BeiGene (NASDAQ:BGNE) Posts Quarterly Earnings Results, Misses Estimates By $0.04 EPS

BeiGene (NASDAQ:BGNE) announced its quarterly earnings data on Tuesday. The company reported ($1.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.04), Briefing.com reports. The business had revenue of $1 billion during the quarter, compared to analyst estimates of $983.26 million. BeiGene had a negative net margin of 16.91% and a negative return on equity of 14.93%. The company’s revenue for the quarter was up 28.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.01 EPS.

BeiGene Stock Up 2.5 %

Shares of NASDAQ:BGNE traded up $4.78 on Wednesday, hitting $198.42. 29,130 shares of the company’s stock were exchanged, compared to its average volume of 263,962. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.98. BeiGene has a 1-year low of $126.97 and a 1-year high of $248.16. The company has a market capitalization of $19.33 billion, a PE ratio of -39.40 and a beta of 0.63. The firm’s 50-day moving average is $212.67 and its 200 day moving average is $181.34.

Insider Buying and Selling

In other news, CEO John Oyler sold 6,175 shares of the company’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 is available at this hyperlink. In other BeiGene news, COO Xiaobin Wu sold 5,556 shares of BeiGene stock in a transaction that occurred 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 document filed with the SEC, which is available at the SEC website. Also, CEO John Oyler sold 6,175 shares of the business’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders sold a total of 23,070 shares of company stock worth $4,901,050 over the last 90 days. 7.43% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on BGNE. Citigroup boosted 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. JMP Securities began coverage on BeiGene in a report on Wednesday, September 18th. They set a “market outperform” rating and a $288.00 price target on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on BeiGene from $200.00 to $235.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $246.21.

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.