FY2024 EPS Estimates for BeiGene Cut by Leerink Partnrs

BeiGene, Ltd. (NASDAQ:BGNE) – Analysts at Leerink Partnrs reduced their FY2024 earnings estimates for shares of BeiGene in a research report issued to clients and investors on Tuesday, November 12th. Leerink Partnrs analyst A. Berens now anticipates that the company will post earnings of ($5.98) per share for the year, down from their previous estimate of ($5.69). The consensus estimate for BeiGene’s current full-year earnings is ($5.00) per share. Leerink Partnrs also issued estimates for BeiGene’s Q4 2024 earnings at ($1.30) EPS.

A number of other research firms have also issued reports on BGNE. StockNews.com upgraded shares of BeiGene from a “hold” rating to a “buy” rating in a report on Wednesday. JMP Securities began coverage on BeiGene in a report on Wednesday, September 18th. They issued a “market outperform” rating and a $288.00 target price for the company. TD Cowen boosted their target price on BeiGene from $254.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday. Citigroup increased their price target on BeiGene from $269.00 to $288.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. boosted their price objective on BeiGene from $200.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, BeiGene currently has an average rating of “Moderate Buy” and an average price target of $247.07.

BeiGene Stock Down 2.1 %

Shares of BGNE opened at $189.23 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.75 and a current ratio of 1.93. The stock has a market capitalization of $18.43 billion, a PE ratio of -22.96 and a beta of 0.63. The company’s 50-day simple moving average is $212.91 and its 200-day simple moving average is $182.03. BeiGene has a 1 year low of $126.97 and a 1 year high of $248.16.

BeiGene (NASDAQ:BGNE) last issued its quarterly earnings data 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 return on equity of 25.12% and a negative net margin of 25.94%. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $983.26 million. During the same quarter in the prior year, the company posted $2.01 earnings per share. The business’s revenue was up 28.2% compared to the same quarter last year.

Insider Transactions at BeiGene

In related news, SVP Chan Henry Lee sold 1,202 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $237.10, for a total transaction of $284,994.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John Oyler sold 6,175 shares of the stock in a transaction that occurred on Tuesday, October 8th. The shares were 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 ninety days, insiders sold 23,070 shares of company stock valued at $4,901,050. 7.43% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BeiGene

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. grew its holdings 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 purchasing an additional 75 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in BeiGene during the 3rd quarter worth approximately $36,000. Headlands Technologies LLC acquired a new position in BeiGene during the first quarter worth approximately $50,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in BeiGene during the third quarter worth approximately $67,000. Finally, SG Americas Securities LLC purchased a new stake in BeiGene in the third quarter valued at approximately $105,000. 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.