BeiGene (NASDAQ:BGNE) Price Target Raised to $260.00 at TD Cowen

BeiGene (NASDAQ:BGNE) had its price objective lifted by TD Cowen from $254.00 to $260.00 in a report released on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts also recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of BeiGene from $200.00 to $235.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Citigroup upped their price target on shares of BeiGene from $269.00 to $288.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Finally, JMP Securities began coverage on shares of BeiGene in a research report on Wednesday, September 18th. They issued a “market outperform” rating and a $288.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $247.07.

BeiGene Stock Down 2.1 %

Shares of NASDAQ:BGNE opened at $189.23 on Wednesday. The company has a market capitalization of $18.43 billion, a PE ratio of -22.96 and a beta of 0.63. The company has a current ratio of 1.93, a quick ratio of 1.75 and a debt-to-equity ratio of 0.05. BeiGene has a twelve month low of $126.97 and a twelve month high of $248.16. The firm has a 50 day simple moving average of $212.95 and a 200-day simple moving average of $181.80.

BeiGene (NASDAQ:BGNE) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($1.15) EPS for the quarter, missing the consensus estimate of ($1.11) by ($0.04). BeiGene had a negative net margin of 25.94% and a negative return on equity of 25.12%. The business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $983.26 million. During the same quarter last year, the company earned $2.01 EPS. The firm’s revenue for the quarter was up 28.2% compared to the same quarter last year. On average, equities analysts predict that BeiGene will post -5 EPS for the current fiscal year.

Insider Buying and Selling at BeiGene

In other news, insider Titus B. Ball sold 137 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $189.94, for a total transaction of $26,021.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO John Oyler sold 6,175 shares of the company’s stock in a transaction on Tuesday, October 8th. The stock was 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. In the last three months, insiders have sold 23,070 shares of company stock valued at $4,901,050. 7.43% of the stock is owned by company insiders.

Hedge Funds Weigh In On BeiGene

A number of institutional investors and hedge funds have recently made changes to their positions in BGNE. Janney Montgomery Scott LLC grew its stake in shares of BeiGene by 63.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 2,280 shares of the company’s stock worth $357,000 after purchasing an additional 887 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new stake in BeiGene in the 1st quarter valued at about $209,000. Headlands Technologies LLC acquired a new stake in BeiGene in the 1st quarter valued at about $50,000. ProShare Advisors LLC grew its stake in BeiGene by 8.1% in the 1st quarter. ProShare Advisors LLC now owns 2,902 shares of the company’s stock valued at $454,000 after acquiring an additional 217 shares during the last quarter. Finally, Bleakley Financial Group LLC grew its stake in BeiGene by 52.2% in the 1st quarter. Bleakley Financial Group LLC now owns 5,661 shares of the company’s stock valued at $885,000 after acquiring an additional 1,942 shares during the last quarter. 48.55% of the stock is 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.