BeiGene (NASDAQ:BGNE) Shares Gap Up - Should You Buy?

Shares of BeiGene, Ltd. (NASDAQ:BGNE - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $212.39, but opened at $222.35. BeiGene shares last traded at $218.97, with a volume of 34,996 shares.

Analysts Set New Price Targets

BGNE has been the topic of several analyst reports. JMP Securities initiated coverage on shares of BeiGene in a report on Wednesday, September 18th. They issued a "market outperform" rating and a $288.00 price target on the stock. Bank of America dropped their price target on shares of BeiGene from $180.00 to $152.50 and set a "neutral" rating for the company in a research report on Tuesday, July 9th. JPMorgan Chase & Co. upped their price objective on BeiGene from $194.00 to $200.00 and gave the company an "overweight" rating in a research note on Tuesday, August 20th. Finally, Citigroup increased 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. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $241.21.

BeiGene Price Performance

The stock has a fifty day moving average of $206.64 and a two-hundred day moving average of $172.88. The company has a current ratio of 1.98, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $21.22 billion, a price-to-earnings ratio of -28.52 and a beta of 0.62.

BeiGene (NASDAQ:BGNE - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($1.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.27) by $1.12. The business had revenue of $929.20 million for the quarter, compared to the consensus estimate of $810.34 million. BeiGene had a negative net margin of 16.91% and a negative return on equity of 14.93%. The firm's quarterly revenue was up 56.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($3.64) EPS. As a group, equities research analysts forecast that BeiGene, Ltd. will post -5.07 earnings per share for the current year.

Insider Activity

In other news, COO Xiaobin Wu sold 5,556 shares of the business's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $189.65, for a total transaction of $1,053,695.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other BeiGene news, SVP Chan Henry Lee sold 834 shares of the company's stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $160.57, for a total transaction of $133,915.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Xiaobin Wu sold 5,556 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $189.65, for a total value of $1,053,695.40. The disclosure for this sale can be found here. Insiders have sold 23,904 shares of company stock valued at $5,034,965 over the last three months. 7.43% of the stock is owned by insiders.

Institutional Investors Weigh In On BeiGene

Several hedge funds have recently bought and sold shares of the company. Blue Trust Inc. grew its holdings in shares of BeiGene by 156.3% in the 3rd quarter. Blue Trust Inc. now owns 123 shares of the company's stock valued at $28,000 after buying an additional 75 shares during the period. Headlands Technologies LLC bought a new stake in shares of BeiGene in the first quarter worth about $50,000. SG Americas Securities LLC acquired a new stake in shares of BeiGene during the third quarter worth about $105,000. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of BeiGene by 51.5% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 821 shares of the company's stock valued at $128,000 after purchasing an additional 279 shares in the last quarter. Finally, Acadian Asset Management LLC grew its position in shares of BeiGene by 204.1% in the 1st quarter. Acadian Asset Management LLC now owns 1,265 shares of the company's stock valued at $197,000 after purchasing an additional 849 shares during the period. 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.