Leerink Partnrs Brokers Boost Earnings Estimates for BeiGene

BeiGene, Ltd. (NASDAQ:BGNE) – Analysts at Leerink Partnrs increased their Q3 2024 EPS estimates for BeiGene in a research note issued to investors on Monday, October 28th. Leerink Partnrs analyst A. Berens now expects that the company will post earnings of ($1.12) per share for the quarter, up from their previous forecast of ($1.23). The consensus estimate for BeiGene’s current full-year earnings is ($5.07) per share. Leerink Partnrs also issued estimates for BeiGene’s Q4 2024 earnings at ($1.02) EPS, FY2024 earnings at ($5.69) EPS, FY2025 earnings at $0.79 EPS, FY2026 earnings at $8.34 EPS and FY2027 earnings at $13.86 EPS.

Other equities analysts also recently issued research reports about the company. Citigroup increased their price target on BeiGene from $269.00 to $288.00 and gave the company a “buy” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. raised their target price on shares of BeiGene from $200.00 to $235.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. JMP Securities initiated coverage on shares of BeiGene in a research report on Wednesday, September 18th. They set a “market outperform” rating and a $288.00 target price for the company. Finally, Bank of America lowered their price target on BeiGene from $180.00 to $152.50 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, BeiGene currently has an average rating of “Moderate Buy” and an average target price of $246.21.

BeiGene Stock Down 1.6 %

Shares of BGNE stock opened at $202.64 on Wednesday. The stock’s 50 day simple moving average is $211.25 and its 200 day simple moving average is $177.18. BeiGene has a twelve month low of $126.97 and a twelve month high of $248.16. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.98. The company has a market capitalization of $19.64 billion, a price-to-earnings ratio of -26.77 and a beta of 0.62.

BeiGene (NASDAQ:BGNE) last posted its earnings results on Wednesday, August 7th. The company reported ($1.15) earnings per share for the quarter, beating the consensus estimate of ($2.27) by $1.12. The company had revenue of $929.20 million for the quarter, compared to analyst estimates of $810.34 million. BeiGene had a negative return on equity of 14.93% and a negative net margin of 16.91%. The business’s revenue was up 56.1% compared to the same quarter last year. During the same period last year, the company earned ($3.64) earnings per share.

Institutional Trading of BeiGene

Several institutional investors have recently made changes to their positions in the business. Driehaus Capital Management LLC acquired a new position in BeiGene in the second quarter worth about $1,168,000. Swedbank AB acquired a new position in shares of BeiGene in the 1st quarter worth approximately $2,596,000. AIA Group Ltd lifted its position in shares of BeiGene by 38.9% during the 1st quarter. AIA Group Ltd now owns 18,497 shares of the company’s stock worth $2,893,000 after buying an additional 5,181 shares during the period. M&G Plc acquired a new stake in BeiGene in the 1st quarter valued at $29,649,000. Finally, The Manufacturers Life Insurance Company grew its position in BeiGene by 8.4% in the second quarter. The Manufacturers Life Insurance Company now owns 50,262 shares of the company’s stock valued at $7,171,000 after acquiring an additional 3,915 shares during the period. 48.55% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, COO Xiaobin Wu sold 5,556 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $189.65, for a total transaction of $1,053,695.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, COO Xiaobin Wu sold 5,556 shares of the business’s 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 legal filing with the SEC, which can be accessed through this link. Also, 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 value of $26,021.78. The disclosure for this sale can be found here. Insiders have sold 23,070 shares of company stock worth $4,901,050 in the last ninety days. Insiders own 7.43% of the company’s stock.

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.