BeiGene, Ltd. Forecasted to Post Q3 2017 Earnings of ($1.49) Per Share (BGNE)

BeiGene, Ltd. (NASDAQ:BGNE) – Stock analysts at William Blair reduced their Q3 2017 earnings per share (EPS) estimates for shares of BeiGene in a report issued on Monday. William Blair analyst Y. Xu now forecasts that the company will post earnings per share of ($1.49) for the quarter, down from their prior forecast of ($1.21). William Blair has a “Outperform” rating on the stock. William Blair also issued estimates for BeiGene’s Q1 2018 earnings at ($1.32) EPS, Q2 2018 earnings at ($1.39) EPS, Q3 2018 earnings at ($1.47) EPS, Q4 2018 earnings at ($0.42) EPS and FY2018 earnings at ($4.60) EPS.

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A number of other analysts have also recently weighed in on the stock. Zacks Investment Research upgraded shares of BeiGene from a “sell” rating to a “buy” rating and set a $79.00 price objective for the company in a research note on Tuesday, July 11th. Maxim Group upped their target price on shares of BeiGene from $57.00 to $73.00 and gave the company a “buy” rating in a research note on Friday, July 7th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $86.00 target price (up from $43.00) on shares of BeiGene in a research note on Tuesday, August 15th. Morgan Stanley reiterated an “overweight” rating and set a $83.00 target price on shares of BeiGene in a research note on Monday, July 10th. Finally, Robert W. Baird upped their target price on shares of BeiGene from $44.00 to $58.00 and gave the company an “outperform” rating in a research note on Thursday, July 6th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $77.33.

Shares of BeiGene (NASDAQ:BGNE) opened at 70.62 on Wednesday. The company’s 50-day moving average is $70.10 and its 200-day moving average is $43.86. BeiGene has a 12-month low of $26.43 and a 12-month high of $74.05. The firm’s market capitalization is $2.81 billion.

A number of institutional investors have recently made changes to their positions in the business. ProShare Advisors LLC increased its holdings in BeiGene by 2.5% in the 2nd quarter. ProShare Advisors LLC now owns 10,118 shares of the company’s stock valued at $455,000 after buying an additional 246 shares during the period. First Trust Advisors LP increased its holdings in BeiGene by 2.2% in the 2nd quarter. First Trust Advisors LP now owns 48,860 shares of the company’s stock valued at $2,199,000 after buying an additional 1,029 shares during the period. Bank of America Corp DE increased its holdings in BeiGene by 5.8% in the 1st quarter. Bank of America Corp DE now owns 20,199 shares of the company’s stock valued at $740,000 after buying an additional 1,116 shares during the period. Baillie Gifford & Co. increased its holdings in BeiGene by 2.3% in the 1st quarter. Baillie Gifford & Co. now owns 70,865 shares of the company’s stock valued at $2,594,000 after buying an additional 1,581 shares during the period. Finally, State of New Jersey Common Pension Fund D increased its holdings in BeiGene by 3.8% in the 1st quarter. State of New Jersey Common Pension Fund D now owns 45,987 shares of the company’s stock valued at $1,684,000 after buying an additional 1,700 shares during the period. 51.02% of the stock is currently owned by hedge funds and other institutional investors.

In other BeiGene news, Director Xiaodong Wang sold 20,000 shares of the business’s stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $72.44, for a total value of $1,448,800.00. Following the sale, the director now owns 16,300 shares of the company’s stock, valued at approximately $1,180,772. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John Oyler sold 98,500 shares of the business’s stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $44.16, for a total transaction of $4,349,760.00. Following the completion of the sale, the chief executive officer now directly owns 88,535 shares in the company, valued at approximately $3,909,705.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 383,710 shares of company stock valued at $22,373,260.

About BeiGene

BeiGene, Ltd. is a clinical-stage biopharmaceutical company. The Company is focused in the discovery and development of molecularly targeted and immuno-oncology drugs for the treatment of cancer. The Company had used its cancer biology platform to develop four clinical-stage drug candidates, such as BGB-3111, BGB-A317, BGB-290 and BGB-283, as of December 31, 2016.

Earnings History and Estimates for BeiGene (NASDAQ:BGNE)

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