAQ:BGNE - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($1.15) EPS for the quarter, missing analysts' consensus estimates of ($1.11) by ($0.04). The business had revenue of $1 billion for 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%. BeiGene's revenue for the quarter was up 28.2% on a year-over-year basis. During the same period last year, the business posted $2.01 earnings per share.

BGNE has been the topic of a number of other reports. StockNews.com raised BeiGene from a "hold" rating to a "buy" rating in a report on Wednesday. Citigroup lifted their target price on BeiGene from $269.00 to $288.00 and gave the stock a "buy" rating in a report on Thursday, August 8th. JPMorgan Chase & Co. lifted their target price on BeiGene from $200.00 to $235.00 and gave the stock an "overweight" rating in a report on Tuesday, October 22nd. JMP Securities began coverage on BeiGene in a research note on Wednesday, September 18th. They issued a "market outperform" rating and a $288.00 price target on the stock. Finally, TD Cowen lifted their price target on BeiGene from $254.00 to $260.00 and gave the stock a "buy" rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $247.07.

BeiGene Price Performance

NASDAQ:BGNE traded down $4.06 during mid-day trading on Friday, reaching $189.23. 230,798 shares of the stock were exchanged, compared to its average volume of 264,916. The business has a fifty day moving average price of $212.95 and a 200 day moving average price of $181.80. The firm has a market capitalization of $18.43 billion, a PE ratio of -22.96 and a beta of 0.63. BeiGene has a 1-year low of $126.97 and a 1-year high of $248.16. The company has a current ratio of 1.93, a quick ratio of 1.75 and a debt-to-equity ratio of 0.05.

Insiders Place Their Bets

In other BeiGene news, insider Titus B. Ball sold 137 shares of the firm's stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $189.94, for a total transaction of $26,021.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Chan Henry Lee sold 1,202 shares of the firm's stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $237.10, for a total value of $284,994.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,070 shares of company stock worth $4,901,050. 7.43% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BeiGene

Institutional investors have recently made changes to their positions in the company. Driehaus Capital Management LLC acquired a new stake in shares of BeiGene during the 2nd quarter valued at about $1,168,000. Swedbank AB acquired a new stake in shares of BeiGene during the 1st quarter valued at about $2,596,000. M&G Plc acquired a new stake in shares of BeiGene during the 1st quarter valued at about $29,649,000. The Manufacturers Life Insurance Company lifted its holdings in shares of BeiGene by 8.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 50,262 shares of the company's stock valued at $7,171,000 after buying an additional 3,915 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of BeiGene by 8.9% in the 2nd quarter. Van ECK Associates Corp now owns 95,577 shares of the company's stock valued at $13,636,000 after acquiring an additional 7,816 shares in the last quarter. 48.55% of the stock is currently owned by institutional investors and hedge funds.

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.