Q3 Earnings Estimate for BeiGene Issued By Leerink Partnrs

BeiGene, Ltd. (NASDAQ:BGNE - Free Report) - Analysts at Leerink Partnrs lifted their Q3 2024 EPS estimates for shares of BeiGene in a report released on Monday, October 28th. Leerink Partnrs analyst A. Berens now expects that the company will post earnings per share of ($1.12) for the quarter, up from their prior estimate of ($1.23). The consensus estimate for BeiGene's current full-year earnings is ($5.07) per share. Leerink Partnrs also issued estimates for BeiGene's Q4 2024 earnings at ($1.02) EPS, FY2024 earnings at ($5.69) EPS, FY2025 earnings at $0.79 EPS, FY2026 earnings at $8.34 EPS and FY2027 earnings at $13.86 EPS.

Several other equities research analysts have also commented on the stock. Citigroup lifted their price target on shares of BeiGene from $269.00 to $288.00 and gave the stock a "buy" rating in a research note on Thursday, August 8th. 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 research note on Tuesday, October 22nd. Bank of America cut their price target on shares of BeiGene from $180.00 to $152.50 and set a "neutral" rating on the stock in a research note on Tuesday, July 9th. Finally, JMP Securities initiated coverage on shares of BeiGene in a research note on Wednesday, September 18th. They set a "market outperform" rating and a $288.00 price target on the stock. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $246.21.

BeiGene Stock Down 4.9 %

Shares of BGNE traded down $10.54 during midday trading on Wednesday, reaching $205.99. The stock had a trading volume of 898,432 shares, compared to its average volume of 263,286. The company's fifty day simple moving average is $211.09 and its two-hundred day simple moving average is $176.98. BeiGene has a 1-year low of $126.97 and a 1-year high of $248.16. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.98 and a quick ratio of 1.75. The company has a market cap of $19.96 billion, a price-to-earnings ratio of -27.39 and a beta of 0.62.

BeiGene (NASDAQ:BGNE - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($1.15) earnings per share for the quarter, beating analysts' consensus estimates of ($2.27) by $1.12. BeiGene had a negative net margin of 16.91% and a negative return on equity of 14.93%. The business had revenue of $929.20 million for the quarter, compared to analyst estimates of $810.34 million. During the same period last year, the business earned ($3.64) EPS. The company's revenue was up 56.1% on a year-over-year basis.

Insider Buying and Selling at BeiGene

In other BeiGene news, SVP Chan Henry Lee sold 1,202 shares of BeiGene stock in a transaction on Monday, September 30th. The shares were sold at an average price of $237.10, for a total value of $284,994.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, SVP Chan Henry Lee sold 1,202 shares of BeiGene stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $237.10, for a total value of $284,994.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO John Oyler sold 6,175 shares of BeiGene stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $232.22, for a total transaction of $1,433,958.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,070 shares of company stock worth $4,901,050. 7.43% of the stock is owned by company insiders.

Institutional Trading of BeiGene

Several hedge funds and other institutional investors have recently made changes to their positions in BGNE. Asset Management One Co. Ltd. boosted its holdings in BeiGene by 14.5% during the third quarter. Asset Management One Co. Ltd. now owns 20,453 shares of the company's stock worth $4,592,000 after buying an additional 2,593 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in BeiGene by 69.4% during the third quarter. China Universal Asset Management Co. Ltd. now owns 8,510 shares of the company's stock worth $1,911,000 after buying an additional 3,486 shares in the last quarter. PFG Investments LLC purchased a new stake in BeiGene during the third quarter worth about $210,000. Allspring Global Investments Holdings LLC purchased a new stake in BeiGene during the third quarter worth about $36,000. Finally, Blue Trust Inc. boosted its holdings in BeiGene by 156.3% during the third quarter. Blue Trust Inc. now owns 123 shares of the company's stock worth $28,000 after buying an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 48.55% of the company's stock.

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.