BeiGene (NASDAQ:BGNE) Hits New 1-Year High – What’s Next?

BeiGene, Ltd. (NASDAQ:BGNE)’s stock price reached a new 52-week high on Friday . The company traded as high as $248.16 and last traded at $245.99, with a volume of 31298 shares changing hands. The stock had previously closed at $233.64.

Analyst Ratings Changes

Several research analysts recently commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of BeiGene from $194.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Citigroup increased their price objective on BeiGene from $269.00 to $288.00 and gave the company a “buy” rating in a report on Thursday, August 8th. JMP Securities initiated coverage on BeiGene in a research note on Wednesday, September 18th. They set a “market outperform” rating and a $288.00 target price on the stock. Finally, Bank of America decreased their price target on BeiGene from $180.00 to $152.50 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, BeiGene presently has a consensus rating of “Moderate Buy” and an average price target of $241.21.

BeiGene Stock Performance

The stock has a market capitalization of $23.84 billion, a price-to-earnings ratio of -32.50 and a beta of 0.62. 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 firm has a 50-day moving average of $195.21 and a 200-day moving average of $168.37.

BeiGene (NASDAQ:BGNE) 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 return on equity of 14.93% and a negative net margin of 16.91%. The business had revenue of $929.20 million for the quarter, compared to analyst estimates of $810.34 million. During the same period in the prior year, the company earned ($3.64) earnings per share. The company’s revenue was up 56.1% on a year-over-year basis. As a group, sell-side analysts predict that BeiGene, Ltd. will post -5.13 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Chan Henry Lee sold 1,202 shares of the company’s 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 filing with the SEC, which can be accessed through the SEC website. In other news, SVP Chan Henry Lee sold 1,202 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $237.10, for a total value of $284,994.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lai Wang sold 5,000 shares of the company’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $220.35, for a total value of $1,101,750.00. Following the completion of the sale, the insider now owns 920,920 shares in the company, valued at $202,924,722. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,729 shares of company stock valued at $3,601,007. 7.43% of the stock is owned by insiders.

Institutional Investors Weigh In On BeiGene

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Headlands Technologies LLC acquired a new stake in shares of BeiGene during the 1st quarter valued at about $50,000. SG Americas Securities LLC acquired a new stake in BeiGene in the third quarter valued at approximately $105,000. Benjamin F. Edwards & Company Inc. increased its position in shares of BeiGene by 51.5% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 821 shares of the company’s stock valued at $128,000 after buying an additional 279 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of BeiGene by 204.1% during the 1st quarter. Acadian Asset Management LLC now owns 1,265 shares of the company’s stock worth $197,000 after buying an additional 849 shares during the period. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in shares of BeiGene during the 1st quarter worth approximately $209,000. Institutional investors and hedge funds own 48.55% of the company’s stock.

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.