BeiGene (NASDAQ:BGNE) Shares Gap Up – Still a Buy?

BeiGene, Ltd. (NASDAQ:BGNE)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $192.11, but opened at $201.31. BeiGene shares last traded at $204.37, with a volume of 24,026 shares trading hands.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BGNE. JPMorgan Chase & Co. upped their price target on shares of BeiGene from $200.00 to $235.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. JMP Securities assumed coverage on BeiGene in a research report on Wednesday, September 18th. They issued a “market outperform” rating and a $288.00 target price for the company. Citigroup boosted their price target on BeiGene from $269.00 to $288.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. StockNews.com downgraded BeiGene from a “buy” rating to a “hold” rating in a research note on Thursday, November 21st. Finally, TD Cowen boosted their target price on shares of BeiGene from $254.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $247.07.

BeiGene Price Performance

The company has a current ratio of 1.93, a quick ratio of 1.72 and a debt-to-equity ratio of 0.05. The business’s 50-day simple moving average is $212.16 and its two-hundred day simple moving average is $184.09. The firm has a market cap of $20.08 billion, a price-to-earnings ratio of -25.02 and a beta of 0.63.

BeiGene (NASDAQ:BGNE) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($1.15) earnings per share for the quarter, missing the consensus estimate of ($1.11) by ($0.04). The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $983.26 million. BeiGene had a negative return on equity of 25.12% and a negative net margin of 25.94%. The company’s quarterly revenue was up 28.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.01 earnings per share. As a group, research analysts expect that BeiGene, Ltd. will post -5.38 EPS for the current fiscal year.

Insider Transactions at BeiGene

In other news, SVP Chan Henry Lee sold 1,202 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $237.10, for a total transaction of $284,994.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Titus B. Ball sold 137 shares of the business’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 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. Corporate insiders own 7.43% of the company’s stock.

Institutional Trading of BeiGene

Several large investors have recently made changes to their positions in BGNE. Blue Trust Inc. boosted its holdings in BeiGene by 156.3% in the third quarter. Blue Trust Inc. now owns 123 shares of the company’s stock worth $28,000 after acquiring an additional 75 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of BeiGene in the 3rd quarter worth $36,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of BeiGene in the 3rd quarter worth $67,000. SG Americas Securities LLC acquired a new stake in BeiGene in the 3rd quarter valued at $105,000. Finally, PFG Investments LLC bought a new stake in BeiGene during the 3rd quarter valued at $210,000. 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.