StockNews.com Downgrades BeiGene (NASDAQ:BGNE) to Hold

StockNews.com cut shares of BeiGene (NASDAQ:BGNE - Free Report) from a buy rating to a hold rating in a research note released on Thursday.

BGNE has been the topic of a number of other reports. Citigroup raised their target price 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. TD Cowen lifted their target price on shares of BeiGene from $254.00 to $260.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. JMP Securities started coverage on shares of BeiGene in a report on Wednesday, September 18th. They issued a "market outperform" rating and a $288.00 target price for the company. Finally, JPMorgan Chase & Co. boosted 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. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, BeiGene presently has an average rating of "Moderate Buy" and a consensus price target of $247.07.

BeiGene Stock Up 3.5 %

BeiGene stock opened at $194.26 on Thursday. The business has a fifty day moving average of $212.60 and a two-hundred day moving average of $182.77. The company has a quick ratio of 1.72, a current ratio of 1.93 and a debt-to-equity ratio of 0.05. The firm has a market cap of $18.92 billion, a P/E ratio of -23.58 and a beta of 0.63. BeiGene has a twelve month low of $126.97 and a twelve month high of $248.16.

BeiGene (NASDAQ:BGNE - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.11) by ($0.04). The firm 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%. BeiGene's revenue was up 28.2% on a year-over-year basis. During the same period in the previous year, the company earned $2.01 earnings per share. On average, analysts forecast that BeiGene will post -5.57 earnings per share for the current fiscal year.

Insider Transactions at BeiGene

In related news, CEO John Oyler sold 6,175 shares of the business's stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $232.22, for a total value of $1,433,958.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Chan Henry Lee sold 1,202 shares of the company's stock in a transaction dated Monday, September 30th. The shares were 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. In the last three months, insiders sold 23,070 shares of company stock valued at $4,901,050. Insiders own 7.43% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Blue Trust Inc. increased its stake in shares of BeiGene by 156.3% during the third quarter. Blue Trust Inc. now owns 123 shares of the company's stock worth $28,000 after acquiring an additional 75 shares during the period. Raymond James & Associates lifted its holdings in shares of BeiGene by 0.4% in the second quarter. Raymond James & Associates now owns 21,275 shares of the company's stock valued at $3,035,000 after purchasing an additional 76 shares in the last quarter. Truist Financial Corp lifted its holdings in shares of BeiGene by 10.1% in the second quarter. Truist Financial Corp now owns 1,521 shares of the company's stock valued at $217,000 after purchasing an additional 140 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of BeiGene during the third quarter valued at approximately $36,000. Finally, ProShare Advisors LLC lifted its stake in shares of BeiGene by 8.1% during the first quarter. ProShare Advisors LLC now owns 2,902 shares of the company's stock valued at $454,000 after buying an additional 217 shares during the period. 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.